It’s much bigger than the elephant in the room, it has the power to bring down the much-vaunted Sky Sports deal and league reconstruction in a single statement.
Since they rubber stamped the Five Way Agreement in 2012 the executives in the Scottish game have known that it would come back to haunt them as they tried to build a bright new Old Firm future. Every club in the land fully subscribed, some more than others.
Another insolvency event at Ibrox at the time of a global pandemic is the last thing that they need. Just when their Old Firm dreams were coming to fruition.
No Financial Fair Play in line with UEFA or even the EFL left the door wide open for the perfect storm.
When a club gets booted off the Stock Exchange, when they are taken over by a core involved in a previous administration, when one of them is cold shouldered for his takeover it really is time for governance to step in and say enough.
Apply sanctions like a registration ban and demand a plan towards getting to break-even. That would at least have prevented Jermain Defoe and Steve Davis being added to the wage bill, to Bologna and Liverpool joining the creditors list.
Scottish football looked the other way. Not even a £10m shortfall from auditors six months ago raised a corporate eye-brow at Hampden.
A pandemic and Dave King’s exit have accelerated the crisis. Scottish football gets up itself over league reconstruction and a vote that really amounts to nothing in particular.
Meanwhile in The Sun Davie Provan has pointed out a rather uncomfortable reality, in fact it’s a FACT!!
CLUBS with the biggest wage bills are suffering the most right now.
In Scotland, Celtic will have the biggest cash burn. But if they’re eating into their bank balance, what about Rangers?
Reportedly requiring £10m to reach season’s end, what nick is the Ibrox balance sheet in?
With the share issue and Far Eastern investment on hold because of a pandemic, new chairman Douglas Park will need to be a magician to get Gers through this crisis. Dave King timed his exit well.
They’ve delayed it eight years but Neil Doncaster and his support act inside Celtic Park may be about to discover that their cunning plan in 2012 wasn’t quite as smart as they thought as they patted themselves on the back and dished out their bonuses.