Five weeks after his WORLD EXCLUSIVE over the Ibrox takeover Keith Jackson is rapidly running out of enthusiasm for the transformation of his favourite club.
The moonbeams have quickly dissolved into reality with only a few appearances from American tyre-kicker Andrew Cavenagh keeping the fantasy alive.
The war-chest stories have dried up with a more modest approach being set out with reporters like Jackson unable to explain the substance and mechanics of the deal.
To obtain 51% of the shares the leading five shareholders will need to be bought out. Dave King would happily sell to Everyone, Anyone but there has been nothing from any of the other leading shareholders that they are willing to step aside.
Douglas Park and John Bennett have £23m of interest bearing loans in the club, they can demand full repayment at any time. If they are unhappy with being forced out they have the option of demanding full repayment.
Ignoring all of that Jackson reveals that the takeover will be ‘concluded in the coming weeks’ keeping the story alive Murray Park is going to get a lick of paint and a new lawnmower to restore it to its original ‘state-of-the-art’ status.
The latest ‘exciting’ update in the Daily Record reveals:
The four-man delegation carried out a fact-finding trip behind the scenes to the complex near Milngavie on the north of the city.
And they are already drawing up plans to make immediate modernisations and improvements as soon as the ink dries on the multi-million deal to take over control.
As we first revealed, Cavenagh has joined forces with the investment arm of the San Francisco 49ers to put together a buyout which will see them snap up a shareholding of more than 50 per cent.
Cavenagh’s lawyers are still going through an extensive process of examining paper work and rubber-stamping the agreement but it’s anticipated that a formal agreement could be signed off and concluded in the coming weeks.
The longer that the saga keeps running the lower that the nominal price drops, with 51% of the shares in the club apparently up for sale there hasn’t been a sniff of a rival consortium coming in to take over the troubled club.
But it must be true . Keef said it and he wouldn’t get conned. Oh wait a minute .
Keith thinks they’re going to be flying over Govan in helicopters dropping crates of cash everywhere
“ rubber stamping “ … is that an more eloquent term for tyre kicking ?
Ha Ha – Very good indeed buddy !