Graeme Souness has confirmed that Brian Kennedy has virtually given up hope on taking control of Ibrox.
Following the rejection of South African based tyre-kicker Dave King Mr Kennedy appeared ready to save Sevco with the offer of a £3m loan.
That deal was rejected by the Ibrox board who rubber stamped a £2m secured emergency loan from Micky Ashley that ensured that the October payroll was met.
Within 48 hours Mr Kennedy had returned to his Manchester base with the chance of getting a foothold further away than ever despite shares still being traded in large volumes on the Alternative Investment Market.
Discussing the most recent efforts by the Sale Sharks supremo Souness revealed: “When we met a couple of weeks ago, we never went into detail because, the last time, we believed we had it. Brian believed he had it only to be let down and deeply disappointed. We even came up to watch a Rangers and Celtic game because we believed we had it.
“I think this time around he was always thinking the worst. Given the structure the way it is now I would think that’s it finished now.
”I’m angry about it and saddened by it in equal amounts because a lot has been allowed to happen. I don’t want to get into being involved in a libel case. All I would say is that if we had got it the people there would have had the club for the right reasons.”
Despite quitting Ibrox in the heat of the 1991 title race Souness has retained close ties with Ibrox through his friend Dave Murray.
After the club went into administration he was linked to Charles Green’s consortium that failed to save the club from liquidation.
While Ally McCoist and others were won over by the big handed Yorkshireman’s charm offensive Souness had Green sussed out early on in the drama, referring to the businessman as that pr***.
“The guy who knocked on my door one night asking me if I would get involved in it, with him, Charles Green,” Souness recalled of the events in the spring in 2012.
“Late one night about 11 o’clock, my answer was no. I got a phonecall about an hour before that saying he was coming to see me. I had been asked to see him and I had refused.
“I got a call an hour before to say he was on his way to see me. We went for a cup of tea at a hotel around the corner. You’ve got me angry now…”
Sevco have still to publish their audited accounts for the year to 30 June 2014 with the odds reducing that they will be able to stage an AGM which could lead to sanctions from the Alternative Investment Market.