Operating losses and klansplaining

As the hype continues in the radar press apropos the match on Sunday there is a more interesting story at Ibrox.

I received an update in the last 24 hours regarding the cash situation at the basket of assets.

The Phantom Overdraft from Close Brothers did not cover the operating shortfall.

Of course, the £3m was rather desperately deployed, but more is needed.

I wasn’t sure what the amount would be until late yesterday.

My information is that an extra £2.25m is required to see the Holding Company Vehicle until the end of the end of the season.

The funny thing is I could have sworn that Mr David Cunningham King had promised the cover the operating losses.

Indeed, I’m sure that I read that in the annual accounts of Rangers International Football Club (RIFC) late last year.

So, the Sevco High Command have had to come up with a plan to bring in this £2.25m.

The fine chaps at Club 1872 are apparently ok for between £1.25-£1.5m.

However, the remainder might be more problematic.

One wheeze is to offer an early bird package to corporate clients, a two or three-year advance purchase a box at Ibrox at a discount.

I’m also told of a rather interesting recent conclave among several members of the Sevco High Command.

This trio was named as being part of the concert party, but it did not include Mr King.

The share issue was discussed, but surprisingly these three senior Blue Room chaps appeared to pour cold water on the idea.

The true value of the shares was raised as an issue.

Moreover, they stated that any debt for equity swap might put them individually in the crosshairs of the Take Over Panel.

I’m told that the conclave had a rather Brexit at Chequers feel to it.

There are real material matters to be dealt with, but no one seems to have a workable plan that they can all agree on.

Consequently, the Sevco High Command will be hoping that a positive result on Sunday will distract The People.

Should that come to pass then the Stenography Corps will gush about a title race.

Of course, they will also have to carry out klansplaining duties if the genocide choir at Ibrox are in blood wading mood.

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