Sports Direct are taking Dave King back to the High Court to reinforce the gagging order preventing the Sevco chief from discussing the contract between the two companies.
Since taking control of the blue room in March the South African based businessman has been banging on about the unfairness of the deal between the club and the sportswear giant. Sevco owe Sports Direct £5m.
Running in parallel a series of damaging stories have leaked out of Ibrox that are highly critical of Sports Direct and the self-made tax paying billionaire Mr Ashley.
When the Daily Record ran a story claiming that there was a seven year notice period on the contract Sports Direct went to the High Court in London and got a gagging order placed on the club preventing them from discussing the deal in public.
Days later 56% of the holding company shareholders voted against a motion to repay the £5m loan taken out from Sports Direct in January. That loan was taken out with security held over the state-of-the-art Murray Park training complex, the iconic Albion Car Park with the club trademarks and IP rights also surrendered to Sports Direct.
King’s constant undermining of Sports Direct appears to have snapped the patience of Mr Ashley whose former colleague Deek Llambias was kicked out the club as part of the shameless revolution in March.
Shortly before that vote Mr Llambias, in a rare media interview, asked where the money was coming from and who would be Mr King’s Nominated Adviser. Shortly afterwards Sevco were booted off the Alternative Investment Market with the South African based businessman still to invest a penny.
According to today’s Daily Record Mr King, Paul Murray and John Gilligan have also been served with papers enforcing the gagging order.
On the day of the revolution when he finally gained a cherished blazer Mr Murray stated: “I would personally like to take the opportunity to thank the Daily Record for its courageous journalism over the past four years – and officially confirm it is no longer banned from Rangers FC.”
Mr King, who was described as a glib and shameless liar by a South African judge, made a low key visit to the club last week, during which he again attacked Sports Direct.
At the heart of last week’s rant Mr King revealed: “Sports Direct continues to litigate with the Club in an attempt to enforce its wishes and demands. This seems based on the simple logic that Sports Direct can outspend the Club in legal fees and thereby deal with the Club as it pleases.
“I assure supporters that the Club will not be cowed by this threat and the recent lack of communication (as a result of the gagging order) belies the level of robustness with which the Club’s interest has been and will be protected.”
Incredibly Mr King added: “Furthermore, I have sent letters to Sports Direct in my capacity as a director of Rangers Retail Limited taking them to task for poor business practices and corporate governance failures.”
It seems that that slur could have pushed Mr Ashley over the edge and determined to expose Mr King after a year long sniping campaign.
By slapping in a demand for repayment of the £5m loan Sports Direct could push the club into administration. Ashley seems reluctant to take the blame for that and is intent on exposing the empty promises of King at every turn.
Next Thursday Charles Green returns to court to claim his legal expenses from the club he formed in 2012. The legal bill contesting that case and likely defeat could push the holding company towards administration.
On the park Mark Warburton is hoping to complete a deal in the next 48 hours to bring in former Derby County powerhouse John Eustace to shore up his side’s faltering promotion campaign.
Laurel and Hardy are at it again, have to hand it to them they provide us TIMS with great Entertainment.
The comedy continues. How can the bread man talk about bringing players in to a club that looks more and more every day too be sailing down the Swanee once again. And not soon enough. ! The bread man has now got the same arrogance as the rest of servco with the same attitude as King. Where is the money? What a laugh.
Shambles off a football club rotten to the core they were quick enough to take the mans money but not quite so quick on paying it back.Lets hope they get what they deserve once again and the sooner this club is no more the better for scottish football..Hail Hail
Enough about that shower great news big biton has signed a new contract the lad has been a revelation
Must agree Billy, the lad is doing marvellous, hope he stays free from injury and they build a team around him
To all you obsessed zombies that come on here, mind what King said, we need the sevco fans to out spend the Celtic fans, while a sit in a mansion in South Africa, drinking ma 30,000 bottles of wine.
HAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHAHA
HH
Ha Ha on the Eustace saga its the longest 48 hours I can remember, also how many will they have come January all these loan deals, neverending stories
The first opportunity of a managerial job down south , Krusty will be off like a rocket.
Off like a banger more like
I owe the bank for my mortgage 40k if I vote with my wife and kids not to pay it what happens yes I’m kicked out.
How can a board take a vote to not pay back a loan which gives them their lifeline back? 5 million and they had back the retail revenue. I just don’t get it.
Something is going on which isn’t right and once again everyone associated with them are putting their head in the sand as if it’s not going to happen whilst blaming everyone else. King in my opinion wants another admin, and will blame Ashley.
More jelly and ice cream anyone.
Big Mike turning the screw haha
The Huns raging saying he’s a bully and they hope he dies ( which would change nothing)
Only if they used £5m of the £30m war chest to pay him HIS money back things could be so much better.
That dafty from SOS Craig somebody says he can take on Ashley the bully and win they’ve done it before haha Ashley must be pishing himself at the clowns
The pace of events seems to be picking up.
The last two statements coming out of Govan have desperate written all over again.
Once again our media, bless them, are trying their best to point the finger of blame at Ashley and SD.
No one questions the PR blitz that’s been unleashed since the new board rode into town.
Only a few weeks ago King claimed the club was comfortably funded for the next 6 months, now hey ho it’s more soft loans as and when required……what kind of media do we have that not one of them asked the obvious questions.
If the Daily Radar headline is remotely correct, I know, I know, then wouldn’t it be a hoot if King was in the clink before any of his predecessors………..time for a long safari Dave and leave your mobile at home beside your wallet.
Part Panto, part Ealing comedy, the gift that never stops giving.
Only 3 years till the Champion’s League music is heard again at Ibrox, that will sort everything.
The Bears fan with a typewriter in the ET, Chris Jack, printed an article headed ‘Warburton defends cancellation of Dumbarton game’………… now this is as big an open goal for any journalist worth his salt. CJ made absolutely no comment whatsoever, good enough for the Magic Hat, good enough for me.
Here’s a few questions that sprung immediately to mind, feel free Chris to use them next time!
Q: the game has been moved from the Saturday of international fixtures week to Tuesday 1st December. Won’t that impact on the attendance and lose income badly needed by the club?
Q: what about the fans who have already made travel and accomodation arrangements….will they be reimbursed?
Q: 5 young players have been called up by their respective countries, all at various age levels. Not one of these players made the starting line up against Hibs……..why then was it necessary to move the game?
Q: The opposition, Dumbarton, are 2nd bottom of the Championship, shouldn’t the squad be able to do a job on them without some missing fringe players?
Q: Warbs, you have made great play that bringing in 5/6 players in the window could affect squad morale….fair enough, but how will those in the squad that might have got a game, or at least a place on the bench, feel when you obviously don ‘t trust them to do a job on Dumbarton?. No disrespect but they are hardly Real Madrid!
Q: if indeed you are hinting to the Chairman that the squad has no depth then surely you should be looking to bring in 5/6 players in the window, especially if some of the loanees return to their club’s?
Q: will you continue with this policy on future international weekends, even though no one from your strongest starting eleven is called up?
To be fair to King Dave, he knows “poor business practices and corporate governance failures” when he sees them.
Courageous Journalism, Daily Record, are they getting courageous and cowtow mixed up? It’s pure drivel and reeks of sleekit crawling pish.
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