The impecunious emperor jets in!

Mr David Cunningham King was at Hampden today to watch his beloved basket of assets.

I think that a victory over Motherwell would have created the appropriate mood music to launch the year-end accounts.

The stenographers would have been in raptures about the wonderful prospect of an “Old Firm final”.

It goes without saying that they would have gleefully regurgitated a high-Level script about the clash of these Fitba titans.

Alas, this will not now take place and the people who run Sevco will no doubt be cursing Louis Moult for his finishing prowess.

The revenue from another appearance at Hampden would have been very welcome indeed for the Ibrox outfit.

As the days shorten time is running out for the accounts to be published.

Moreover, Mr King’s legal representative made a game-changing statement in the Court of Session that his South African based client was without funds.

Now, that presents a real problem for the folk putting together the annual accounts.

The reason being that the putative wealth of the directors was key to Rangers International Football Club as a going concern.

The rationale that underpinned the last set of accounts was that any shortfall in operating cash would be covered by the chaps in the Blue Room.

Indeed the majority of the Sevco High Command had hoped that Mr King would ultimately be the benefactor of last resort.

Even before the Off Licence Putsch of March 2015, the South African based entrepreneur had others stating that the club would be mad to turn down a man of such wealth.

The message was clear:

Mr King was very wealthy and he wanted to lavish it on his beloved Sevco.

Of course, that does not square with what Lord Bannatyne was told in the Court of Session recently.

The Take Over Panel requires the RIFC Chairman to put £11m in an escrow account.

We are told that Mr King doesn’t have that amount to his name and the word “penniless” was used in court.

I’m sure his colleagues in the Blue Room will want a few things clarified.

Of course, we should not lose sight of the fact that Sevco is a loss-making business without a credit line from a bank.

That’s why Mr King’s net worth is of relevance to the Engine Room Subsidiary.

Of course, Sevco are also rather shite at this football thing.

The gap is not closing.

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