Dave King will hold crisis talks with his Ibrox investors today as the clock ticks towards April 12 and the need to raise £7m to underwrite the demand of the Takeover Panel. Finding a NOMAD to manage the issue is even less likely than coming up with the funds.
According to the Daily Record, King’s visit will be of the whistle-stop variety with a return flight to South Africa booked for tomorrow.
While Brother Pedro gets a photo opportunity with the South African based convict it’s the talks with Douglas Park, George Letham and George Taylor that will be telling.
Having been lured into a concert party by the absentee chairman the three bears/bares will feel the consequences if their leader fails to comply with the demands of the Takeover Panel.
While Mr King can disappear back to South Africa with little fallout the reputation and credibility of the bears will collapse for their role in assisting King’s backdoor takeover.
For Park the consequences could be catastrophic with his motor group being cold shouldered by financiers and business partners in the cut throat business- steering well clear of a firm that becomes toxic due to their association with King.
On Tuesday the mainstream news outlets carried the story of King being fined by the Johannesburg Stock Exchange, once the Takeover Panel issue their sanctions there will be no hiding from the fallout that could sink the tribute act less than five years after being launched by Charles Green.