Dave King has claimed that he has already invested £18m of the £30m that he promised Sevco when he swept to power two years ago.
In their last set of accounts Sevco owed £17m in soft loans that are to be repaid in December 2017.
King’s investment seems to be the money needed to match month to month expenditure rather than ground improvements or buying players.
After the botched departure of Mark Warburton the South African based criminal was forced into a statement to keep the people amused.
As ever with King it was light in detail and high in moonbeams.
Explaining the ‘investment’ he stated: “£18 million of the originally estimated £30 million investment has already been made.
“Ultimately, the overall investment in any football team is driven by the net player spend and, given that we are behind target with our squad, there may be a further need to accelerate investment at the end of this season.
“It is my present personal view that we will, in all likelihood, invest more than £30 million before we are where we want to be but this will be revisited once we have a new permanent management team in place.”
With no NOMAD and shareholders twice rejecting a move to issue new shares to selected investors there is no detail on how Mr King is going to invest a further £12m.
King was also scathing of Mark Warburton in his statement which should help the constructive dismissal claim of the former city trader.