Sevco

Bankruptcy, Buffalo and Bullsh*t: the Sevco end game comes into focus

Forgive me for the profanity in the title but I can’t think of a more apt term, the guff we are being fed is the gruel of a dying club heaping delusion on top of disgrace.

King we are told is penniless, if he comes up with the money then surely that is grounds for perjury, if he doesn’t then Ra Peepul will be cold-shouldered and their chances of merchandising and sponsorship will be limited to non listed companies.

That is to say Puma, Umbro, Nike, New Balance or anyone else will not make their kits, 32 Red or any other company that doesn’t want to draw the ire of the takeover board will not sponsor them.

Even if they want to recycle last years kits as they did this year they will not be able to show any of the branding.

The Buffalo must be gutted that his £22 million deal and £60k per week wages have fallen through, maybe the bidding war which involved to Latin American clubs who had “joined the race” for the uncapped Colombian will begin again in the summer.

More likely is a few low ball offers from Championship clubs in the region of 2-3 million quid.

Maybe they will get £4 million and be able to pay off their Wonga loan with Close Brothers, but I doubt it.

Football clubs are vultures, they circle looking for weaknesses and then exploit them for savings, everyone knows the Newco is a company in distress, there will be no mega money for Them.

Sevco has created a tapestry of lies over the last few weeks in order to buy time, something it is running short of.

The Morelos pantomime gave the deluded hope, they spoke of holding out for £15 million in their forums much to the amusement of everyone else.

The appeal was expected to take 2 days to be heard and several weeks to be deliberated upon, instead, it took hours.

With 30 days to fund a prospectus which itself will cost hundreds of thousands of pounds, the penniless King must find £11 million to put into an account to underwrite the share offer.

Something his counsel has stated he doesn’t have, if he comes up with it again he has lied under oath, if he doesn’t the consequences will be catastrophic for a club approaching its 6th birthday.

Before the end of the month, we will know if they have managed it, if they haven’t then April fools day may well become Administration II Day.

If administrators are called in the vultures will swoop with any reasonable offer accepted for their playing staff, Morelos, Windass and Tavernier would be sold to English Championship teams.

Pedro’s Galacticos would then be paid off pennies in the pound for games they wouldn’t have to play and the 4 loan signings made by Murty would be returned to their parent clubs.

The administrators wouldn’t make the same mistakes as Duff and Phelps, Murray Park and Ibrox would be sold to cover debts and the people would become the tenants, paying rent to play and train at their own facilities.

This is all so fantastic that it can’t possibly be true, but those of us who have watched the entity since 2012 have become accustomed to events turning on a penny, let alone a dime.

Something that King has stated he doesn’t have.

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