If everything in life comes back to the Godfather then there was a very strange Sit Down at Ibrox this week.
Firstly and contrary to some message board rumours there is no RIFC meeting planned with Dave King or any of his associates for Monday.
However, just like last time, he could turn up at short notice.
For the avoidance of doubt had the last meeting with him been actually scheduled then every major shareholder would have been dialled into the meeting.
They were not and a few of them were not contactable at such short notice.
As Mr King and Mr Letham were placed in an ante room, the RIFC executive got their heads together to agree a formal response.
Once the meeting commenced RIFC Chairman David Somers thanked Mr King for traveling such a distance.
He stated to him that he did not doubt his sincerity apropos the wellbeing of the club, but he did question the seriousness of the offer on the table.
I understand that Mr King did not respond to that challenge.
Sources tell me that the South African based entrepreneur was asking for things that were not in the gift of the RIFC board.
A cynic could view all of this as a grandstanding stunt, but I couldn’t possibly comment.
The numbers in the RIFC/TRFC situation are eye watering and I will be examining them soon as I have recently been interviewing a City analyst who has been following the RIFC train wreck ever since the Initial Public Offering in 2012.
Although I won’t go into detail now he did point out to me that had Mr King been successful in his question to acquire a controlling interest (51%) then he would be legally obliged to make an offer for the other 49% at laid down rate.
He didn’t think this was a serious proposal given the state of RIFC.
Now as The People fret over their super lager Mr King may already be back in his laager .
I know he traveled to London yesterday.
Anyway he made his play and they had a Sit Down.
The guys at RIFC met with him because Mr King is a serious man and is to be treated with respect.
I think the answer from the board will be ‘no’ and that will be final.
Perhaps he just made them an offer they had to refuse.
