As regular readers will know I attempt to provide a free translation service for those who still occasionally get their Sevco news from mainstream media.
Recently the ‘Dave King waiting in the wings’ story re-emerged and it is all very interesting.
Of course this is the fairy tale that keeps The People warm at night, one of their own bankrolling their delusions of sporting supremacy.
However here is a likely scenario of what actually transpired before you got to read it in the Daily Radar.
By recently talking to a stenographer from a tabloid Paul Murray and George Letham must have been confident they would not fall foul of the requirements of the Takeover Code.
Now it goes without saying that it would be inconceivable that any former director of The Rangers Football Club plc (1872-2012) would ever knowingly breach a rule or regulation. Therefore we are left to assume that Mr Murray and Mr Letham will not be a part of any takeover of The Rangers International Football Club plc (RIFC) any time soon.
They both of them may just see their roles as bit part players in an elaborate scheme where they get to leak information which is meant to remain secret. By having no role in any subsequent offer, they would be free to say whatever they want to fire up the publicity battle engulfing the two year old Ibrox club. If reports from the BBC of Dave King denying any contact with the board or any takeover are true, then perhaps he is just distancing himself from the consequences of Murray and Latham’s actions to prevent the RIFC board starting the stopwatch on his efforts by registering King as a formal Offerer.
There are rules governing this sort of thing.
The succulent stenographer in this hypothesis would be under strict orders to not add the word ‘takeover’ anywhere to his dutiful dictation. Instead ‘rescue bid’ and ‘bail out’ would be used as a cypher. We are then left to believe that an act of enormous generosity is being proposed that does not involve the purchase of RIFC shares.
Of course dear reader one thing that Planet Fitba is not short of is obedient stenographers,
After Mr. King’s , ahem ‘legal troubles’ in South Africa stemming from his share trading, it would be a surprise if Mr. King would take a chance on running into fresh trouble in the UK by trying to evade the intent behind the Takeover Code. That leaves us with the reported story. Paul Murray and George Letham are negotiating with the RIFC board to prepare a ‘rescue bid’ and a ‘bailout’. Whatever that might mean…
In the meantime, regular readers will know that the RIFC Chairman, David Somers, is unimpressed with all of these shenanigans. If Dave King wants to buy control of RIFC there is a straightforward and well established process for making an offer for its shares. The sellers will have a price in mind. If a prospective buyer wants this train wreck then they can stump up the asking price.
Anything else is merely Off The Radar Pish.