On a day of more award winning stenography in the Fitba Fourth Estate I’m afraid there is a need for some clarification of the situation.
This is not an olive branch that is being extended to Mr David Cunningham King, but a begging bowl.
However it isn’t just the South African based entrepreneur that is being shown this ‘generosity’ by Rangers International Football Club (RIFC)
Everyone and anyone who is a usual investment suspect in the corporate world is being touched for money.
However, if Mr King did buy into RIFC he could not be sure what his money would be buying.
The board of directors could not state with any certainty what percentage his millions would buy.
I think we can call this the ‘Stockbridge Effect’.
Moreover the fine folks in the South African Revenue Service (SARS) would be interested in this offshore commercial activity by Mr King should it come to pass.
The cash levels at RIFC/Sevco are approaching ‘critical’ and discussions with HMRC are ongoing about the normal remittances.
The VAT on Season Tickets sold up until 30th June was due yesterday.
Of course more Season Ticket Sales would help-they would help a lot.
Hector is a reasonable chap and HMRC will undoubtedly respond positively to a highly regarded professional like Philip Tudor Nash.
RIFC are lucky to have him.
Graham Wallace will probably remain encamped in the Square Mile as that is where the money and his club/company needs lots of it and quickly.
With the Chief Executive knocking on doors in the City the day to day running of the Ibrox outfit is being carried out by the man who turned Liverpool around, quite simply he is a top top pro.
If this company/club survives it will be down to the skill and endeavours of Wallace and Nash, but mainly the latter.
Since he came on board he has worked wonders in minimizing the worst effects of the ‘onerous contracts’ and has done what was been possible to dismantle the carcass ripping structures put in place by Charlie and the boys.
If RIFC and their loss making subsidiary avoids an insolvency event this season then it will largely be thanks to Philip Tudor Nash.