I was grateful to a well-placed Ibrox source for getting in touch.
This person was able to flesh out some of the details about the recent spat between Mr David Cunningham King and the Sevco High Command.
Of course, I know that the Johannesburg based chap was primarily motivated by money.
However, I didn’t know the details.
Until now…
My source said that the reason that the ex-Sevco chairman had , to use a currently popular phrase, “gone full tonto,” was a recent share issue by the chaps in the Blue Room.
Actually, I lost count of the RIFC share issues Quite a while ago.
Football finance expert David Low keeps a knowledgeable eye on this stuff.
All I know is that the ten-year-old club is kept afloat by copious amounts of share confetti.
Now, I’m told a recent issue put the value of RIFC shares at 10p.
This is less than half the 26p that Mr King wants for his remaining shareholding in the company.
It probably didn’t help that there was a free and frank exchange of views between the Blue Room and Johannesburg about the director indemnity insurance.
Big Mike is still pursuing his case through the courts.
As well as briefing the local media, Mr King had a dignified sit down with his ex-colleagues.
Sadly, the quality British sit down broke up without agreement.
That is also the case with another Sevco conclave within the last week.
I’m told that the Serious Professional, the Director of Fantasy and the in house PR Superhero met with a player and his representative.
My information was this was to conclude some sort of contractual issue.
As the impasse seemed unmovable, I’m told that that diplomatic initiative in Ulsturr Scatch was launched.
Yes, launched…
The thing is, both sides often tape these business meetings.
Now, if there was a functioning Fourth Estate on Planet Fitba, they might want to check this out.
Then again, they probably know ALL of the salient details.
Sadly, the usual succulent rules apply.
One day, my hope is that real journalism might break out.
I know, I know…
Discover more from Phil Mac Giolla Bháin
Subscribe to get the latest posts sent to your email.
I’m given to understand that DK was not invited into the Directors’ Box at the weekend and had to watch the game behind perspex in the Hospitality Area.
They have arranged a day in April for a talk show with some x player and wanting £75 a pop for egg sandwiches and a packet of crisps that should tide them over till season book time
The Companies House site lists the the lasr few issues at 25p per share. Is the 10p one not yet published or are they playing fast and loose with Companies House?
Isn’t 25p just a Nominal value? The true value goes up and down constantly and no company could reflect that on a share certificate. The usual situation however of for the real vue to be far higher because prices rise over time. As an example Tesco shares trade around £2.70 but are officially called Ordinary 6.333p shares. As usual Rangers seem out of step with normal financial practice!