Three hard facts about Dave King’s press briefing…


Rangers chairman Dave King has confirmed today that he hopes to raise £6M by way of a new share issue.

Initial reaction from some fans has been disappointment, at the lack of apparent outside investment in concert with this sum.

But supporters keen to castigate based on this statement must remember three critical aspects:

1: We still have second place to secure. There is £2.5M up for grabs by way of finishing runners up. That added to the £6M suddenly makes it £8.5M.

2: Europa League qualifiers beckon based on that second (or at worst third) placed finish. That is a further roughly £250,000 per round, for three rounds. Assuming Rangers make the group stage that’s shy of a further million plus the £2.5M default credit for making it there. Suddenly it’s now £3.5M before the transfer window even closes.

3: This does not include player sales. Are some fans so naïve they actually expect the board to fork out multimillions or for new investment to buy us a pile of new players when we ALREADY have a tonne of dross on our books? How big do you want the squad to be?!

We spoke earlier on the site about the need to drastically thin the herd – but doing so will bring in millions. Alfredo Morelos off the bat will net around £5M, ditto all the other assets that Stevie Ger doesn’t want to retain. We are talking circa £20M for a dozen plus players we need to sell.

How bizarre and poor management would it be to sign six new players without bothering to cut away the chafe?

If we then add up the SPL cash (£2.5M, the share issue (£6M), the player sales (£15-20M), and the potential Europa League plunder (£3.5M) Rangers, over the course of the whole summer, could have around £30M to invest in new players.

It’s ifs and buts, yes, but how on earth can we just invest in new players without getting returns (and player vacancies) on our existing ones?

Some fans seem to want us to have a 40-player squad and a wage bill the height of Everest.

Let’s be a bit more realistic.


  1. you actually believe we will get £20 M for our players including Morelos ? Stay off the glue. We have utter shite in our team and nobody will buy them, Possibly Tav is worth a few M but the rest…… Bids start at 28 pence……..

    • Exactly. Our current squad isn't worth diddly squat.
      This is typical King, asking fans to fork out yet again as he has no dough of his own.

    • Bluebear,
      Morelos £5M, Tav £4M, Windass £3M, Herrera, Halliday, Holt, Cardoso £0.5 each. Then you have the small fry like MO'H who could be worth £1-2 between them. That is not unreasonable and totals £14+ Million. We could get less for some and more for some.

      I think we have to be realistic as well as optimistic. If you honestly think Windass is only worth 28p for the 3rd top goalscorer in the league, it is not IN that has been on the glue 🙂
      What we think someone is worth and what someone else will pay are not the same thing

  2. fucking big lols 15 to 20 million for player sales the full team ist worth 12m and what happened to the CHINESE /MIDDLE EAST investors keep dreaming !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  3. There is no way SG has come to us based on this. If King said don't worry we have £30 million to spend then every team would treble their transfer asking fee.

  4. Im sorry but that really is clutching at straws now, deary me😳 firstly we are more in danger of finishing 4th the way we are playing, secondly 20million from player sales! Where the hell is that coming from, Windass, Dorrans, Herrera, Alves etc don’t make me laugh and with Morelos we will be lucky to get our money back. I desperately want the Gerrard thing to work and thought there’s no way he would take this job without proper funding, I was clearly wrong. Just hope he turns out to be shrewd in the free transfers and loan signings, something most before have failed at, so new manager but without proper funding I fear more of the same dross as we have had over the last 5 years or so

    • You think we will be lucky to get £1 million for a 21yr old who is the second highest goalscorer in Scotland?
      Who is clutching at straws now 🙂

  5. I've been one of this sites biggest critics for its negativity but kudos for this article.
    You are spot on.
    Does any other fan in the SPL know exactly what their club budget is? but the "Lawell" puppets are insistent on transparency from our club and are demanding to know our exact budget!!!!
    What kind of business lets its competitors know their hand?
    Well done I.N for this article.
    Well done Mr King for saving my club and conitinually funding.
    Well done the board for our biggest and most prolific signing in many a long year.
    Well done Mr Gerrard for agreeing to be the custodian of our great institution.
    As the new gaffer stated at his awesome press conference when asked about finances "it's not the place to discuss what was said in PRIVATE!!!"
    He will be supported financially and THEY can't handle it because they've no idea by how much and from where.

