Sevco fans are feeling the first effect of the cold shoulder for Dave King with MBNA withdrawing their branded credit card.
For over 20 years fans have been able to use a club credit card that sent a token commission to the club every time the card was used. This arrangement continued through administration and liquidation.
While the commission hardly made a difference supporters got a kick out of using the card with a club crest and team picture which was the financial equivalent of a masonic handshake.
I’ve used an MBNA credit card whereby every time I spent on it money was contributed to Rangers Youth. This is now coming to an end as detailed in pic. Anyone know if there is something similar taking its place? @RFC_Colin pic.twitter.com/scO7yeaIai
— Cheryl (@gers_chick) March 29, 2018
We got the same letters today, will be no need to use that card now knowing this.
Hope the club finds another credit card partner soon.— Ian (@yanster57) March 29, 2018
Takeover Panel sanctions begin to bite as major credit institutions begin to cut ties with The Rangers International Football Club ( formerly Rangers*FC before dying.)https://t.co/XwsWSDhQvW
— Fly The Flag. (@_John_Smith1967) March 29, 2018
They sent me this too about no longer doing Rangers credit card.. don’t know if it has any significance though lol! pic.twitter.com/p0CncoPmgK
— Loraine Riddick (@LoraineRiddick2) March 30, 2018
Fan forums commented on the development recently with some supporters taking to social media to question the decision.
With King ignoring the 30 day deadline to produce a prospectus to buy shares at 20p from those outwith the concert party that swept the South African based criminal to power Sevco are in limbo.
A whole range of sanctions will be enforced with no finance company prepared to do business with any company associated with King.
Should Close Brothers demand the return of their £3m loan provided in February Sevco could be forced into administration with liquidation almost unavoidable.
