The fallout from the Unconditional Favourable Settlement is just starting.
I have just learned that General Ashley has made sure that his legal bill has been submitted to Sevco.
My information is that the figure is just over £700k.
Of course, the basket of assets will also have to pay their own legal team too.
In a related matter, two functionaries from the Sevco High Command were meant to have a sit-down with the JD Sports folk on Friday.
However, the people representing the miffed Sports Retailer only wanted to meet with the Convict Chairman and the Conveyancing Consigliere.
The JD Sports chaps meant no disrespect, but they said that unless the two functionaries were fully briefed and had plenipotentiary status then there was no point in the meeting going ahead.
So it didn’t.
I think it is fair to say that there is the aroma of fear in the Blue Room about this situation at the moment.
The last thing that the Engine Room Subsidiary needs is another bruising court case.
Unfortunately, the Convict Chairman appears to be on no mood to have a conclave with reality.
He appears to have convinced himself that he has been terribly wronged by the Takeover Panel bounders.
This will not end well.
I understand that the next wheeze will be to inform the court that Mr King has some monies in Zimbabwe.
Sadly because of the unstable political situation, he is currently unable to get those funds into the UK.
So keep an eye out for that one.
I had recently reported that the pay off to Senhor Fábio Rafael Rodrigues Cardoso was in the region of £700k.
What I didn’t know at the time is that the basket of assets also owes the final tranche of his transfer fee to Vitória de Setúbal.
It just keeps piling up…
Quite amazing the way the bbc reporting of Rainjuurz is done these days.
They broadcast a clearly scripted interview with Charlie Adam praising the new messiah at iBrokes.
This was shot to pieces by Willie Milller et. al. as ‘disrespectful and musings of a fan rather than a player’…
Now in response to this ‘straying off-script’ ..
… Chic Young has been dispatched at speed to solicit further backup gushings (of pish) from Alex Miller who informs us that sevco will finish second at least this season and overcome Celtic in two seasons.
Are they paying these guys to read the script?
I am sure they could just dig a little more into their overdraft facility to cover all those cost, should not be a problem for the world’s most successful club.
Big Mike knows that King dare not set foot on UK soil for fear of being arrested as he has yet to take any steps to prevent him being in contempt of court. His contempt for societal norms in the conduct of business is going to cost him (& sevco) much more than a pretty penny. I might go as far as saying, more pennies than he can afford to pay.
I look forward to hearing of him dialling in to the next set of negotiations in his efforts to avoid arrest. Will he be soiling his pants at the prospect of setting foot on HM soil.
Hmmmm, Zimbabwe now? Perhaps king should just email all the Club1872 folks and tell them he has received assurances from a Prince in Nigeria, that if they all send him just £10 each then they will be able to unlock a funding warchest worth hundreds of millions (squillions?).
Sounds about right …
Bearing in mind that 100 trillion Zimbabwe Dollars is worth about £200
He’s cunning that one!
I fear that wee Davie’s lost-my-homework-in-Zimbabwe excuse will make little impression on the court.
At the original contempt hearing a fortnight ago, Lord Bannatyne was at pains to state, “It is a matter of complete disinterest to the panel how he makes the offer – it doesn’t matter what trust he uses or how he raises the funds. It is about compliance with the code.”
He has already given more than generous warning that a contempt ruling is looming, and that King’s financial circumstances are of no consequence to his verdict. And once that ruling places the official court stamp on King’s non-compliance… well, it seems unlikely that the Takeover Panel will be slow to act.
Phil yer a feckin genius, keep up the good work. HH