    • 100% right! Like you, I am not in the least bit disheartened by King 's statement. What in the hell were the rest of you expecting? Between the share issue, considerable income from our new commercial deal, where shirt purchases will go straight the into our coffers, increased season ticket sales and EVEN getting £5-10M for player sales, we will have enough to improve the squad to challenge the East end mob. For God's sake have confidence and a sense of reality. A SG squad, yes with a number of good quality loan players, CAN and WILL challenge Celtic!!!

  6. Sorry IN but you must have been out in the sun too long without a hat on:

    1. We are unlikely to get 2nd and possibly not even 3rd
    2. No way would that team get through 3 rounds of Europa League qualifiers
    3. If we raise £20M from those players I will personally come round and dance naked round your garden. We will get maximum £5M for the lot (no-one is going to pay £5M for Morelos are you mad?)

    So say £2M SPL money, share issue (assuming it goes) £6M, player sales £5M, Europa League say £0.5M. Total £13.5M. We had better hope Stevie has good contacts because we are going to need a lot of loans.

    The worse part is that if we can't get some of the dross off the books we will be paying them to sit on their backsides. Pena – who is going to buy him? Oddbins might try to squeeze something out of him. Alves? etc. etc.

    Sorry to sound so negative but it is realism. King needs to pull something out of the hat better than a £6M share issue. I cannot believe Stevie G has taken the job on the basis of the wishful calculations you have outlined. If he has he's in for a shock. Let's hope Dave is just playing his cards close to his chest.

  7. You always have to listen carefully as to what Dave King says but it is what he doesnt say that is probably more interesting. He says “There is nothing external other than existing shareholders and investors.” OK so that is fair enough, but you have to consider the 'Gerrard effect' and the fact that it may well attract the attention of some external investors. Dave King is probably stating a true fact that there isnt any external investment 'for now' but just watch this space.

  8. Is read between the line that £6mullion is above what was expected to be spent by the regular investors. Anyone moaning about it should leave ibrox and not come back. We’re fortunite that we even have a club still, it would have went down with the previous board… and £6million is the rest of the spls transfer fees combined for about 5 years. So we should be strolling 2nd place with that

    • Stuart I am usually as optimistic as anyone but I pay over a grand for my 2 season tickets and if I want to moan I'll moan. If DK wants to give me a free season ticket then I'll shut up.
      As for strolling 2nd place? that's no good – I WANT 1st PLACE!!!!

  9. King is using everyone else's money to run Rangers , anyone on this site could have done the same , I'm past caring anymore , what's the point ? Nothing will change with this board , I've accepted this now .

  10. OMG what a lot our supporters are.
    OK I expected a lot more clarity today myself.
    The 2 seats are still empty. When has King ever told us anything.
    25m will be handed to Stevie & Allen no matter what happens more if required.

  11. IN once again echoing my thoughts …I wish Real Rangers fans would get real…Steven will sort put who he needs an the are loads of ways this can be done..Purchase Frees ,Salary only, and Loans AND of course sales money for those we can offload and Season Ticket Money is critical .He would not have taken this job had he not been given assurance money would be available..I can hear that Rotten Mob giggling…but they should be more worried cause we got close for a while with the pish we have…add Steven Gerrard and 2/3 quality players ….BRING IT ON

  12. Fking actually heard daydream believer playing whilst reading your piece there ,
    To much fantasy football in your head m8
    We are on a par with hibs and Aberdeen you telling me any of there 13 players worth 25 million
    I honestly believe if you are talking about selling our 13 best sellable players you would get 8 to 12 million tops ,that's if you can sell them ?
    So based on your logic I'd say we are fked

  13. I would think if SG kicks players ass then he may get more out of them but we could be second the next few seasons,but if you tell players you do not want them then they will go as frees or a few hundred thousand we must let SG do what he thinks,did DK tell SG you must sell players to get money and he put in 6m,i thought there must have been a better deal for SG to take the job but if he is happy then we must move on now.

  14. Glad you're not my accountant! There will be money,but very little from the sale of players. King and co will fund us again as needed for players. Once again to the ones that say sack the board, he'll back the team, not with a season ticket or a pie at a home game…but serious money when appropriate and needed.

