Dave’s cash isn’t arriving so a real guy steps up

The Sevco High Command is now very much in the post King dispensation.

The Blue Room chaps all realise that Dave’s money will not arrive.

Ever.

That means that the year-end accounts of RIFC are nonsensical.

However, that is the least of the trouble.

This is a loss-making business without a credit line from a bank.

It needs to cash to operate.

This is the main reason that Mr Alastair James Johnston had to pony up some emergency liquidity recently.

For the avoidance of doubt, it is his money.

So fair play to him.

A Wall Street buddy suggested to me that Mr Johnston’s net worth was probably in the region of $9m.

At current rates that is £6.74m.

If Mr Johnston has, say, dipped into his 401K fund then he definitely is the genuine article when it comes to being a “Real Rangers man”.

At the time of writing, my information is that the USA based businessman had come up with a sum between £500k-£1.5m.

This is lifesaving keep the lights on stuff.

However, it doesn’t address the real long-term problems that beset Sevco.

Mr Johnston was involved in the recent decision to seek invoice financing, which is a story I broke here recently.

So there you have it, a real supporter stepped forward when the Limpopo Kid was posted missing.

Perhaps the South African based entrepreneur knew that as the insolvency clock was ticking towards midnight a guy who really cares would step forward.

I suppose it is just as well that Mr David Cunningham King has no intention of calling in the loan which is currently on the Sevco balance sheet.

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