A fantasy that must not be challenged

I think it is fair to say that most of the citizenry of Planet Fitba have scoffed at the Morelos Chinese bid story.

The RIFC accounts last year stated that there was a big hole in the numbers.

So large that it required more than £7m to bridge the chasm and that merited a going concern warning from the auditors.

Of course, there was no need to worry as Mr David Cunningham King in the guise of New Oasis Asset Limited (NOAL) stated that he/they would cover it.

Due to some unforeseen circumstances, this promised cash hasn’t turned up to bail out the Holding Company Vehicle.

The first tranche of £2.9m was due to arrive by the end of November.

It didn’t.

As regular readers will know, I reported late last year that the Serious Professional had been sent on an unsuccessful mission to source invoice financing.

Then prospective administrators were sounded out.

This all pointed to a distressed company with a cash flow crisis.

Then last week we were asked to believe the following:

  • A bid of over £7m had been made for Alfredo Morelos from China.
  • That it had been turned down by the Sevco High Command.

It seemed utterly baffling.

When this fairy story was refuted on Twitter by BBC journalist it brought a swift response.

The tennis chap at the Beeb had inadvertently did some journalism regarding Ibrox by email a contact in China.

Now that just won’t do!

I’m told that a dignified delegation from the Sevco High Command alighted at Pacific Quay.

Apparently, it was THAT important that this Ibrox approved narrative continued to dominate the news cycle.

So a retraction was duly tweeted.

New balls, please.

Advantage Jabba…

One small data point is that Chinese sports deals tend to be done in US Dollars.

Therefore, the …ahem…proof shown to the Beeb that Chinese bids had been made in Euros didn’t really ring true.

Overall, it made no sense to me that the Ibrox chaps would go into battle with BBC over a transfer story.

Then an impeccably placed source told me to focus on the quantum of the putative Chinese bid.

According to him, that was the real utility function of this fantasy.

He asked me to imagine a situation whereby two well-heeled and emotionally committed Ibrox chaps were approached by a convicted criminal.

I closed my eyes and tried really hard to visualise such an undignified event.

This unrepentant felon then invited them to lend money to Sevco.

Moreover, he told them that it was only a short-term loan because the basket of assets was about to come into money from the Far East.

This was an important lie as one of the prospective lenders seemed unconvinced that there was any real equity in the Sevco squad.

Consequently, it was vital that the Chinese story remained unchallenged in the local media and that it was believed by these two chaps.

I must admit that I was almost convinced by my source as to the veracity of his story.

However, I then pointed out that this would entail Mr David Cunningham King indulging in financial skulduggery of the most grotesque kind.

Moreover, he couldn’t possibly hope to get away with such a ruse given the high-quality journalists in Scotland who constantly scrutinise the Machiavellian machinations of Sevco.

At that point, my source laughed at me.

Such cynicism in one so young.

I find that to be very sad…

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