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Soccer guy walks away from Sevco deal

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gazeboSoccer guy Robert Sarver has walked away from his Sevco rescue plan.

After seven days of free publicity Mr Sarver has announced that there will be no further bids for the club to the distress of his three sons who were told about the heroic European exploits of Rangers (IL) by former Aberdeen left-back David Robertson.

With Mr Sarver out of the equation only Mickey Ashley or the Three Rebel Bears can up with the funding to ensure that Sevco avoid administration before the end of the month.

Faced with increasing hostility from an ungrateful support it seems unlikely that Mr Ashley will provide any further loans leaving the Rebel Bears to plough in the cash or watch an insolvency event unfold within a month of buying shares

Announcing his departure to the Alternative Investment Market Mr Sarver said: “I’m disappointed the Rangers board has rejected my revised offer, which addressed the club’s immediate and long-term needs. Clearly the current directors have a different path they want to go down.

“I hope for the sake of the club and the fans, who’ve been very warm and supportive towards me, that it works out. I wish the club and fans the best of luck. If they want my support in the future, then they only have to ask.”

According to AIM regulations Mr Sarver can’t submit a further ‘bid’ within six months.

Rejecting the soccer guy proposals the club announced: “It was announced by Rangers this morning that the board of the Company had rejected that revised proposal on the basis that they felt it unlikely that the approval of shareholders holding sufficient shares would be forthcoming, and that therefore the board did not intend to hold the general meeting that would be necessary to implement the proposal. The board did not make any counter proposal.”

Dave King, once described by a South African judge as a glib and shameless liar, is believed to be waiting in the wings for further developments.

It now falls on the Rebel Bears to come up with their own rescue plan but a fortnight after making their share purchase the group have still to state their intentions.

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