For those who have studied this matter, the situation at Ibrox is pretty clear cut. That club is desperately in need of money. The directors claim that this season’s shortfall has been made up. They haven’t given the fans any details beyond that. The whole thing is murky at best. The directors are funding all this out of their own pockets.
How in God’s name did they ever get into such a ridiculous and dangerous position?
The answer is simple; they followed the lead of Dodgy Dave King, who doubtless promised them that he was in it for the long haul before he bolted.
Don’t let anyone in the pro-King camp fool you either; he left with us on the brink of ten in a row and he exited the club when he did because he did not want to be the guy at the helm when that happened.
There were other reasons for his departure, of course.
For one thing, the City of London was making it impossible for the club to get companies willing to deal with him.
When the global financial crisis hit, it virtually wiped out his ability to continue putting money into the club. He was owed a significant amount by that time and made it clear that he wanted it all back.
He has shares that he would dearly love to dispose of, but nobody has the cash to buy them.
It was King who led this board into the insane cycle in which they are now trapped. His assurances about how we would stay the course were as worthless as any he’s ever given.
The man a judge called a “glib and shameless liar” was the last person anyone over there should have trusted, and now that he’s out of the picture he feels a mixture of relief and pique; relief because the responsibility for keeping on the lights is no longer his, and pique because he has watched as Park and others have taken the plaudits for the title win he thinks was his own.
The truly surprising news from the Ibrox AGM was that King voted against Graeme Park’s election to the board.
When Celtic fans voted against the re-election of Ian Bankier that was small fry compared to the former chairman voting against the son of the current chairman.
That hasn’t had anywhere near the media scrutiny that it ought to get.
It’s been glossed over as if it was nothing, but that isn’t nothing, that’s a major development and serious stuff.
What exactly is King playing at, and what does the future hold for him? The board’s haste to get rid of him by paying off his loan as quickly as they could suggests that they see him as a problem.
His decision to vote against Park is a sure sign that he’s a problem who has no intention of going away. Is he going to hover in the background to see what happens in January?
Because if they sell players in that window – which they pretty much have to in spite of what Robertson and others might say – does King see that as an avenue to attack them in public, for devaluing all his work and trashing what he sees as his legacy? If he does then they have a real issue on their hands, and with this guy you just never know.
King still has friends in the Ibrox boardroom.
Not everyone was happy to see the back of him. He still has friends and allies within the support, and that in itself is a recipe for real trouble if he decides that he wants to stir the soup a little bit.
He has laid an elegant trap for the board he left behind.
He has locked them into a cycle of spending they cannot possibly sustain, by making them responsible both for the club’s debts and for continuing to fund the ambitions of the fans.
You wonder how they could ever have been so stupid, but that’s by the by now.
This is where things stand for all involved.
Since nobody outside of a very small group inside Ibrox know what he’s after you can’t predict with any certainty what it is that he will do. The next month or two will be interesting on that score.
Very interesting indeed.
December 2, 2021 at 3:54 pm
December 2, 2021 at 4:22 pm
Anthony Mcquade says:
December 2, 2021 at 4:29 pm
December 2, 2021 at 4:32 pm
TAM Milne says:
December 2, 2021 at 5:07 pm
I’m sure I heard an interview not long back were king stated he had been asked to allow loans secured against club assets last year but had refused .
Has all the new confetti issues been in part to dilute kings voting percentage
To for e through the secured loans on Ibrokes perchance
Having repaid king have the Scottish gov been repaid on the 3.5mill loan which reportedly should be paid on the repayment of any other
Who cares . Let ALL rot
A freedom of information (FOI) should clear up whether the Scottish Government loan has been repaid.
The board at ibrokes know the money is coming from stevie g for superman Kent
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