I’m told that it is a commonly used technique in the courtrooms of South Africa.
If things do not seem to be going your way then throw in the Organised Crime grenade, up caps because it’s a thing there.
What it does is to stall the ongoing legal proceedings while the other, much more serious matter, is investigated.
Therefore, I’m inclined to believe that what Dave detonated in the Court of Session last week was fashioned south of the Limpopo.
What he has done is to shine a rather unfortunate light on everyone who was on the 6th floor of Hampden in the summer of 2012.
As the search function on this site will reveal, back then I was reporting that there was a dangerously low level of due diligence by the SFA on the founders of the new club at Ibrox.
Of course, there is a very sound reason why Dave might want to delay the Takeover Panel Case.
Quite simply, he might not have the £19m to put into any account anywhere.
A well-placed source with a keen understanding of the situation told me earlier today that the King family trust probably has around $40m (USD) tied up in various ways.
He seriously doubted that the King empire could access £19m (STG) in liquidity that quickly.
Moreover, everyone in the family trust must be in agreement to any major course of action.
Meanwhile, back at the stadium that John Brown played for Mr Gerrard is on a steep learning curve.
I think he now realises that anything that he agrees with the Director of Fantasy and the Serious Professional doesn’t really matter.
Mr King can just rip that up in a moment.
Indeed, I’m told that he already has on at least one occasion.
If my information is correct then that is the genesis of Gerrard’s recent outburst about being prepared to “fall out with people” apropos holding onto Alfredo Morelos during the January window.
Young Master Steven has much to learn about the ways of the world.
Whether or not major Sevco players are sold in early January will, in part, depend on what borrowing the basket of assets can access before then.
The Conveyancing Consigliere and the Serious Professional are being dispatched this week to seek out new sources of external finance.
You will recall that in February this year they borrowed £3m from Close Brothers.
At the time it was dressed up as an “overdraft” dispute the fact that it was no such thing.
This nonsense could be stated in the presser because the Sevco High Command knew that there would be no difficult questions from the Stenography Corps.
My information is that this dynamic duo has been told to access as much as £10m if they can.
Undoubtedly that is the worst case scenario if they are not able to sell a major player or two in January.
You may recall that in the 2017 accounts they stated that they would need £4.5m.
That October they brought in £2.9m.
Then there was a Stateside loan of £1m in December/January and another £1m shortly after that originating in the Far East.
Add that to the £3m from Close Brothers and that is £7.9m in total.
Considerably more than the £4.5 they said they would need back then.
Therefore, if the upper sum required is as much as £10m then that would in keeping with the year on year trend.
The hole is getting bigger and as of February this year no one in the Blue Room was prepared to sign cheques any more.
It would be foolish to dismiss the possibility that Mr King could find another investor to bankroll Sevco for another while.
He seems to have the ability to get otherwise shrewd business people to piss away millions in return for nothing but grief.
Meanwhile, the device Mr King detonated in Edinburgh last week should have the journalists in Scotland asking very serious questions of those who govern the national game.
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https://www.scotsman.com/sport/football/teams/rangers/revealed-rangers-have-the-highest-borrowings-in-scottish-football-1-4840260
The expression ‘no shit ! Sherlock! ‘ springs to mind….
Gerrard goes from hero to zero in a few days. Some of the loanees that he’s keen to sign on a permanent basis are getting pelters from fans tonight as is the manager for continually picking his pal Flanagan.
After throwing his backing behind Morelos the petulant Colombian threw it right back in his face.
His yellow and red cards won’t go unnoticed by suitors and will have an impact on his selling price and despite 18 months in the country he appears to have little or no English which you would have thought he could pass muster on by now.
Here we go again. Clancy disallows a 2nd Celtic goal, for what?
If anything it was a foul/penalty to Celtic.
He then allows the Well equaliser despite Gamboa being clearly barged as he tried to head clear, 5 yards from where the ref was standing.
Inexplicable.
However very funny as Gerrard defends his more sinned against than sinner, Alfredo, who then manages to get himself sent off tonight.
Big game coming up on Saturday against the league leaders.
No more slip ups please.
The FBI could’t put Al Capone away for the serious crimes that he had committed, they had to settle for tax charges before they could jail him.
I don’t think the FBI will be pleased that a 3rd party has to publicly point out that criminality is playing out under their noses in the good old USA and FBI action will be quick and effective.
Go Elliot Ness!
The King of pishful thinking provided the court with a list of shareholders he claims have agreed not to sell to him at the offer price. This is so that he does not have to transfer moneys out of SA which he will not be required to spend.
