Hope at Easter

No doubt the stenographers will obediently regurgitate the PR prepared copy next week on cue.

De-listing of Rangers International Football Club (RIFC) is really no biggie, nothing to see here move along.

Indeed it may even be served up as part of the Grand Plan.

However, a source close to one of the institutional investors took a rather different view when I spoke to him last week.

His view of RIFC was “No NOMAD, no money, no hope!”

He certainly seems on firm ground with the first part of his assertion.

My chap in the Square Mile stated to me that it had “…all gone quiet…” on that front a few weeks ago.

He was confident that if there was something afoot then the City was a very gossipy place.

What he had heard was that the chaps on the Alternative Investment Market (AIM) had informed the appropriate people at RIFC that there was “no wriggle room” regarding a NOMAD.

As for the second then there IS money for as long as the major shareholders want to put it in.

The £1.5m loan last week was unsecured because there was nothing of value to secure it against.

Mr Ashley has all of the assets secured that could be secured.

Only Ibrox was not involved in the January loan.

A reasonable person could perhaps deduce that this means that the stadium that John Brown played for is, in some way, encumbered.

Mr Ashley has not gone away you know.

The contract between Rangers Retail Limited and RIFC remains extant.

Moreover, he is providing the very best legal representatives for Mr Llambias and Mr Leach as they are being probed by RIFC regarding their time on the board there.

As for the third then there is always hope.

However that can have a cruel edge to it

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