Grim news out of Ibrox with the sticking plaster solution to Rangers’ cash flow problems.
My understanding is that the monies raised – hopefully, it has to be said – from the rights issue will only take the club limping along till Christmas, when new funding will be desperately required.
It appears that the attempts by Charles Green to procure a different and vastly more lucrative funding option have either hit the buffers or been knocked back by the board.
The inside word I am hearing is that things are not good and that Admin 2 is a real possibility. This could be a fatal blow at worst or at least one that severely cripples the club for years to come.
Those who withheld their custom to teach the board a lesson may just have to learn one themselves pretty soon.
That lesson is how to learn to support another team.
Celtic fans need not crow over this latest development at Ibrox.
They are waking up to the realities at the Co-op Dome, where millions in CL and transfer riches appear to have been magicked away.
Those expecting the board to authorise a spending spree have had their hopes turn to dust so often and for so long that they are no longer susceptible to the stupefying propaganda which proclaims Celtic as richer than Croesus.
The fact is, Celtic are nowhere near as wealthy as the complicit media in Scotland has hoodwinked gullible hoops fans into believing.
These fans are seeing for themselves what I have been telling them for a long while. That is that the player pool at Parkhead is getting substantially weaker in quality season upon season.
And they are asking the question: If our club is banking all this money, where is it?
The irony is that many Celtic fans are still self-righteously lambasting Rangers fans for not asking this very question of the RFC board during the SDM years.
Of course, having Rangers and Celtic supporters embroiled in the ceaseless hostilities suits those who would prefer these fans engaged in tribal warfare rather than ask the probing questions they should be asking.
These questions should, in fact, be asked by every football fan in Scotland, not just by those who support the Old Firm.
The reality is that Scottish football is dying a long, slow, painful death.
Rather than engage in the eternal one upmanship and the “Youse are worse aff than us” mentality, Rangers and Celtic need to realise that they are no longer the big clubs they once were.
It might not be what people want to hear but I have no papers to sell or seats to fill so I can say it.
In financial terms and increasingly in football terms, Rangers and Celtic are minnows in British football, let alone European football.
And the outlook is bleak.
Fans are no longer conned. The need by clubs to paint a rosy picture is now just insulting to those who dig deep to support their team. The truth has to be faced.
Scottish football needs leadership, not control freakery and short-term fixes based on self-interest.
What chance of finding strong, visionary leaders in this wee narrow-minded backwater?
Awrabest with that.