Killie on the Brink?

Killie fans were left in a tizzy last night as the press corps were alerted to a conference today at Rugby Park which was to herald an important announcement regards the future of the club. Newspapers the country over are carrying different takes on the situation, but like us for the most part they can only surmise what is going down based on the few facts they do know.

From what we can gather it seems as if the club's main debtor, HBOS, were going to pull the rug from under our feet on Monday night but have been placated by club owner Jamie Moffat. The details of the 'last gasp rescue package' have been sketchy to say the least but we would imagine they will be revealed at the press conference later this morning.

It seems that part of the package is vice-chairman Michael Johnson taking over from his good friend Moffat with the latter relinquishing his shares and any interest his family had in the club to the Troon lawyer. Quite how that would placate the bank is a mystery to us...we are under the assumption that for Jamie Moffat to walk away he would at least have to make good his personal guarantees to the bank which are estimated to be around £1.5M. If Moffat has done so then the bank would have no other option than to allow him to walk away.

So where will that leave the club? If the Moffat family are no longer involved and Michael Johnson takes over as chairman then surely the writing is on the cards? The bank have only stood back and watched us get up to our eyeballs in debt because they assumed we had the Moffat millions to bail us out, should he now leave with no apparent 'white knight' on the horizon, how long will it be before they come calling again looking for their money back and what would someone like Michael Johnson, second-in-command at the moment, be able to do to turn the financial tide?

The answers to that seem to be staring us in the face. He could sell or lease out The Park Hotel. Sell star player Kris Boyd which could pay some wages over the summer...but these are only temporary solutions. We can only sell the hotel once and we cannot depend on selling on hand-reared talent if we are nipping the Youth Development Programme in the bud. (Whatever happened to the Youth Trust that the club set up?) The future looks bleak and we can only cross our fingers and hope that the papers have got it all wrong...it wouldn't be the first time they had but something tells that there is no good news on the horizon. We will try and keep you posted.