The countdown to Sevco going into administration will begin on Thursday when the Court of Session in Edinburgh picks up on the Takeover Appeal Board ruling against Dave King.
Mounting debts, or soft loans as they are known, King’s toxic reputation plus disastrous results on the park are expected to kick in before the turn of the year as the five year old house of cards caves in on itself.
King has managed to drag his heels over his concert party actions at the turn of the year in 2015 when along-with the three bears shares were purchased without an offer being made to remaining share holders.
Most individuals caught out by the Takeover Board put their hands up and comply with the ruling but after 30 years of being able to buy justice in South Africa King isn’t used to complying with authority.
Rumours of disagreements among the three bears are rife with the club no closer to profitability while the countdown to Celtic winning 10-in-a-row grows is well underway.
Correct overview, wrong numbers. King finished. RIFC shares worthless. Buy the debt. Action starts pre Christmas. https://t.co/KoRPQICqLD
— David Low (@Heavidor) October 10, 2017
Speculation that David Murray is attempting to buy out King misses one key point
Rod McKenzie & Neil Doncaster have explicitly stated he is neither welcome or would be allowed back
Plus he’s the most hated figure in Scottish Football in 30 years
— Barcabhoy (@Barcabhoy1) October 10, 2017
Financial expert David Low was one of the first people to expose King’s on the radar wealth with his lack of investment in the club obvious on the park while infrastructure projects have been restricted to covering up the stairways with garish blue signs.
While Celtic have published audited accounts and set a date for their AGM Fibroid shareholders are still waiting to discover how costly last season was.
Further audited losses will force even the SFA to consider carefully the consequences of another UEFA licence but unless fresh donations are forthcoming with King banished to South Africa there seems little prospect of Pedro Caixinha’s team contesting for a Europa Cup place.
The actions at the Court of Session this week followed by the 2017 accounts will be the beginning of the end for the five year old club.
Having failed once to revive an Ibrox club the SFA and SPFL will be very wary of allowing another rogue club membership and having a third failure on their hands.