  15. You forgot 10 mill from season ticket sales and 10 mill from hummel…..No Surrender….

    • And all the players are playing for free of course! The wage bill alone is probably about 80% of the season ticket money and where did it say we were getting £10M from Hummel. I seriously doubt it.

  16. Will we even get a license to play in Europe?
    Can we even have a share issue while Dave king ignores the take over panel?
    To get some of the players off our books we will have to pay them to leave because no-one in there right mind would match their wage

  17. Disappointing from King. You may be right that he is playing down the level of squad investment in order not to alert other clubs to doubling their asking price when Rangers come calling. Hard to imagine that Gerrard would take the job with 6 million to spend on new players if he has any idea of the paucity of talent in the current squad.
    Two things concern me however –
    No explanation as to why two directors have walked at this moment – especially Murray who is Rangers through and through and would want to be involved at this time with Gerrard coming on board.
    Second – surely now is the moment when we can go out and attract investment on the back of the Stevie G appointment. If we finish a poor second or third next season the moment will have been lost.
    King doesn’t give the impression that he is seeking that investment as he wants to hold all the cards and remain top dog but lacks the finance that we need.
    Also way over the top re your assessment of the squad value IN. You could sell every last one of them and you won’t get near 20 million. From those with a sell on value 10 million tops.

  18. After all the build up about a major anouncement from DK over the weekend, I'm extremely underwhelmed that he 'hopes' to raise £6m(and couldn't even commit to that with any authority). Like many on here I got excited about an influx of proper money into the club, but no, all we got in the end was more smoke and bluster from D**K. It's pathetic actually – ceptic coined in more than this from VanDyke's sell-on clause alone. I've no doubt they're pissing themselves laughing over there, and I don't blame them. 10iar is a certainty now, Gerard or not, if this is all we can muster to challenge them.

    As for Ibrox Noise's ridiculously optimistic take on these developments – a lot of Ifs and maybe's but no real substance(a bit like DK).

    IF we finish the season in second…
    IF we can qualify for Europe proper…
    IF we can shift the big steamy pile of dogshite that is our first team squad.

    We simply can't count on any of this. I wouldn't back this team to finish second or negotiate the qualifiers with someone else's bad money. The only really bankable assets that we have are Tav, Moreles and Wes – if we can get a combined £5-6m for these three, we'll be doing well. The rest of the pish we are gonna have to pay off, or let them leave for free, because no-one's gonna pay good money for rubbish. Especially not when they know the club is desperate for money!

  19. I think fans have a right to feel underwhelemed. But this is extreme fantasy you're using to excuse the paltry sum we will raise from a share issue.. 6 million hardly sets us up. Can imagine another 5 6 million pound LOANS along with this share issue money being how we fund Gerrard.

    I have to wonder.. 20 million pounds for players sales? Where do we honestly get 20 million from those players?

    Bearing in mind there is a funding gap that the board continually have to fill, that 2.5 SPFL money goes straight to keeping us ALIVE not active in a transfer window with it we make loss after loss. And we are in dreamland if we think we can get anywhere near the group stages the standard of team is frightening and we are no where near good enough as is.

    The worry is we bought 'assets' last season like Pena for 2.4 Herrera for 1.3 Cardoso for 1.3 Dorrans for 1.3 and we probably would be lucky to get half back… genuinely struggle to be optimistic about anyone paying 20 million for THOSE players. Be lucky to get a couple of million back for Ohalloran, Dodoo, Halliday, Holt, Hodson, Forrester etc when we sold Waghorn for 200k and Kiernan for 100k that's their level.

    The only assets we have who could command 7 figures that we would even consider selling are Morelos, Tavernier, Foderingham. But we'd be lucky to get 10 for the 3…

    Instead of spending the 1.7 million Brighton now want for Murphy, for one want to see Middleton promoted to the 1st team next year. Arfield is a smashing signing and could walk in to that 1st team and if we sign Mcgregor and sell Foderingham we might raise another 1.5 to 2 million for him so hopefully Mark Allen can play smart with the small amount of money we have and not blow 10 million on transfers like our board did last year on Caixinha duds.

