Dave King launched a savage attack on Mike Ashley and Sports Direct at this morning’s Sevco AGM- less than two weeks before he faces charges of breaking a court order on the issue!
In a move that is likely to bring a further charge against the South African based criminal King played to the audience at this morning’s meeting while failing to address the going concern warning that accompanied the club accounts..
In June Sports Direct got a court order put on the club to prevent anyone discussing the merchandise and retail contracts. In July Mr King talked openly about the contract to Sky Sports with his script at today’s AGM repeated on the club website.
“The new board has faced difficult but perhaps not totally unexpected challenges since it was installed,” the Sevco chairman explained. “Not the least being the incessant litigation by the Sports Direct Group under the guidance of Mike Ashley.
“Sports Direct appears to be working to an agenda which, very clearly, is not assisting our Club’s full rehabilitation. There is a desire to drag Rangers through the courts and thereby slow our progress rather than seek compromise or fairness.
Referring to the court order King added: “I would, of course, like to discuss every aspect of the business with all of you here today because you are entitled to know as much as possible about what is going on with, and in, your Company, but unfortunately certain legal rulings make that impossible.
“Sports Direct’s gagging order has made it impossible for your Board to answer all of your likely questions today and I have asked James Blair to intervene if he feels that a particular question, or answer, might lead to a breach of the injunction. I trust that you can understand and appreciate our position.
“In particular, Sports Direct’s gagging order against the Company and its officers means I cannot talk about the manner in which a vital and historically very profitable part of our business has been managed under the stewardship of Sports Direct and its senior management.
“The relationship with Sports Direct continues to impact on Rangers but as long as we, all of us, stand united we will succeed in ultimately securing more mutually beneficial partnerships in the future.”
Mr King will appear in court in London on December 8 charged with breaking the injunction, King claimed at the AGM that the £5m crisis loan to Sports Direct had been repaid.
Repaid, eh? Have Sevco got a printing press installed in the Blue Room of Dignity?
They decided to repay it and he got a phone call earlier to say the money was available and the loan will be repaid shortly… £400k for the SFA? £2.5m per month to keep the lights on? Stadium falling to bits, ton of legal costs coming…. Soon to be debt free and one of the wealthiest clubs in the world.. Anybody else smell shoite?
Ashley has a seven year rolling contract with Sevco that’s water tight. IF they pay the loan back he still gets 51% on all merchandise deals. If they boycott and don’t buy merchandise they still have to make up the difference. If they want to buy him out their contract it’s 27 million, and he’ll walk away. Seem to remember King saying, he wanted the zombies to out spend the Celtic fans to help Sevco, or was that just another lie from the GASL. Shopkeepers that are way out their depth, on how to run a football club, good enough for them.
HH
So no administration then?
Or is that next month ahahah
And the breadman is getting a ten million war chest..
Fair play to big chris sutton last night the big fella looked hurt as we all where…THE CLUB HAVE TO TAKE A LOOK AT THEMSELVES…says it all for me underachieving big style how can we attract a top manager when the present board don’t want to fund the playing staff i believe it will get worse i wish the board had the passion big chris showed last night..HAIL HAIL
I see Deila is saying he is preparing for the CL next season.God help us,we have’nt even won anything yet and he says he is preparing for the CL.Does this mean he was not preparing for the last three CL qualifiers,or the Europa cup.Anyone who believes a word this imposter says,is being deluded.
What credentials did he have to be manager of one of the biggest clubs in Europe.Sorry but he needs to be gone now or we will end up a laughing stock here as well as in Europe.