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Regan’s claim of unprecedented due diligence backfires

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The were condemned again yesterday when they put the future of Scotland’s newest club under threat.

With the being successful at the they are now just 29 days away from pushing Sevco over a cliff.

While and chums carried out ‘unprecedented due dilligence’ on Dave King one incredible factor seems to have been missed out by the legal team appointed by the SFA.

One phone call to former Sevco chairman Dave Sommers or to an office junior in the City of London could have saved further embarassment.

King had clearly admitted to working with the three bears to buy up over 30% of the shares in the company- an offer would have to be made to all of the remaining shareholders. True to form King ignored the regulations.

Why Regan didn’t ask that question to the South African based criminal is a mystery. If he asked and was fobbed off with a lie then he is unworthy of his £300,000 p.a salary and should resign while the issue a statement that Sevco face sanctions if King isn’t removed from the board.

In May 2015 the SFA issued this statement: “In considering the request (King to become a director), the Board of the Scottish FA has sought and received specialist independent legal advice, both in Scotland and South Africa, in respect of Mr King’s conviction further to the South African Income Tax Act and in relation to his previous involvement as a Director of the club. It has also received significant documentation from relevant authorities both within the UK and South Africa.

“The scale of this due diligence is unprecedented but befitting the complexities of the consideration placed before the Board. During this exercise both Mr King and the club were fully co-operative and responded to all questions put to them by the Scottish FA.

“On the basis of this advice presented to it, and having considered all submissions received from Mr King and the club in respect of this matter, the Scottish FA Board granted an approval, conditional upon further submissions from Mr King in respect of documented agreements with the appropriate authorities in South Africa.

“The Scottish FA can confirm it has now received this supplementary documentation in full and the Board is satisfied Mr King is Fit and Proper in terms of Article 10.2.”

For almost three years the have been able to hide, not one member club has challenged the decision on King.

The problem hasn’t gone away, with King onboard Sevco face a bleak future with the cold shoulder impacting every aspect of the club before payday in January.

As the sixth anniversary of Day approaches it seems that no lessons have been learned by the with any scheme or scam from welcomed with open arms whether it is delivered by Craig Whyte, or Mr King.

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