Seems like the plate of succulent lamb at Ibrox wasn't full enough for some?

Alternative View

June 14th 2011

Wasn't sure what to have a chuckle at first, the fact that the Daily Record buried this story away down at the bottom of their football website, or the fact that their Rangers supporting journo, Keith Jackson, found that he he had the shrunken prunes to dare write it.

My goodness a story that many of us have been banging on about for ages, which is, Craig Whyte is on the borrow borrow Leeds United style to fund his new south side purchase! But crucially, it's now being written & published in the Scottish press. How long could they have held out for? Well, this long it seems
 
Apparently "Analysts say the document - called an MG50 - could signal Whyte's intent to mortgage off the next four years' worth of season-ticket money as a security against some form of loan.
It was this kind of high-risk scheme which was blamed for the crisis that saw Leeds plummet into the third tier of English football and almost forced them out of business."

Therefore what all this means is that with the reported £18m that Whyte got his hands on to pay some cash back to the bank, if it all goes belly up then he is first in line, yes and before the taxman, to get as much back as possible because Whyte will be the preferred creditor.

This bundle of money we are told McCoist will get to buy players will come from the next four seasons of season ticket money that will be mortgaged off as security to borrow the cash. Risky. too right it is!

Jackson & McCoist are very close and Jackson would not have run this story without a nod from his his buddy, who it would seem is getting very frustrated as to where and when any money will appear to fund signings. As usual we await with more than a passing interest!