Sevco Faces A Hard New Dawn Of Austerity As King Prepares His Departure.

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Listen, there will be a whole lot of nonsense talked about the Sevco AGM in the next couple of days, a lot of promises of big money and of “investors” coming in … ignore the lot of it.

The truth is that something major has happened over there.

The headline is that King is to step down.

The press is already being briefed that this is an act of self-sacrifice.

Do not believe it for one second.

King is going because he has to.

From the moment the City of London Takeover Panel cold-shouldered him this has been inevitable.

The question which the media will not ask, but should be, is did he jump or was he pushed?

Now this site and others have been telling you for a while that King had divided the Ibrox board. Many of those who’ve been funding this show up until now wanted him gone. Because he is reckless and stupid and dangerous to them.

His departure means a more professional operation over there. It also means a sane one. Get ready for fireworks when Sevco fans realise the totality of what that means. In one sense it’s good news for them … in another sense, not so much.

Sevco’s future is austerity. Everything I just read makes that plain.

The statement itself spells it out. January’s share issue will be about two things; paying off King and other directors and making up the cash shortfall for the rest of this campaign. It is a final, desperate, throw of the dice to patch up the damage he’s done before he swans off into the sunset.

This is no triumphant exit, as the press will have you believe.

This is either a full-scale retreat under fire or a charlatan’s departure with his pockets filled with the supporter’s cash.

King will have been at Ibrox roughly five years.

It took them two turns to get out of the Championship.

This will be their fourth season in the SPL.

In that time Celtic has won three trebles in a row.

He will probably depart with his final managerial choice floundering, Lennon sitting on a decent league lead and Celtic already having secured the League Cup. And there are people who will attempt to call his tenure a success.

The only way that’s true is if he were a Celtic board plant, part of the Grand Conspiracy of the Unseen Fenian Hand.

A combination of internal and external pressure has most likely forced King’s hand.

I said in an article last week that this little farce with the shares was almost at an end, this debt-to-equity switcheroo stuff was coming to a close. Today formalises it. The future over there is spending what they earn; the adults have taken back control of the room.

So a better run club, yes, but unfortunately for them that means one which will have to make cuts and will be focussed on selling more than buying. In the absence of the SFA wanting to do this job, the sanity was going to have to be imposed from within and King’s fellow directors long since delivered the message that they were no longer going to pick up the tab.

The party is over. A self-sustaining Ibrox operation won’t touch us in our lifetimes.

Their fans have been fed supremacist nonsense for way too long to enjoy the taste of sanity, but sanity is finally coming.

It’s going to be a hard winter and an even harder summer.

Our second quiz is up folks … how much do you know about the events of 2011-12 and the liquidation of Rangers? In light of this news there has never been a better time take the test below … 

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The Ibrox crisis started to get real when the bank who had been keeping Rangers afloat started to sweat at the height of the financial crisis. Who were Rangers’ and Murray’s bankers before being taken over?

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