    • Coco
      Uou ask where £20 M would come from, then start to show it. Pena, Herrera, Cardoso, Dorrans you reckon maybe half back. fair point. Thats £3.2M. Couple for MOH etc. Ok, thats us up to 5. Morelos, Tav and Fod – you reckon lucky to get £10M. tbh I think £12 would be fairer. Then Windass, 3rd top scorer in SPL. At least £3M and there's your £20M. A strecth? Maybe, but its hardly ridiculous.
      I agree on Murphy. £1M tops. Or we go with Middleton and young LFC boy @ Hull, with Candeias and Atakayi on other side.
      Arfield, Docherty, Jack, McCrorie, Burt and Rossiter(Praying) gives us cover in the middle.
      We need 2 strong, commanding CBs and a couple of young ones to develop.
      I would love McBurnie and Hardie with one or two others up front. I read Goeorge Byers of Swansea is a decent player, out of contract and Rangers daft. Don't know if its true, but if it is, would he not want to come play for SG?

      I am no expert. Mark Allen is. I have faith that he can fill the gaps, especially in CB, with the money we have available. We will be stronger, much stronger next year.
      Have faith

    • You are off your head if you think we will get £3.2m for those four. Pena is an alky so zero. Herrera is a pub player so zero. Cardoso maybe £0.5k. Dorrans is past it so zero. Total = £0.5m. No way will we get £2M for the rest of the squad. £1m max. Morelos £1M. Tav £1M. Fod £0.5M. Windass £1M. Total squad value = £5M. Tough but there you go. We may have even to pay Pena's salary up. What's that? £2M out? Unless DK is playing the best poker hand ever we are in serious trouble and 10 in a row is a certainty.

  20. All fools day has come and gone right? What a farce. Brenda and the filth will be pishing with laughter at us at this news. I really can't see Stevie G agreeing a four year deal with an offer of six million to improve the team. King has always been vague so whats really going on? I hope to f. that we get second but realistically can anybody see our players lifting their game in the last two off the season? especially while many will think their time is done. Here we go again.

    • SG has he not already has signed has he not?so that tells me there is money in the pot six million is just going be more to add to the SG players funds,but i do agree we should all be told the truth of what comes our way good or bad that way we all can get behind them and work as one,just be open and no lies just tell us as it is,SG will be alright and and this dream will get better i am sure it will.

  21. Let's be honest. We are not getting rid of 25 players. I foresee we will keep one for each position except possible CB. So we will be looking for 1 for each position. If better then what we have, they start. If not, they are backup
    So, bring in 11 players. 4 from the youth, 3 on loan from Liverpool or elsewhere only leaves us looking to buy 4. 1 or hopefully 2 "Fuck off, My ball" CBs. All the David Bates haters will suddenly understand his value. Not a, Alan Hansen ball player, but a Fuck off, My ball" CB. I believe we have a young guy on trial from Bayern Munich. Fingers crossed. Middleton, Atakayi, Burt all ready to step up. Management will hopefully know of others.
    Bring in couple from Liverpool, fingers crossed that Rossiter makes it and we never lose all 3 CDMs at the same time again and the team is looking a lot stronger.
    It has been a really horrible few weeks, no denying. But we have scored a lot of goals over a shitty season. Imagine if we had McCrorie, Jack or Rossiter protecting 2 decent CBs. We would still lose the odd goal, but there would have been a lot fewer. Which means a lot more points.
    We march on, with Heart in Hand

    • What 4 from the youth? Name them. Name me 4 youth players who will whip the likes of Broon, Armstrong, Forrest, Rogic, Mcgregor – just to name the scum's midfield. Atakayi – who?? He's had about 45 minutes for the first team. Burt – been tried not good enough. Middleton – a kid from Norwich who's never kicked a first team ball. Rossiter – ffs. Do you reckon there is anyone in the ladies team worth bringing through? Tell you what mate if I'm ever shipwrecked on a desert island I want you with me. I'd be dead within the week but I'd die happy, certain there was a ship on the horizon.

    • Scotswaehae,no disrespect but are you insane .What 3 from Liverpool ,name one and I'd be happy.It would cost an absolute fortune

    • Gerswillie,

      I am not Gerrard and do not have his knowledge of the Liverpool youth, but I would happily take Harry Wilson who has been on loan at Hull. 7 goals and 3 assists in 995 minutes, or 11 games.

