After my last piece which
certainly set the cat among the pigeons and highlighted the divisions in the
fanbase, it has come as something of a relief to witness a tentative level of
optimism at the latest events down Govan way.
certainly set the cat among the pigeons and highlighted the divisions in the
fanbase, it has come as something of a relief to witness a tentative level of
optimism at the latest events down Govan way.
With feverish disagreement among
fans about ‘the way forward’ and agendas, egos, arguments dominating discussion
(or is that getting in the way of), the over-arching problem has been, up till
now, a constant inability to concur on a unified strategy to take the club out
of this murky dark mess.
fans about ‘the way forward’ and agendas, egos, arguments dominating discussion
(or is that getting in the way of), the over-arching problem has been, up till
now, a constant inability to concur on a unified strategy to take the club out
of this murky dark mess.
Enter Dave King.
We have seen his name associated
with the club for years, after his previous spell on the Murray payroll where he famously invested
(and lost) £20M in the club, and he is well-known in Ibrox circles. His
association since then has been press-based, with misgivings about every regime
Rangers have had without ever making the step up to get involved again. He
backed The Blue Knights consortium, but as time has proven, that group are full
of hot air and empty promises.
with the club for years, after his previous spell on the Murray payroll where he famously invested
(and lost) £20M in the club, and he is well-known in Ibrox circles. His
association since then has been press-based, with misgivings about every regime
Rangers have had without ever making the step up to get involved again. He
backed The Blue Knights consortium, but as time has proven, that group are full
of hot air and empty promises.
However, news broke two days ago
that CEO Mather and Finance Director Stockbridge had flown to South Africa to
have a meeting with the former director to discuss his plans and intentions.
Subsequent news has emerged that he will imminently be appointed Rangers chairman,
with that position currently vacant. Whether he would be executive or
non-executive is unknown, but it would be puzzling if it was the latter. A
businessman with his influence, power and money would surely have to receive
executive powers.
that CEO Mather and Finance Director Stockbridge had flown to South Africa to
have a meeting with the former director to discuss his plans and intentions.
Subsequent news has emerged that he will imminently be appointed Rangers chairman,
with that position currently vacant. Whether he would be executive or
non-executive is unknown, but it would be puzzling if it was the latter. A
businessman with his influence, power and money would surely have to receive
executive powers.
Herein however is the nub; Dave
King has to invest. Millions. With outgoing costs exceeding revenue by quite a
distance, the Ibrox cashflow has to stop bleeding otherwise this club is headed
for another administration.
King has to invest. Millions. With outgoing costs exceeding revenue by quite a
distance, the Ibrox cashflow has to stop bleeding otherwise this club is headed
for another administration.
Dave King’s personal fortune is
estimated at £300M or so. This is open to debate of course in light of SARS
tax-case against him, which has now been settled, but the man has a lot of
dough regardless, be it in assets or disposable cash.
estimated at £300M or so. This is open to debate of course in light of SARS
tax-case against him, which has now been settled, but the man has a lot of
dough regardless, be it in assets or disposable cash.
And that cash is desperately
needed by Rangers. To justify King’s appointment on the board in such an
esteemed role, he has to invest many millions to help stem the financial
bleeding and keep Rangers stable till a return to the SPL where income will
soar again.
needed by Rangers. To justify King’s appointment on the board in such an
esteemed role, he has to invest many millions to help stem the financial
bleeding and keep Rangers stable till a return to the SPL where income will
soar again.
A personal guess would be, given
it will be around 2 years before Ibrox hosts the top flight again, and the club
is losing around a million a month, King needs to invest another £25M minimum over
that time.
it will be around 2 years before Ibrox hosts the top flight again, and the club
is losing around a million a month, King needs to invest another £25M minimum over
that time.
Dave King has portrayed himself
as the man who would be Rangers’ king. If these stories are true and he is to
become chairman, it is arguably the first step to his outright ownership in due
course. Or, at the least, majority shareholding.
as the man who would be Rangers’ king. If these stories are true and he is to
become chairman, it is arguably the first step to his outright ownership in due
course. Or, at the least, majority shareholding.
To get there though, he has to
show his hand, and put up the cash. Rangers do not need another unnecessary
wage.
show his hand, and put up the cash. Rangers do not need another unnecessary
wage.
If Dave King is to return to
Ibrox, he has to prove his worth.
Ibrox, he has to prove his worth.
There is a mild surge of optimism
over his potential appointment, and nothing would unite this fractured fanbase
more than an end to disagreement about club direction via King investing big
cash to stabilise the ship.
over his potential appointment, and nothing would unite this fractured fanbase
more than an end to disagreement about club direction via King investing big
cash to stabilise the ship.
Enough arguments about Mather,
Green, Smith and Stockbridge – if King comes in and invests the cash Rangers
need him to, the club can finally start to heal.
Green, Smith and Stockbridge – if King comes in and invests the cash Rangers
need him to, the club can finally start to heal.
And then we can talk about
football again.
football again.
Our club should be able to support its self with being banked rolled, to many overpaid players with no sale on value and our money is going down the drain. Our team is too good not to be promoted to the premier league and we should be buying players for the job at hand , not flashing cash at the out of contract players from the top league, King should come in and steady the ship not keep it afloat, save the money for when we need it. WRTP
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