Today is a rather tense day for The People.
They wait to hear anything that they could mangle and bash in order to resemble that thing called ‘hope’.
Any scrap of information or unattributed quote will have a positive meaning attributed to it.
It is a grisly spectacle to observe their desperation.
In fact it is a pitiable sight.
Of course they cannot say that the truth was not out there.
The reporting of the Sevco story here has been consistent.
I have stated and re-stated that the central reality was that RIFC/TRFC was a loss making business with no credit line from a bank.
Moreover, the cash reserves that were generated by the Initial Public Offering (IPO) in 2012 are now gone and the tale of 2014 has been one of emergency finance being sought in vain from outside agencies.
You may recall dear reader that The People were told in February of this year by RIFC/TRFC to ignore a blogger in Ireland.
At that time I was reporting that the club formerly known as Sevco Scotland Limited was skint.
Shortly afterwards the Laxey/Easdale loan was arranged and securitised against Edmiston House and the legendary Albion car park.
Without that £1.5 million then the company/club/celestial entity would not have made it to the end of the season 2013/2014.
Should Mr King prove successful then he will gain control of a loss making business with no credit line from a bank.
He will also have to honour a veritable smörgåsbord of ‘Onerous Contracts’ to various offshore entities.
However dear reader The People will rejoice if Mr King can present to them that he has been successful in his bid.
They are bereft of hope and it is that precious commodity that they are in desperate need of at the moment.
Once more dear reader:
RIFC/TRFC is a loss making business with no credit line from a bank.
It is burdened by escape proof ‘Onerous Contracts’ which were set up to enrich the beneficiaries and provide little benefit to the club/company.
Even if the man from South Africa does become King at Ibrox then he will still have to pay his seigneurial dues to Charles of Normandy.
Of course the Sheriff of Newcastle will also demand payment from the serfs in the Govan stand.
The Sevco scriptwriters have created a fine tension in this storyline.