Dave King has got just over 16 days to pay Sports Direct International £444,864.60 in interim costs with September 23 set as D-Day for the full price of King’s most recent legal defeat.
Phil MacGiollabhain has unearthed the legal papers that will bring despair to the South African businessman and delight to fans of the clubs that have suffered under King’s lawless regime over the last four years.
‘Where are they getting the money from?’ has been the question most asked during the Gerrard Revolution, that phrase will now be used in a very different way with a bill of around £10m expected on September 23 which could turn into a windfall for ice cream and jelly producers.Crucially for King his right to appeal has been rejected!
Sevco ordered to pay large Michael £450k and oh, just a few other things as well 1/2 pic.twitter.com/hmECLixcoh
— Timothy Leary (@sharko67) July 31, 2019
2/2 pic.twitter.com/Vw2PrY4yXT
— Timothy Leary (@sharko67) July 31, 2019
In a detailed 28 page ruling costs amounting to ‘many millions of pounds’ were recorded. MacGiollabhain has published a six page ruling that makes grim reading for the Ibrox club on the eve of the new season. Included in the detail is confirmation that Hummel and Elite won’t be allowed to manufacture and retail next season’s kits.
With turnover for the year to 30 June 2018 at £32.6m producing losses of £14.3m the cost of the Gerrard Revolution last term is likely to see losses increased with Close Brothers keeping the lights on with a loan approved in February.
Unless James Tavernier, Alfredo Morelos and Andy Halliday can be sold before September 2 it is hard to see how the company can pay off Sports Direct, survive without their retail income and also stoape Selik from winning the SPFL title for the ninth season running.
CLICK HERE to read Phil’s report in full.