Dave King is today reeling from a court judgement from the City of London Takeover Panel which has applied the black spot to him for a period of four years.
Known as “cold shouldering”, it is the regulator saying that King cannot be trusted to follow the law, and it is a notice that no company which deals on a regulated exchange should do business with him.
Their announcement says that this does not directly affect the club; they are, of course, correct.
But the black spot is not something that can be easily escaped.
It has consequences for all those who are around King.
The toxicity of having their organisation chaired by a man who the City of London has deemed unfit and improper is a scandal that taints them all.
He has released an official statement denying that this has any impact on his ability to act as a director and chairman of the Ibrox Newco; only a man completely out of touch with reality and consumed completely in love of self could say that and believe it.
This is the harshest sanction the City of London can apply to an individual … it is the Mark of Cain.
Sevco will be damaged by this. They will continue to be damaged by reputation as long as Dave King sits at the apex of the club. He has been found to be a deceitful man who, in the words of the Takeover Panel verdict, “will only comply with the Code when forced to.”
This also has widespread implications for the Ashley case; the man who they are going up against is now on the City of London blacklist … that cannot be good. The Sports Direct supremo must be dancing around whatever room he’s in at the moment.
And of course this stunning development asks harsh questions of the SFA.
They still hold King to be a Fit and Proper Person … that surely now cannot be sustained when the City of London’s regulatory body has found him to be the complete opposite.
Will Scottish football let his shame and disgrace become one for the wider game?
Will the media maintain its silence on this obvious charade?
King is a proven liar and a crook.
His dealings in South Africa could have sent him to prison.
Only when prison was threatened in this case did he finally agree to meet his obligations under the law.
This man shouldn’t be near a position of authority at a Scottish club.
That should be the next thing on their to-do list.
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