Dave King does not do social visits to Ibrox. He cannot even find time to get behind the team. Is he beginning to tire of the wading in Fenian blood calisthenics at Rangers Lite? It’s not too much of a stretch to suggest that the rogue board are coming up as short as The Glasgow Half Marathon and that another emergency loan had to be found to make payroll. There are even reports that King is prepared to do walking away at a price of 26p for each of his 11,869,505 shares. Given that he bought his equity from Artemis, Miton and River & Mercantile at 20.1p per share, is the South African short-con artist prepared to stop treading the Ibrox boards for a profit of just over £700,000? If so how Real Rangers Man of him.
To paraphrase one of my contributor’s more inelegant phrases, is the same flies/different shite business model not up to the standard that one might expect in Paul Murray’s forthcoming address to ICAS. Will Murray ‘fess up‘ that the business plan is to throw money at problems until such time that no more loans are available? Did King propose a loan from one of his underworld contacts at onerous rates? One would hope that the £5m to pay off to Ashley was not borrowed from Signore Agliotti.
When King last slipped in to Scotland, which I exclusively revealed on this site, he was being yanked about by Ashley so as to serve papers on him for contempt of court. He flew in first class from Johannesburg at Rangers’ expense for a sit-down meeting that did not materialize and a subsequent surprise rendezvous with Sheriff Officers. Ashley had stitched him up like a kipper. Had it not been for the masonic-facing intervention of disgraced High Court Judge, Peter Smith, King would have been sent down to spend Xmas at HMP Brixton. King was indifferent to the threat as serving time is an occupational hazard for career criminals.
However at the next court case in March, the smart money is on Ashley. There are those who anticipate a £5m reverse for the Rogue Board. If King would walk away for just over £3m, to be accompanied by ‘wrong un‘ Murray and WATP Gilligan, would Ashley withdraw his Panzer division? He has his jackboot on King’s scrawny neck and is of a mind to snap it.
Should one applaud Level 5 for the SMSM blanket ban of news in regard to King’s arrival? Where was Grant Russell to ask King how much he had held back for the January transfer window? Grant, who failed to mention that UEFA’s Head Of Compliance, Andrea Traverso, considered Rangers Lite to be a new club, could have asked King how the £250,000 spent on Jan Alwick comes up significantly short on King’s promise of £30m. Does the 22 point gap to Celtic come at a price of £1m per point apropos the conspicuous absence of investment ? Ceteris Paribus, it will be thirty points or more by season end, leaving no hiding place for King. He should walk the plank now before the penny drops on his arcade fantasy. The inveterate bigots that constitute ‘The People’ don’t take too kindly to fools’ gold:
I’m not persuaded that King is of a mind to walk away just yet. Brian Kennedy is circling like a Sale Shark and might offer King a higher price for his equity. Perhaps something along the lines of £4m, which I’m reliably informed is a £1m discount on the price King quoted to Ashley. As The Gullibillies scattered rose petals at King’s feet he was cutting deals with their sworn enemy. Did we expect anything less from King?
Did George Taylor, who owns 12.46% of RIFC, step up with the payday loan? Should Taylor acquire King’s 14.57% to keep Kennedy at bay he would have a 27.03% interest in Rangers Lite. As this is less than the 30% threshold where he would have to make a 26p offer to the remaining stakeholders, one can see the attraction for the Real Rangers Man. However King, who knows where the concert party bodies are buried, might exact a higher price from Taylor to keep his mouth shut.
The Three Bears were without a shadow of doubt acting in concert when they acquired a controlling interest in RIFC. They bought Laxey’s 16.32% holding on 31.12.14 at 20p per share.With January 1st being a bank and stock exchange holiday, King purchased his holding on the next business day, the second of January. Those who think that this was a coincidence must have come down in the last shower.
In the event that the FCA took an interest, and as they have not responded to my missive this is unlikely, they might turn their hand to how King, Murray and Traynor used hacked information to drive down the price of the equity. Should any of my readers be attending Murray’s ICAS address, be sure to inquire what part he played in the £25,000 acquisition of William Stevensons’ misappropriated data.