      That's one. You will note I said "on loan". Not buy. There are others, but I am not an expert and you only asked for one 🙂
      We can offer a manager who works to the Liverpool ethos so they would be happy with training etc and a higher level of football, if we secure Europe, than Hull.

      Fulham, I didn't say we should put our youth team midfield up against Celtic's 1st team midfield. Nobody would say that. I am saying that in a squad of 23-25 players, we can put 3-4 youth players in who will develop over the season, start with 10-15 minutes at the end of the game and hopefully progress.
      I think it is a little soon to dismiss Burt as not good enough. Or Middleton as young and new, or Atakayi as only having 45 minutes experience. That's the point. They need tried and tested.
      Finally, no offence but if I am off to a desert Island, I will be taking a supermodel, not you 🙂

  22. I would like to think there is a master plan but given the last few years of absolute nonsense from the board I am not to sure.

  23. Prescription STAGE 1: Redeem the suspended players and kick some ass to secure second place.

    • It’s beyond embarrassing Robbie mate! Some of the shit I’ve read with Bears on a meltdown 😌🙈

  24. To much doom/gloom people, I truly believe there will be more investment that DK hasn't spoke about and I'm feeling more optimistic/confident than I have felt for a long time as I believe Stevie G/co will bring back the Glory days that we all crave so much and I don't give a monkeys what Brenda/Unwashed think as its all about The Famous and Most Succeeded Club In The World.. watp Helicopter 2005

    • wee brenda is going to get a good shafting this year ,we all know seltic are rotten look at them in europe .they aint nothing special .everyone shouting about money well seltic players cost pennies or nothing ,gordon, teirney, mgregor, forrest ,dembelle ,grithis, plus there loanees there team cost about 11 million there shite ,our so called big earners ,alves ,pena, herrera, cardosso .e,t,c are shite its got fuck all to do with money between the 2 teams ,our managers have been dire, stevie ger will sort it for us guy has been around great players he will bring in some great players to ibrox the smellies know they got a fight on there hands now , r,t.i.d

    • I predict Brenda will sacked end of next season shite in europe as usual and will be fucked in the old firm👍watp🇬🇧

  25. I like your positivity Ibrox noise and he has been promised 10 – 12m to spend …not including getting rid of the shite that some people have mentioned and freeing up more wages hopefully.

    Exciting times to be a bear for a change 😁 watp

  26. Something missing from your article, while your income figures might be accurate, you don't mention 1/ what state is our balance sheet, 2/ what will it cost to provide the team Stevie G is about to start building and 3/ directors come a go, but usually with a reason what? Plenty unanswered questions J

  27. 6 million is not the budget, its cash we would not otherwise have to spend on players. Hummel deal is worth 10 million over three seasons. King and the other directors have been kicking in money for players over the past two seasons, why would they stop doing that now when we have a genuine global star at the helm? F*cking negativity is astounding

  28. Could be SG is going put up his own money for players he must have a billion or more he should just take over the club,lets see what happens and get this show on the road,but SG must have been told there will be funds there when he names a player he wants and they will buy that player it must be he names them they buy them.

  29. Keep 
    John, Wallace, Jack, Dorrans, Halliday, Candeias, Alnwick, Cummings, Murphy, Kelly, Barjonas, Beerman, 
    McCrorie Brother, Atakayi, Docherty, Thompson, Hardie, Wilson, Burt, Dallas

    Undecided/Maybe Stay:Maybe Go
    Tavernier – £3.5-£4m
    Cardoso – £500k
    Windass – £3.5m – £4m
    Herrera – £750k
    Goss – End of Loan
    O'Halloran – £500k

    Get Rid
    Foderingham – £1.5m
    Dalcio – End of Loan
    Miller – Released
    Dodoo – Free
    Hodson – £500k
    Rossiter – £750k
    Morelos – £5-7m
    Alves – Free
    Holt – £500k
    Bates – Already Signed(HSV)
    Forrrester – £750k
    Pena – £1.5-£2m

    • Keep Halliday ? I take it you have no idea who he is or never watched a Rangers game ? The guy is fucking garbage, utter fucking garbage, he will be first out the door June 1st then there is O'Halloran, Cardoso, Herrera, more absolute fucking duds, they will all get chased

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