Financial expert ‘surprised’ if NOMAD deadline fails
Football financial expert David
Bick, chairman of Square 1 Consulting, would be ‘surprised’ if Rangers do not
get a Nominated Advisor by the deadline of this Saturday.
He said of the interim results:
“The balance sheet is only held up by the
property that they own (Murray Park, Ibrox etc) and the loans that have been
put in by Mike Ashley and more recently money that has been put in by the
newest shareholders (King, Letham, Taylor & Park).”
Nothing fans did not strictly
already know, and he described Rangers’ losses as ‘sad’ and pointed out the
staggering chasm between that and English clubs.
He went on:
“I think those shareholders would have known
the deal with Newcastle,
with Mike Ashley. I don’t think there can be any issue about this, the bigger
deal for Rangers is how to recover from here.”
Lastly he states:
“I would have thought that now that the new
shareholders have control of the club I’d be surprised if they didn’t get that
in place (a NOMAD) in time.”
The Club confirmed today in their
interim report that negotiations continue regarding the installation of one.