Dave King makes major Rangers announcement but should be treated with caution

Dave King makes major Rangers announcement but should be treated with caution
GLASGOW, SCOTLAND - OCTOBER 22: Rangers majority share holder Dave King is seen during the Betfred League Cup Semi Final between Rangers and Motherwell at Hampden Park on October 22, 2017 in Glasgow, Scotland. (Photo by Ian MacNicol/Getty Images)

Former Rangers chairman Dave King has confirmed he will not be voting for current incumbent Douglas Park’s reappointment at next month’s AGM.

In a piece of news that will surprise no one, the vocal former leader of the club, who remains extremely popular to this day, King will not endorse Park’s re-election onto the board, and in truth, he probably won’t be the only one.

Ibrox Noise will also not be voting for Park either, or indeed pretty much any of the directors currently up for re-election but while fan and fan group votes matter, the greatest number are from major shareholders including King and Park themselves and it could be a pretty close thing to see who actually has most influence.

Now, let’s not forget King is owed big money by the club, and Club1872 (also a shareholder) have become his biggest supporters, so King’s primary incentive is to get what he’s owed back – he is not seeking election onto Rangers’ board, and has no interest in running the club again, while Club1872 took his side entirely and will support everything he does.

So taking his views seriously should be cautiously approached because his main motivation is money.

And from what we understand from our own sources, including a former board member, King didn’t actually lose £20M from his original pre-2012 tenure as director – he did invest/lend £20M, but he got £18M of it back from our information, so the idea he lost £20M is likely a myth.

But he is definitely owed cash this time, with that being his driving factor. Is he wrong to want his money back? No, that’s fair – but it must accounted for when we listen to what he says – he’s really not speaking in the true interests of the club, but his wallet.

Cash that is his, but without bigging ourselves up, Ibrox Noise has also invested cash into the club too and we have no interest in seeking a return on it, we just want what’s best for the football club. And true fans would be less worried about their money if investing into a shoogly thing like a football club, and more interested in the best for the organisation and its future.

King wants his money back, and once he has it, he’ll probably never be heard from again.

As for this vote, we definitely need change, but given half of the shareholders are themselves the directors, we doubt there will be any of that this year.

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  1. It’s laughable that most fans are more concerned about the next manager and any faraway chance we might win this league. What they all should be concerned about is a downward spiralling direction our morals, truths and standing as Rangers that are being trashed by continual poor decision making and financial waste in fines court cases and settlements. We should have been rising like a Blue Phoenix from Europa etc. Instead we have more under table settlements for Fat Twat Sports Direct Ashley, fines for price fixing plus legal costs and now another potential long running multi million legal settlement for hiding the truth . Its a disgrace , most of the board should resign for those reasons alone it’s a stain again on our great club. We take 3 steps forward and then shoot ourselves in the foot and take 6 steps back. It’s so hurtful and so dissapionting.

  2. From what I’ve read else where and from articles from king himself he does want the chair back and is now relocating .
    I’ve also read that he was paid back his 0%loans when he left and that patt of his issue with current directors is they are recouping the cash from their loans while still in office which was contrary to their agreement that the loans would be paid via diluted shares from share issues .

  3. Sorry IN, your assessment is miles off the pace. Dave King probably does want his cash back but he put that money in when the club was in dire straits knowing full well that there was a very big chance that he would lose the lot. He has never acted in anything other than Rangers’ best interests and he deserves better from the support.

    • He also voted against/blocked a share issue knowing it would dilute his own. Are you sure he’s only focused on the club’s best interestes?

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