The Offshore Loyal

No doubt the home crowd would have left Ibrox last night feeling rather dejected at the possibility of another year in the Championship for their fledgling club.

However while much of Planet Fitba was cheering on the ‘Well, there were others who were staunchly on the side of The People.

With the Play Off final delicately balanced the chaps in the Sevco Triangle will be hoping that the team that Super Ally built can do the business.

The last two promotions have meant that the so called ‘Onerous Contracts’ have increased with each season.

Should Sevco manage to get past Motherwell then, there are few who will be richly rewarded for this sporting achievement.

We already know that Big Mike will net a tidy half mill for providing the Newcastle Five.

Of course, Mr. Super remains the manager of the three-year-old club.

He must certainly be in line for a promotion bonus too.

That will be written into his contract, and that legally binding agreement is still in place.

For the avoidance of doubt, Mr. McCoist remains on the Sevco payroll until mid-December.

Of course, he could always Do Walking Away for the club and company that he loves.

This week the Daily Radar was breathlessly telling their dwindling readership about the iniquity of Big Mike’s retail deal with Sevco.

Regular readers here would not have been surprised at any of this.

Well-placed sources informed me at the start of March that Ashley had communicated his asking away price to the New Regime.

Mr. David Cunningham King, the new Chairman of Rangers International Football Club, has stated that he wishes to deal with the £5m loan “holistically”.

Well, in the round, to pay back the monies drawn down in January and buy out the retail deal will cost around £33m.

To put that in some perspective if, best case scenario, the new club at Ibrox sold 40,000 season tickets for next campaign an £400 per seat then that would bring in £16m.

Quite simply Big Mike is owed money that that the New Regime cannot pay.

It is a loss making business without a credit line from a bank and no amount of PR generated spin will alter that fact.

If you do not lose sight of the reality of those financial fundamentals at Sevco then the gushing stenography from the main stream has no power to deflect, distract and disinform.

Sources tell me that before the January loan the buyout period was five years, and it was increased  to seven during the negotiations for the £10m loan, of which only the first tranche was accessed.

If the team that Super Ally built manages to get past the team that Stuart McCall put into the play offs then the chaps in the Sevco Triangle will be very happy.

I’m sure Charles of Normandy will also allow himself a smile.

It was just all too easy for Charlie and the boys.

It really was…


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