King facing arrest
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With action underway yesterday at the Court of Session Dave King is an unlikely guest at Sunday’s Scottish Cup semi-final between Celtic and Sevco at Hampden.
Put simply the South African based criminal is now in danger of being arrested.
The Takeover Appeal Board and the Court of Session has given him every chance to comply with the laws of the land.
George Letham emailed King three years ago warning against taking their shareholding over the 30% threshold but like most things in life King listens to no-one and does whatever he pleases.
Dipping into his resources has been able to secure his freedom in South Africa but in the UK things are a little different, even for the man calling the shots at Ibrox.
In a purely Scottish content King could probably brass neck it out, in much the same manner as Dave Murray did running up massive business debts with the Bank of Scotland.
King and the Takeover Appeal Board are a different matter entirely.
For generations small shareholders have been protected from takeovers with the knowledge that they will be offered the same price if any faction takes their holding in a firm over 30%.
It’s a rule that every investor understands and accepts.
Even for a football club from Ibrox trying to stop the immigrant upstarts across the city that rule can’t be broken.
For three years King has dragged his feet while lapping up the acclaim of the Ibrox hoards and the Scottish media.
A no show at Hampden won’t attract too much criticism, turning up and being huckled away after the final whistle for contempt isn’t the sort of attention that King is looking for.