Over three years on from taking control at Ibrox BBC Scotland have finally exposed some of the dubious business practises of South African based criminal Dave King.
Earlier this month the Sports department of BBC Scotland were happy to promote his claim that he was being bullied by the Takeover Panel without daring to follow up with a supplementary question.
Last night, possibly in a bid to bury bad news in the Friday night internet graveyard, Douglas Fraser laid bare some truths about the Ibrox supremo and his low to non-existent regard for the law of the land.
Fraser is business editor of BBC Scotland and attended the Court of Session on Friday morning to hear the latest chapter as King continues to run up legal fees with no intention of putting £11m into a UK account to make an offer to shareholders outwith his concert party.
While he prepares for a formal Contempt of Court charge on August 16 the theme running through Fraser’s report is the utter contempt that King has for the Takeover Panel and the regulations that they administer.
The briefest look at his business career in South Africa would confirm that the Ibrox chief does things his way with that approach endorsed by the fawning media coverage that he has been given in Scotland.
While the words glib, shameless and liar accompany the reports of almost every internet bampot the BBC and others have hung on to every word and promise King has made.
Tellingly Fraser’s report highlights:
Yes yet again, the Scottish courts are taking a long time to handle this. I’m told it could have been taken to an English court, and would probably have been concluded a long time ago.
More than three years on from taking control at Ibrox he has still to find the promised NOMAD, there is no sign of any share issue while his promise to the club auditors to underwrite £4m of losses in the year to June 2018 was dropped and replaced by an emergency loan from Close Brothers. That deal was passed off as a breakthrough overdraft facility!
Next up for King is the Sports Direct injunction against Sevco’s retail and distribution deal, it won’t surprise internet bampots when the third party retailer and Hummel walk away from the toxic Ibrox brand.
Without another mystery benefactor appearing Sevco look like running out of cash before Christmas. Unless an £11m bid comes in for Alfie Morelos from China Close Brothers will be grabbing the Wi-Fi and pie stalls as security before BBC Scotland get around to announcing that it’s administration (ice cream and jelly) time.
Hopefully this time it’ll be a full on administration with savage cuts and no sweet-heart deals negotiated to keep the tribute act performing.
CLICK HERE to read Fraser’s breakthrough report.
