A well-placed Sevco source remarked to me this morning that Mr David Cunningham King could not return to South Africa this week without being able to claim a major achievement.
I countered by saying:
“Or the appearance of a major achievement.”
He considered my response for a moment and then agreed.
This statement apropos Blue Pitch Holdings et al conveys the impression of decisive action.
The reality is that Sevco Scotland Limited and then Rangers International Football Club (RIFC) were both built from the ground up by Charlie and the boys to enrich the original investors.
It cannot be denied that Charles of Normandy and his offshore buddies have succeeded handsomely in that endeavour.
The Onerous Contracts were woven into the fabric of Sevco from the get-go.
Moreover, the objective was not to create an all-conquering football team that would make the fans happy, but to build a machine for sending money offshore.
If you clear away the spin then what remains is a loss making business without a credit line from a bank.
Moreover, unlike in 2013 RIFC, does not have large reserves of cash to defray ongoing operating losses.
As it stands, RIFC/TRFC does not have sufficient operating capital to run the football operation until Season Ticket cash comes in next year.
Subsequently, external finance will be required to prevent an insolvency.
Now, of course, there is not a single stenographer worth his lamb who will run with that story dear reader.
That is one of the main reasons that any claim by RIFC’S offshore chairman will not be subjected to the appropriate level of journalistic scrutiny.
Now that is quite an achievement.