The King and the Nomad

In business as in politics the optics of a situation can often be crucial.

Mr David Cunningham King has made it very clear that he would dismiss the Nominated Adviser (NOMAD) of Rangers International Football Club (RIFC) if he is successful at the General Meeting (GM).

However he has not said who he would get to replace the current NOMAD W H Ireland.

Incidentally they have in turn said that they would resign if the South African based entrepreneur and his colleagues gain control.

For the avoidance of doubt I believe that Mr King really needs to say which NOMAD he plans to use if he gains power after the GM.

Moreover this new NOMAD would have to state that they consider him ‘fit and proper’ to be a director of a publicly listed company.

Now I am sure this will not be a problem for a businessman of the calibre and standing of Mr King.

However, in my opinion, the NOMAD is the real issue. I fear if he doesn’t push one forward before the GM then it might look like that he can’t find one.

If this is true then his outsider status in the City might be a reason for this.

Although he is quintessentially British I believe that Mr King is something of a stranger in the Square Mile.

On the other hand Mike Ashley runs a London-registered public company with a market value of £4.2bn.

Draw your own conclusions dear reader.

The funding issue is of course something that I have aired several times here.

So far Mr King and his colleagues have been rather light on detail regarding working capital.

With the stenographers in the King tent he is benefitting from the obscurity of his personal finances. No one but Mr King knows how much he has or how much he is willing to spend on Sevco.

He appears to have alternated between inferring (but never promising) that he would bankroll Rangers (2012) to saying he would organise other investors.

It is almost as if it is 1998 and his name is David Murray and not David Cunningham King.

The stenographers are clearly giving Mr King the Craig Whyte treatment regarding his own finances.

It is a remarkable sight as the hacks fawn over the South African entrepreneur’s every assertion without even the hint of an interrogative.

Some award winning stenographers are repeating their previous mistakes of accepting claims of great wealth without seeing any evidence.

The fact is that the hacks have no more reason to believe that Mr King has the capacity to bankroll Sevco, like they are Rangers in 2001, anymore than you do dear reader.

The stenographers have just stuck their index fingers in the air to detect which way the wind is blowing.

With that example of award winning investigative churnalism completed they have simply placed a bet on future Ibrox access as a result.

Once more The People are poorly informed about matters financial in the Big House.

The sycophantic hacks are again doing the home crowd at Ibrox a real disservice by failing to ask the appropriate questions.

This is another abject failure of Scottish journalism regarding events on Edmiston Drive.

However, if you prefer your schadenfreude Ibrox flavoured then you might conclude that the succulent lamb chaps are doing a great job.

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