Dangerous dreams and grim reality

Be careful what you wish for.

At the moment The People are beside themselves in anticipation.

They think that the good old days are about to come back.

There is a mood of excitement among The people and they state very forcefully that they want their club back.

Moreover they are convinced that deliverance is at hand and that Mr David Cunningham King is the embodiment of that final victory.

Oh dear.

The General Meeting of Rangers International Football Club (RIFC) will either result in victory for the requisitioners or it will not.

There does not seem to be any middle ground or possibility of a deal at this stage.

However, if there is a rapprochement between, say, the Douglas Park consortium and Mr Ashley then it would be unexpected, but the sky would not fall in.

At time of writing I cannot envisage a deal between Big Mike and Mr King.

I recently spoke to a senior member of the Toon Army who works an EPL club as their in-house lawyer.

He is a veteran Ashley watcher and he told me that he simply cannot see Big Mike losing this one.

It is safe to say that my buddy will never send the Sports Direct magnate a Christmas card and he passionately wishes him to leave his beloved club on the Tyne.

That said he has more than grudging respected for how he goes about his business.

Ashley is, in the opinion of my legal buddy, “an operator”.

If Big Mike does lose the General Meeting then I have no doubt that he will have leave behind various contractual presents for the new board.

I think they will find that Mr Ashley is the man who has put the Tort in torture down Ibrox way.

My Toon buddy stated to me that if Big Mike wins the day then the Ibrox home crowd will have a football club to cheer on into the future.

However he was not so sure about Sevco’s longevity of Mr King won the day.

I understand that Mr Llambias and Mr Somers have strongly communicated their feelings to the AIM via the NOMAD apropos the South African based businessman.

The genius of Big Mike is that he understands that there are emotional idiots who will run loss making football clubs while he looks are the profitable components of the business.

In a recent meeting with the Rangers fans Board (RFB) Mr Derek Llambias stated as an assertion that it is the business plan to do just that.

At the moment the key issue are the circumstances under which can Big Mike demand repayment of his loan.

The accounts of The Rangers Football Club Limited (previously Sevco Scotland Limited) show an annual loss of £8.1m.

Even if that could be covered by a combination of increasing season tickets and selling more of them then it would be just at breakeven point.

That would not pay back Big Mike and while he is owed that money then he has security of major assets like Murray Park and the world famous Albion carpark.

After the basic stupidity of the RIFC Initial Public Offering (IPO) it is unlikely that there will be much appetite in the City for further idiocy.

Then it comes back to Mr King seeking out like minded chaps to subsidise the Ibrox operation and he said this at his recent presser.

The ‘business plan’ advocated the South African based entrepreneur does not really survive a collision with the financial evidence.

This is a loss making business with no credit line from a bank.

King’s response is to find people willing to lose money in this noble cause.

At some point the cash will run out.

I understand that the King Camp  recently gave a presentation to the River & Mercantile chaps.

Sources inform me that these City types were not impressed by what they heard.

Of course Mr David Cunningham King and Mr Paul Murray were members of the board of old Rangers.

Their collective narrative is that they knew little of what was going on during their time on the board due to David Murray’s management style.

I understand from sources close to BDO (the liquidators of the old Club) that they strongly refute this and they have a very different view about what the directors of Rangers knew.

However all of this is washed away by the emotional trauma of The People.

Since 2011 they have been banged up inside Planet Fitba’s hurt locker.

Now someone is telling them that it can all be at an end and soon.

What the South African based entrepreneur seems to be peddling is a fairly toxic form of nostalgia to both The People and to the stenographers.

As Inter Milan are in Glasgow to play the club they met in Lisbon on May 25th 1967 that historic sporting achievement by Celtic cast a long cold shadow over the original Rangers.

It forced them to overspend, scam the taxman and eventually die.

An Ashley controlled Sevco will not self-destruct.

If he maintains control at Ibrox then Mr Llambias will bring in a new order whereby New Rangers will be financially sustainable.

The people in control of the Blue Room will care not a jot that they are not ’simply the best’.

It will be a guaranteed existence shorn of hubris and moonbeams.

If, in the event of King being defeated, there is a further fan boycott then Mr Llambias and Mr Leach will simply adjust the budgets to cope with that.

Big Mike does not require the adulation of the home crowd at Ibrox and more than he needs the love of the Toon Army.

You will note that there has been a marked absence of any charm offensive from his side.

Ashley’s guys have simply gone about their business quietly and diligently.

Those of you who have enjoyed large helpings of Ibrox themed schadenfreude over the past few years should really be hoping for a King victory.

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