Teed off

A chap at Ibrox had to cancel a golf holiday in Portugal recently.

When explaining his absence from the line-up he told his buddy that he had to take care of the future.

He told his golfing mate that he feared that he might not have a pay cheque at the end of the month.

Indeed, as if to impress his excellent reasons for to going on the long arranged trip, he stated that he could not be sure if he would have a job to come back to.

A source close to Deloitte, who had just visited the Big Bleak House, stated that there was “…an atmosphere of impending doom at the place…” this is not surprising.

However Mr Llambias has assured Mr Doncaster of the Scottish Professional Football League that all is solvent in the garden.

A Square Mile analyst told me that the King faction has several potential obstacles in front of them now:

  • The possible intervention of the Takeover panel.
  • They do not have the money to make an offer for all of the remaining shares if so ordered by said panel.
  • Even if they are successful in getting their brogues under the board room table then they do not have the resources to fund the ongoing onerous losses.

I understand that one of Mr Ashley’s people approached the bank that provides services to Sports Direct.

Even with their excellent relationship this financial institution would not provide normal facilities to Rangers International Football Club.

It is hardly a state secret that this company needs further emergency finance.

The question for anyone lending it would be whether or not it would be secured against any asset that the company owns.

The stadium and the training ground are the obvious targets.

However the contingent liability from Sevco 5088 has been in annual accounts of RIFC for the last two years.

Moreover it was inserted at the insistence of the chaps at Deloitte.

Interesting times indeed.

From my vantage point they seem to be in a bunker.

This, in fairness, is where most of the Ibrox clientele have been for the last three years.

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