The crisis as Sevco will be extended until March after Dave King was given two days to appeal against the Court of Session verdict to back the ruling from the Takeover Appeal Board.
Unlike the big tax case this issue can’t be kicked further into the long grass with King given two days to appeal on February 28 and March 1.
The South African based criminal engineered his takeover three years ago and has refused to make an offer of 20p per share to everyone outside of his concert party.
The Takeover Appeal Board are looking to enforce a number of sanctions with King refusing to play by the rules.
It’s believed that other factions on the Ibrox board are looking to oust King with the so-called three bears no longer prepared to provide soft loans.
Failure to comply with the Court of Session ruling would have brought matters to a head but that issue will now be pushed back leaving the club to limp on dependent on further funding from King.
At least two pay-days will have to be funded with very little cash coming in until the visit of Celtic on March 10.
The failed attempt to buy Jamie Murphy from Brighton illustrated the lack of cash at the club with Graeme Murty now reduced to working the loan market during the transfer window.