After a week of speculation that a bail-out was imminent serial loser Dave King is back in South Africa without the keys to the fabled Blue Room of Ibrox.
Speaking to Sky Sports last week King, described as a glib and shameless liar by a South African judge, said ‘yes, we are’ outside Ibrox after being asked whether he was confident that his rescue bid would be accepted for the crisis hit club.
Mr King ‘s optimism stemmed from talks with chief executive Graham Wallace, who used to work for Manchester City, and other board members but as he jetted home King realised that the main power brokers were absent from the meeting.
After failing to even get a response from Cockney billionaire Micky Ashley to discuss the looming crisis Mr King had to settle for a phone call with Sandy Easdale who served a jail sentence in the nineties for VAT fraud.
As he flew back to South Africa Mr King’s statement admitted: “I attempted to meet with Mr Ashley on my visit but neither he, nor his colleague, Mr Bishop, acknowledged my request for a meeting.
“This is their right but is unfortunate given the present concerns from supporters that Mr Ashley is using his shareholder status to put pressure on the board to alienate the rights and trade mark of the club in favour of his personal interest. I will make a separate announcement and appeal to fans on this topic at the appropriate time.”
With his vast experience of failed boardroom bids King also issued a rallying cry to supporters that he’ll be back again with another attempt at power.
“In any transaction of this nature there are a number of interests to be consulted and considered.,” he added. “The board has apparently engaged constructively on our proposal while advancing its own points as to what it believes is in the best interest of the club and its shareholders.
“Sandy Easdale has similarly apparently engaged constructively including highlighting some concerns. I have today responded to these concerns in writing. He will now consult with his co-shareholders and hopefully revert soonest so that we can proceed to agreement and the earliest possible implementation thereof.”
Despite the attention given to his appearance Mr King’s ‘bail-out’ never stood any chance of success with Mr Wallace going through the motions of appearing to show interest in fresh investment.
With Mr Ashley holding 9% of the club shares and Mr Easdale responsible for a block of 26% Mr King’s plan to dilute shareholding was never going to get off the ground.
Meeting the November payroll now looks like being a major challenge for the troubled board of directors with Ally McCoist’s January spending spree now on hold.
Sevco have still to publish their audited accounts for the year to 30 June 2014 raising fears that auditors Deloittes are unable to sign the new club off as a going concern.