Terms and conditions apply

I have noticed that a new narrative is starting to be constructed by the Stenographers.

Some of them realise that they need an alternative storyline if the Dave King rescue bid doesn’t work out.

On that one the current state of play with that is Mr King is ‘ hopeful that an agreement in principle can be reached’.

That is not a direct quote from the man himself, but it is what is being reported  from Sky Sports News.

However, the devil, as always, is in the detail.

A lending institution may agree to lend in principle, but terms and conditions always apply.

They just do.

RIFC shareholders are being asked by Mr King to agree to their shareholding being diluted in a Rights Issue.

Moreover the amount involved will only provide basic working capital to get Sevco to the end of the current season.

I understand from sources that so far Mr Ashley and the Easdales have not been “fully integrated into the negotiations” by Mr King.

However, should the South African based businessman fail in his bid then the hacks must know that Mike Ashley will be the only show in town.

For the avoidance of doubt if there is a further deal by Mr Ashley to increase his control at Ibrox then it will be ‘out there’ only after the ink has dried on the contract.

The man who owns Newcastle United does not court the media nor does he indulge in spinning.

Mike Ashley just makes deals that make money for Mike Ashley.

He’s a business man, he does business.

With that in mind the idea that he would finance RIFC/TRFC into the Champions League in order to boost his commercial interest at Ibrox is risible.

Firstly the football budget required to put a Scottish team into the Champions League is much more than he could make through extra merchandising revenue from Sevco being in Europe.

Moreover, the UEFA chaps have their own team of guys who go to every stadium involved in the Champions League to make sure that only the approved sponsors are seen around the ground.

Mr Ashley has his Sports Direct logo adorning the stadium in Newcastle, but this would not be allowed if the Toon Army were listening to Zadok the Priest on a wintery night on the Tyne.

So the idea that Ashley has some financial interest in bankrolling Sevco all the way to the top table in Europe is just more Pishful Thinking from the Stenographers.

Of course at this stage The People are Death Row Desperate to find any glimmer of hope, but let’s look at the facts.

In February the Company/Club/Celestial entity required £1.5 million to get to the end of the season.

This was provided by Laxey Partners and the Easdales brothers and then in stepped Mr Letham and Laxey stepped back.

The terms of those loans in February were very stringent.

Now it is without dispute that the creature created by Charles of Normandy requires £16 million to get to the end of the season.

If it does not come from a Rights Issue as favoured by Mr King then another round of Shareholder Loans would seem to be the only option.

£16 million is the absolute minimum amount required to the meet basic payroll and pay essential bills.

So who will lend that money to RIFC and on what terms?

Does RIFC have unencumbered assets that can be secured for that amount?

Do they?

These are the questions that the Stenographers should be asking.

However when it comes to matters Ibrox and pleasing their main demographic the hacks prefer to indulge in Pishful Thinking.

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