Sadly, it has been discernible over the past couple of days that the current custodians of the Ibrox brand continue to have the succulent obedience of the local media.
Anyone landing on Planet Fitba from another footie galaxy would not know that Rangers (Est 1872) was liquidated in 2012.
The shabby truth is that anyone who controls the home dressing room at Ibrox has the unfailing services of the succulent media.
That is why there are only ever feel-good puff pieces about matters Ibrox in the Scottish press.
Meanwhile, I’m told that all is not entirely well with the Sevco High Command behind the scenes.
There have been ongoing conclaves about the small matter of the director’s indemnification.
This is apropos the likely outworking of the Ashley litigatio0n.
The good news is that individually directors have indemnity from any action by His Sports Directness.
As discussed in dignified conclave, the rather less welcome news is that the premium for this indemnifying insurance is quite high.
At least one Senior member of the Sevco High Command has stated that the payments are at such a rate because of the reckless malfeasance of the ex-chairman.
My information is that the brethren have discussed the possibility of reaching out to the Conveyancing Consigliere.
In fairness, it would be the smart move.
Their hope is that the legal genius will propel the ex-Chairman under the moving wheels of a road-going public conveyance.
I would imagine that Mr k|ing isn’t losing too much sleep over that possibility as he knows that his contract guy is also implicated in the Ashley litigation.
It is worth noting that although the current directors are not personally at risk from any bill arising out of the Sports Direct case, the current Ibrox entity is not in the clear.
The only thing, at this stage, to be decided by the judge is just how much Sevco owes Big Mike.
For the avoidance of doubt, it will be the Engine Room Subsidiary that will have to cough up the many millions to Big Mike for Dave’s car boot sale.
The club itself is in the clear.
Nothing can happen to the club.
After all, 2012 proved that.
Didn’t it?
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This case sums up everything that is wrong with our legal system. It takes too long and is tooo expensive. Frankly this could and should have been solved years ago … it’s an indictment on why our legal system is not fit for purpose.
mike is in win / win territory – sevco get in the CL then they have plenty money and no excuse, sevco don’t get in the CL the clumpany may be ‘in distress’ and in need of a fresh deal?
Seriously!!! How long have we been waiting on this judge to come to a conclusion. The wait goes on.
Aye. I would have thought when he made the “many millions of pounds” statement in his judgement that he had a ballpark figure in his head at that point.
Now, call me an old cynic, but the brotherhood has much influence in the law courts of England. Even more so than up here.
As the Judge seems to be taking an inordinate amount of time to come up with an answer…and knowing that he follows Phil’s blog keenly to keep abreast of what’s going on…
I can confirm that I have an abacus from my University days which I will deliver personally to His Judgeship if required.
Please get a move on Sir.
Tik tok.
I had thought that the Patterson money would be used to settle the Ashley bill. I assume it’s already been spent my now though.
Did they not still require another confetti share issue after the sale of Patterson?
Mon Big Mike. HH