With another onerous payday just three weeks away it seems that three past saviours are plotting to rescue Sevco once again.
Despite opting out on almost £1m of shares at last months offering Mr Dave King, Mr Paul Murray and Mr George Letham are ‘locked in discussions about a multi-million pound bail-out’ according to the Daily Record.
With the bulk of the latest share issue going on the September payroll, repaying loans to Mr Letham and Mr Sandy Easdale as well as Mr Imran Ahmad’s pay-off, there are concerns about how the club will meet the wages due in 22 days.
No mechanism other than loans exist for a ‘bail-out’ with the club still to produce their audited accounts for the year ending 30 June 2014.
With no sign of the accounts, requiring the auditors to declare the company as a going concern over the next 12 months, the options for traditional lending are minimal.
Recent reports of investment coming in from Malaysia have fallen by the wayside with no-one outside a small cabal getting access to the club accounts.
At the launch of the September share issue it was widely reported that Mr King and Mr Mike Ashley had been approached and declined to underwrite the issue which just managed to get past the 75% take up level to proceed.
With Mr Murray and Mr King apparently both involved the SFA would be back in the spotlight with both men serving under Mr Dave Murray and Mr Craig Whyte as the old club was steered into administration and liquidation.
Mr King, who was described as a glib and shameless liar by a South African judge,was a director when Rangers went into liquidation and never raised any public warning about the course the club was on with shareholders, debenture holders and creditors losing millions of pounds in the process.
The likelihood of a bail out seems remote, with no sign of the accounts being published and NOMAD Daniel Stewart having their own shares suspended it seems to be only a matter of time before the Alternative Investment Market turn their attention to the goings on at Ibrox.
Meanwhile after the spectacular failure of King’s Ibrox 1872 bid to starve the club of cash supporters are again being asked to give money to mysterious bank accounts.
After a public meeting attended by almost 100 fans Sons of Struth campaigner Craig Houston spoke out about his imaginative plan to earn a blazer.
The Renfrewshire based window cleaner told the Evening Times: Â “We will also ask the fans who are going to matches on a game-by-game basis to donate their ticket money into a fund.
“Their cash will then be split between Buy Rangers and Rangers First and will go towards buying shares in the club.
“All I’m saying is: ‘I’m not going to this game’. I would ask people who are of a similar mind to do the same thing.”
UPDATE Mike Ashley has called for an EGM to remove Mr Graham Wallace, who used to work for Manchester City, and Mr Philip Nash, who used to work for Arsenal and Liverpool, to ensure that there are no threats to the lucrative retail contracts held by Sports Direct.