On the list are the Easedales.
They have since stated that no such assurances have been requested or given either verbally or in writing.It matters not whether they would or would not sell only that a claim has been made that they have committed to a course of action.
I am amazed during a contempt hearing anyone would give the court a document which had at least not been verified and could potentially be seen as contemptuous or even fraudulent.
The investigative journalists must have been all over this document to check the remainder of the entries.
Aye!! Right!!!
Funny to hear in the news today that Uefa are investigating Man. City for cooking their books and financial irregularities. Wonder why they won’t investigate a certain other team in Glasgow for similar issues?
They’re maybe just not important enough!
I’m guessing you said that tongue in cheek but it shouldn’t matter,Charger.FIFA,EUFA and our own SFA & SPFL are duty bound to govern ALL teams under their auspices without fear or favour.The only problem is they are all as corrupt as one another.HH
Man City’s books are “haute cuisine”… Sevco’s is more “hot potato”. 😉
Phil did you just stick that last sentence there just to see ‘if’ we’ve paying attention?
For you more than most would know that there are very few,true investigative journos in Fair Caledonia.
Indeed some would argue that there’s any at all,I can see why.Panama Papers and DD was doorstepped,this shower getting away with much worse and there actually IS a story to be investigated,not fantasy island bs.
Thanks again Phil.HH🍀
Any sign of the statement the Pied Piper was to issue before close of business today?
It wouldn’t augur well for meeting the stringent timetable set out at the Court Of Session if Kingco can’t even get his statement out via the Rangers official site on time.
Wouldn’t it be ‘just perfect’ if Channel 4s Mr Alex Thompson could be tempted to poke his genuine journalists snout north of the border again and expose what’s going on to a broader uk audience and stir the interest of other genuine journalists.
That’s your only chance of a proper journalist showing ANY interest.
Anybody would think there was either a ‘code of silence ‘ in place or a ‘fear of consequences’ within the so-called Scottish media.
As stated numerous places regarding this – if it was Celtic who were being linked (by themselves) to organised crime – there would be special supplements in the papers and extended tv news specials covering the special branch raids on Parkhead.
Never more since 2012 (and beyond ) have events highlighted the closed shop ‘radio silence’ multi-party compliance in place in Scotland regarding negative news about Sevco.
Truly Shocking.
Re. the Scottish media jumping on a Celtic ‘bad’ story – remember the BBC ( Scotland ) were very quick in the wake of the Panama Papers furore to ‘doorstep’ Dermot Desmond when they were running a tax avoidance expose .
They have been rather negligent on any investigation of the ongoing issues at Ibrokes – ‘Fit and proper persons ‘, late accounts , dire warnings of lack of solvency , numerous court cases involving a convicted fraudster posing as chairman , threats of contempt emanating from said court cases ….There’s a whole mini-series here !
Well as distractions go it is a Biggie ! He has already used a plethora of ”’look a squirrel” distractions to take the Klan’s collective gaze off the financials , including the SFA , the SPFL chairman , the referees , the Celtic support…
Once this one has served its purpose it is difficult to see what new measures he can invent to deflect – mind you , we are in the Pantomime season , so the the scope for invention is wide !
Santa , aliens, Easter bunny, ghosties, mike Ashley, ‘a big boy!’ , the pope, SFA, Peter Lawwell, Broomy, Rod Stewart,
Etc etc.
There’s plenty to blame beyond ‘the mob’
Anything but himself and his club!
Don’t worry too much about Squinty’s claim about his club/company thingy being used for money laundering purposes. The FBI has just been made aware of it (fbi.gov). I’m sure their help would be appreciated in cleansing Sevco of their toxicity, leaving them squeaky-clean and smelling as fresh as roses. 😂
FBI .., yes please. They love to stick their nebs into anything with organised crime links…
Wouldn’t a black capped task force raiding iBrokes be just perfect?
I see a movie in the pipeline…
‘Silence of the Succulent Lamb’
Check out a great book called…..The Lambshank Redemtion…..
Don’t use someone’s disfigurement as a negative, how would you feel if it was a member of your family?
Seriously?!!.. everything about the guy is squinty – particularly his “creative” business skills!!
Point out something, ANYTHING, that’s not just just squinty but positively crooked about this guy. Any decent family would disown him. He’s a pathological liar and a convicted criminal. He’s squintier, more crooked and more bent than a crippled dog’s back leg that’s been broken in numerous places. Save sympathy for someone more deserving. That would be around 99.99999999999999% of the planet’s population!