Saviour King fears Sevco can’t pay February wages
The man described as a shameless and glib liar by a South African judge during a prolonged case in which he was found guilty of 44 offences each worth a two year jail term has voiced his fears to the Daily Record.
King was in Scotland in November for talks with Jim McColl’s rebels but was unable to strike a deal with the Easdale brothers to get a new blazer for Paul Murray.
The South African based billionaire has regularly voiced his concerns about the finances of the new club and earlier this season predicted that they would be in administration by Christmas.
That prediction fell flat on it’s face but looks to have only been delayed as the final money from the December 2012 IPO is used to pay off former finance director Brian Stockbridge.
Sevco’s finances have been under increasing scrutiny in recent weeks following Graham Wallace, who used to work for Manchester City, decision to hold conceptual discussions with players about pay cuts.
Those discussions were rejected by the players who were backed up by £825,0000-a-year manager Ally McCoist in clear contempt for the current board.
Just over a week ago the paranoia of the board was illustrated by a statement from Wallace denying the claims by an Irish based blogger that the clumpany had been holding emergency meetings to discuss the deteriorating financial position.
In January Wallace told the Daily Record that there was no chance of the club going into administration which delighted McCoist.
As recently as Friday the former Question of Sport skipper was optimistically dismissing administration saying: “He [Wallace] has categorically told me that will not be the case. He told me once and if that changed he would have told me otherwise.
“He told me that’s not the case and that’s good enough for me.”
Now two years and three days on from Craig Whyte putting the original club into administration it looks certain that February 2014 will deal a similar fate to Sevco.