The club from Ibrox want to offer SPFL clubs interest free loans based on their current league position.
That of course would give Stewart Robertson’s club the second biggest loan- and leave the SPFL liable in the case of liquidation just like 276 creditors were in 2012 under the old club.
A report in The Sun reveals details of the plans which Robertson has been working on in tandem with his role on the board of the SPFL.
Yesterday the SPFL board put out their own proposal to open up the pot of prize money but this afternoon a bizarre Ibrox alternative has emerged with The Sun reporting:
The Ibrox side’s alternative plan calls for an interest-free loan to be distributed from the league to clubs on the basis of the current table, money which can then be ‘set against’ the sums due once the final placings are known.
But like all such proposals, it must go through the league’s lawyers before being sent out to the rank and file clubs for approval. And it remains unclear exactly when the SPFL board will be able to sit down to discuss the matter.
That proposal highlights how hollow yesterday’s corncern for the finances of lower division clubs really was.
Earlier this week an Ibrox statement revealed that players and management had agreed a deal to defer wages with very little in the way of detail.
In November Dave King announced a £10m shortfall for this season with the South African based businessman walking away without solving that issue or preparing the share issue that he promised.
Proposing that the SPFL give them an interest free loan highlights just how desperate things are at Ibrox with existing shareholders no longer prepared to underwrite the losses.