When an asset can become a liability

One would think that all would be rosy in the garden for the Sevco High Command at the moment.

After all, they will go down in klan folklore as the chaps who were in the Blue Room when Celtic blew the Ten.

Yes, the klan disgraced themselves in George Square to such an extent that even some of the Stenography Corps had to whimper some very mild condemnation.

That isn’t what is concerning the chaps in the Blue Room at the moment.

As ever with matters Sevco, it is always wise to follow follow the money.

I’m told that they are rather irked at their ex-chairman in Johannesburg.

It would appear that the dignified ones in the Blue Room thought that they had a deal with him.

In an amazing turn of events, it would appear that Mr King might not have been good to his word.

I know,  I know.

Dear reader, it came as something of a shock to me too.

Well, my information is that he has formally called in his loan.

Oh dear.

That word “formally” was used to me late last night by an impeccably placed source who is in a position to know.

The Blue Room brethren also view his triumphant appearances in the media as part of a campaign to aggressively sell his shareholding to the jubilantly gullible klan.

This isn’t the only problem that the Sevco Hi8gh Command are facing at the moment.

At the pre-trial sit down with their QC, they were told that the likely outcome of their dispute with Sports Direct was …well… sub-optimal.

Now, this is where things got somewhat glib and shameless.

Mr King does not want any assets in the UK if and when Big Mike wins his case.

Hence, he wants his loan paid back rather sharpish.

Even before a verdict is handed down, there is a danger of Ring Fencing.

It is worth remembering that the Elite/Hummel deal (aka the Sevco car boot sale) was Mr King’s idea.

The Conveyancing Consigliere drew up that cunning plan.

Of course, General Ashley did not interrupt his enemy as he observed him making a huge mistake indeed.

Finally, there is the small matter of squad bonuses.

Some in the Blue Room were prepared to be hypothetically generous with these at the start of the season.

Especially as they thought it was improbable that they would ever have to be paid.

Oops…

Moreover, it is just as well as Hector is in a forgiving lockdown Covid inspired mood at the moment.

That said, he will have to be paid at some point.