There were two statements released late yesterday evening. The first one provided a detailed account of unsuccessful approaches to Sports Direct. This was soon followed by a statement from the shyster board. Gordo has kindly provided a pertinent comment which I have reproduced with a light edit
“As always you must read what they didn’t say as much as what they did say to make any sense of their lies. What they didn’t say was exactly how much has been made available? Who has made the loan and on what basis will it be converted into equity? You can dress mutton up as lamb all you like but at the end of the day you know the difference.This very late announcement on a Friday night again shows panic and its written all through the narrative….do they actually think people with at least two brain cells will believe them and agree this is the way forward for the club? Do they actually think people with at least two brain cells will believe that soft loans from existing ‘lenders’ is the way forward, when the truth in reality is that we can NOT attract any NEW investment? Do they actually think people with at least two brain cells will believe that this is not part of their ‘sweep and deflect’ policy and that they are getting theirs out there before anything else comes to light?Do they actually think people with at least two brain cells will believe that 20.00 on a Friday night is the correct time to release such a statement if it wasn’t to fend off the truth that is about to be exposed? Do they actually think people with at least two brain cells will believe that we are in a good place?Do they actually think people with at least two brain cells will believe they are covering us by NOT investing? Soft loans are not INVESTMENTS. They are sticking plasters to keep the lights on. Anyone with any grey matter between their lugs knows that. As for them NOT going down the ISDX route;do they actually think people with at least two brain cells will believe that it was by choice and not because they can not pass muster?
Once again a ridiculous statement of fuck all outlining fuck all and telling us nothing. The sooner MA\SD do what they need to do to get rid of this shower of shysters the better. As someone said earlier it’s time to start from the ground up with a clean slate. Which we should have done in 2012. The chance was lost then and this is the consequence. For the lemmings who do not even read anything other than the headline,this will be a great day For the others,the truth is finally coming out and their web of lies and deceit is starting to untangle.
Mike Ashley has ordered the covers off the guns and the breech to be loaded.”
The first question to consider is whether this statement is a ‘spoiler’ to the article by Phil Mac Giolla Bhain. Phil Mac’s article conveys a narrative of frantic last minute horse trading to keep the lights on. He specifically states that Paul Murray was dispatched to SD’s Shirebrook HQ with a letter which gave the shop away and offered to make good on the reappointment of Derek Llambias and Barry Leach. This letter also offered to throw King under the bus.
Why would the board issue a statement of this nature so late on a Friday evening if there was no truth in Phil Mac’s narrative? If this statement was crafted to undermine his narrative then it failed. If anything it has added credence to his narrative.
Anyone reading this statement should now realize that King lied to each and every one of us. He promised to provide £30m over a period of four years to rebuild our club. He promised to risk his children’s inheritance to re-establish Rangers as a dominant force in Scottish football. He lied. Should any Rangers fan still cling to the fantasies of this inveterate liar then i would question whether they have the two brain cells that Gordo alludes to.
The shyster board has not even acknowledged the emergency board meeting at Mar Hall this week.Had it not been for a last minute loan of funds, October payroll was in jeopardy. Does anyone recall King’s enmity to the former board’s loan from Mike Ashley? However all this shyster board is offering is more loans.
Let’s be quite clear on their objective. They are not offering loans to control Rangers Retail. They are offering loans to control the club itself. If the lemming shareholders provide King with the latitude to issue his own shares he will carve our club up to his advantage. King has a track record of ripping off shareholders and he won’t think twice about issuing preference shares for himself and diluting the ordinary shares of others. Those stupid enough to believe his rhetoric should have a look at Micromega. King has preference shares and 76% of the ordinary shares. He has similar plans for Rangers using money from George Taylor, Douglas Park, The Rangers Supporters Trust and Rangers First. If you give this career criminal pre-emptive rights, we are going to hell in a handcart.
King is toxic .LSE AIM would not touch him with a barge pole and his backroom deal with Peterhouse/JP Jenkins has failed to provide a listing on ISDX. Think about this carefully. What this states unequivocally is that no-one is prepared to invest in RIFC. If this is spun as good news then our fans have taken leave of their senses.
The blazer chasing Rangers First and RST will back King at the AGM. His lies won’t mean a fig to them as all they want is a sumptuous pre-match meal. They were set up to stop shysters like Whyte and Green, yet amazingly they embrace King.
King stated that the club was comfortably funded for the next six months during his penultimate visit. He then crept into Scotland this week to rattle his collection tin at Taylor and Park.
Ashley has now decided to make his move. Should King blatantly defy the cease and desist warning, then he will be dragged into court and taught yet another expensive lesson, at our expense. Are we prepared to let this career criminal spend more of our season card money to defend his lies and his singular inability to pay his debts?
The letter presented by Murray was a last ditch attempt to preempt Ashley’s cease and desist order.
The statement that funding is in place is the precursor to Ashley dismantling this board. He knows that they are planning to dilute his shareholding to less than the 5% required to hold them to account via an EGM.
Keep a close eye on the football strips tomorrow. Will a poppy emblem replace the usual crest?
Is there any truth in the rumour that King was summoned to the board meeting at Mar Hall to surrender his shares in lieu of funding from Taylor and Park? King has failed to raise funds or deliver on his promised investment. I would not be surprised if the money behind this board have clipped his wings.