This started with the disposal of Danskin’s shares which Twigg bought in 2002 probably at a discount. Then increased from 22,000 to 33,000 again at a discount in 2003 when EFFC increased its shares to 160,000. Since then through various nominees Rankine built up his stake to a controlling interest of over 50% of the club.
Last year it seemed that he was willing to sell and as I understood it Lee and co had put in a non-refundable deposit to buy. Now a year later it appears they are not for sale, at least at terms which are approved by both sides.
Bruce Black has implied that the original take up of shares was an altruistic action to help the club at a time of trouble. A while ago Collumbine said it was a long term investment. Which is true? Who in their right mind would invest in a lowly club expecting a return from football achievements.
Since looking at the goings on in the Broon era I come to the conclusion that the idea was to gain by the sale of the ground which is now more likely since the demolition of the power station and the economy picking up. There may even be something in the pipeline already which stalled the takeover. Who knows?
Now the Livingston/Rankine news is another item in the pot. Why the SFA has stated that Rankine has an interest in East Fife when 10 years ago they said not? Our club is caught up in all this and may have a shaky future so we need an out which I thought we had last year with Lee’s arrival.