With no sign of answers to their letters requesting clarification the SFA yesterday found all the evidence needed to explain Mickey Ashley’s grip on Sevco.
As Gordon Strachan entertained the waiting media with his thoughts on the international match against Ireland Sevco old and new were also meeting at the Mar Hotel near Bishopton.
In timing that seems much more than a co-incidence special consultant Deek Llambias and sidekick Barry Leach met up with Brian Stockbridge with the cameras of the Daily Record there to record the moment.
Over the last five weeks Mr Ashley has requested an EGM and pumped in two crisis loans to keep the struggling club afloat with no action other than a letter from the SFA asking for clarification.
SFA rules state that an owner of a non Scottish club can’t have more than a 3% stake in a member club with that rule believed to be extended to 10% in the highly secretive Five Way Agreement that gave birth to Sevco.
Mr Stockbridge, working alongside Sevco Scotland founder Charlie Green, was one of the architects of the agreement as the rules that other clubs live within were set aside to assist Sevco. In the current calendar year the SFA have rewarded the club with two national semi-finals and an international match to boost the club funds.
While the SFA are powerless to stop Mr Ashley buying shares they can prevent the club from taking out loans with the Sports Direct supremo which allows Mr Ashley to call the shots in the Sevco boardroom.
In most circumstances penalties would be inserted into a breach of agreement but with the Five Way Agreement a closely guarded secret it seems that Mr Ashley and friends can have tea parties under the same roof as Stewart Regan and Campbell Ogilvie without any sanctions being applied.
Sevco have still to publish their accounts for the year to 30 June 2014 with the £6m injection of loans and share issues already this season suggesting that the club can’t be signed off as a going concern.
