The importance of giving

I warned here yesterday to expect a softball interview this week  with Paul Murray about the Grand Plan.

What appeared today in the Daily Radar is probably a taste of what is to come.

Once more we have the stenographers regurgitating to their readers what they have happily swallowed.

The idea that Mr Ashley has been ‘snubbed’ is at variance what I have been told by several sources.

However the dominant PR generated narrative is that three wealthy ‘Real Rangers Men’ have stumped up and all is well down Edmiston Drive way.

Of course there is another word for an unsecured loan to a loss making business without a credit line from a bank.

And that word is ‘gift’.

The loan from Laxey Partners and the Easdales last February was secured against Edmiston House and the iconic Albion car park.

Later on Mr George Letham later took over from the Isle of Man based hedge fund and yesterday he was one of the trio who stumped up the £1.5m.

When he provided the £1m that Laxey had originally loaned he did not secure his money against the fixed assets of the club.

After yesterday there can be no doubt of the emotional bona fides of these three men and they are clearly in this for the correct reasons.

Given the onerous terms and conditions of the January loan from Sports Direct the smart move would have been to pay off Big Mike (£5m) and then provide some short term liquidity.

A reasonable person might conclude that there must be a pressing reason why this £5m has not been immediately repaid.

The only one I can think of is that they do not access to funds of that size.

So yet another emergency loan-for that is what it was- was required to meet payroll this month.

Unlike the monies lent by Big Mike this is an unsecured facility.

That unsecured loan is highly generous of them of that there is no doubt.

However more generosity will be required to keep this loss making business on the road.

My guess would be that the long suffering fans will be asked to provide that cash over and above buying a season ticket.

Sevco truly is the gift that keeps on demanding.

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