Tranche warfare

In feudal times the King would send his guys out to raise taxes. This was usually to prosecute some foreign adventure or to build another lavish castle.

Of course these days it is a bit more ordered than that.

Sources inform me that Mr King’s entourage have been going around the usual suspects in the Square Mile in an attempt to acquire credit facilities.

So far they have not been successful.

The City chaps pointed out several obstacles that will come as no surprise to regular readers here.

On the problematic issue of a new Nominated Adviser I understand that several NOMADs have been sympathetic, but so far no takers

However should the requisitioners meet with any success on these matters then I fully expect that it will be exclusively revealed by some breathless stenographer asphyxiating with excitement.

In the meantime Mr Ashely does not react to any of this because he does not have to.

It would be very surprising if the merchandising deal between Rangers Retail Limited (RRL) and Rangers International Football Club (RIFC) had not been substantially renegotiated since the £10m loan was agreed.

Since the 27th January Big Mike has been in driving seat.

Of course the stenographers are very excited about succulent lamb being on the menu at the Big House again.

Subsequently do not expect any probing questions from them in the direction of Mr David Cunningham King.

Mr Sarver in the United States has also been propositioned by the new regime.

However, for the sort of money he was asked for he would want control and that was not being offered.

Meanwhile it is getting downright dirty in the tranches.

Mr King said at his recent presser that he expected there to be “…money in the bank…” when he took power.

By this it was taken that he was referring to some of Mr Ashley’s £10m loan.

As for Friday then it still isn’t too late for the proxy people to change their minds.

Anyone who expected Big Mike to simply capitulate to this power play by Mr King and his associates has not been paying attention.


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