The problems of an underfunded hostile takeover

I think it would be fair to say that the good folk at Campbell Dallas have had some nasty surprises lately.

By now they have looked at the books of Rangers International Football Club.

It was readers here who first learned that the Scottish firm was considering taking on the RIFC gig.

As usual the stenographers were off the pace.

That usually happens when you’re spoon fed by Press Release.

As of this morning, I am informed that there is working capital to sustain the operation for little more than a month.

Moreover, a well-placed source very close to the action stated to me that the New Regime was “begging” Mr Super do the decent thing.

The man who is the embodiment of distilled ‘Rangersness’ is currently on gardening leave and is on the payroll until December.

His entirely justified remuneration costs Sevco around £80,000 per month.

I am informed that if Mr Super did the financial equivalent of Captain Oates and left the Big House to check the weather then it buys a few more weeks.

I’m sure that Mr Alistair Murdoch McCoist will do what he thinks is the decent thing.

He’s that type of guy.

It would be useful, of course, if Mr Super was snapped up by some media organisation to ease his transition into civvy street.

After the working capital is used up then, the current club playing at Ibrox would be surviving from home gate to home gate.

It was good to hear that RIFC have settled some of the outstanding invoices from their highly professional PR experts.

You might have noticed that the good news apropos Ibrox has stepped up a Level on the back pages.

Entirely coincidental of course.

However that fluffy feel good stuff cuts little ice with the Square Mile types.

An excellently placed source told me this morning that a Sevco plenipotentiary was recently challenged at a finance raising presentation.

The City chap wanted some degree of comfort apropos the ownership of key RIFC assets.

The Holding Company Vehicle has also settled some outstanding matters with players who recently left.

This was a good move as those football debts can be a pain.

For the avoidance of doubt, I understand that those highly skilled PR chaps continue to invoice  the New Regime with precise regularity.

What we have here dear reader is the outworking of a badly planned underfunded hostile takeover.

They are in control of a loss-making business without a credit line from a bank.

It is just as well I suppose that Mr David Cunningham King is about to JET IN with a war chest to solve all these pesky financial problems.

As ever this reporting is guaranteed to be free of contaminated lamb and harmful PR additives.

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