BEARGER

Another month on and this "legend" is still screwing the club.

Dave King: Rangers investment was dependent on fit and proper approval By Grant Russell 19 May 2015 21:35 BST Dave King says his investment in Rangers would have been in doubt if the Scottish FA had deemed him not to be a fit and proper person. The businessman has been cleared to take up his post as the club’s chairman, two months after shareholders voted him on to the board. King arrived in Glasgow on Tuesday evening after news of his clearance broke and told STV in an exclusive interview that putting money into the club would likely not have happened if the governing body turned him down. "One of the things I said at the previous meeting when I was here six to eight weeks ago was that investment, my ongoing investment, depended on me getting through fit and proper,” King told STV. "Now it's been cleared, I am now in a position to proceed. So I'd expect that to happen quite quickly [investing money]." Pressed to confirm whether his investment was dependent on fit and proper status being granted, King said: "Yes, yes. I always made it clear that if I had no long term future with the club, my investment was linked to that. "I said that when I was here last time that while I expected the fit and proper to happen and go through OK, if it didn't happen then we would have to take a different approach. "I wouldn't have walked away but the situation would have changed. I would have had to look at how we would do it. "Certainly I was very clear in the interviews I gave previously, my ongoing investment requires my ongoing involvement. "I didn't doubt that it would happen but it was made clear to all concerned that it was a consideration." That stance differs considerably what King said on the day he was voted in as a director at Ibrox in March. "If I'm not found fit and proper I will not sit on the board," he said at the time. "I'll still invest, I'll still support it. "I've got, I must have 40 companies back in South Africa I control and I don't sit on the board. "To me being on the board is not critical. I don't think it will be an issue. But if it turned out to be an issue, it wouldn't make any difference to Rangers going forward. "I would just operate and give input as a shareholder, as opposed to a non-executive chairman. "The issue is not about power. My position is no different from Paul [Murray] or John [Gilligan]'s. We are all trying to achieve the same thing. It's not really about power. "If for any reason a regulator came and said 'Dave, we believe you're not fit and proper', and I had the proper opportunity to make representations and they still concluded that, then I would accept that." Fit and proper process King came to power at Rangers via a shareholder vote at a general meeting on March 6 but has stayed in the background since then awaiting the Scottish FA's clearance. That was finally delivered on Tuesday after he submitted documentation which convinced the governing body over his 41 tax convictions in South Africa. King was also judged upon his suitability to be a director given his involvement with the Rangers oldco when it went into liquidation. "It's great, it's not so much relief because I kind of expected it," he said. "But I think it's been very frustrating for me and for probably most of the members on the board that a lot has been happening over the last couple of months where I think with the effort I've been involved in to try and get the change of control, it's been a great pity I've not been involved in what's going on the last couple of months. "I think we're all delighted that finally we can all get our feet under the table and start to make progress. "The first step for me is spend some time with the existing board members and management and get a good sense of what they have been doing over the last couple of months. "Because with my situation, I had given an undertaking to the SFA that I wouldn't act as a shadow director. So we've been very, very precise in making sure I didn't get involved in the affairs of the club. "So it's going to take me a few days to find out what has happened over the last couple of days and then we've got to sit down and start planning for the future, get the budgets in place, get proper funding plans in place and we've got to carry out what we've promised to do for the fans." Mike Ashley's loan One of King's first tasks could be to find £5m to pay back shareholder Mike Ashley's Sports Direct company after he called on fellow stakeholders to push for the immediate repayment of a loan given in January. If shareholders vote to return Ashley's money, Rangers will have 10 days to raise £5m to pay him back. Repayment would ensure he no longer had control of Rangers' training ground Murray Park, the Albion Car Park and their Edmiston House property at Ibrox Stadium. It would also see him relinquish his stranglehold over the club's brands and trademarks, as well as guaranteeing a greater return of retail profits from the joint venture between Rangers and Sports Direct. But failure to raise the capital required to pay Ashley could see Rangers default on the loan arrangement if shareholders want him to be repaid. The matter is likely to be decided at a general meeting of shareholders in June. King though insists the Ashley matter will not be an issue. He said: "I will check that with the chaps when I see them tomorrow. But it's certainly not something I am remotely concerned about." Asked to confirm whether Rangers had the funds to pay Ashley back his £5m if shareholders required the club to do so, King replied: "Of course we do. It's always been part of the plan, but it's just a question of whether it's an appropriate thing to do." Dave King: Rangers investment was dependent on fit and proper approval

Plus one on here!!

"Members of the RST board met with John Gilligan last night to discuss the role of fan groups going forward, future opportunities for investment in the club and a general update on the situation at Rangers. We had a productive meeting and were reassured that the Rangers board are making steady progress towards their objectives of financial security and on field progress. Main points to emerge from the meeting are as follows: 1) The role of fan groups and fan representation remains at the forefront of the board's agenda and will be progressed over the coming weeks and months. A more robust, democratic and meaningful way for fans to engage with the club should emerge from this process - hopefully including a consolidation of existing and legacy groups. 2) Progress on finance and investment has been slowed as the board wait to appoint Dave King. An investment plan will be available prior to the sale of season tickets. 3) Dealing with legacy issues from the old regime has taken up a great deal of time and remains ongoing. Some legalities around these issues have prevented the board from updating fans as regularly as they would have wished but they remain committed to giving fans as much information as they can. They would ask for patience in the meantime and that fans trust that they are doing what is best for the club - something which has not often been the case in the past few years. 4) There will be an opportunity for fans and fan groups to invest in the club in the future and to play an active role in restoring our club to its pre-eminent position in Scottish football. We thank John for his time and remain enthused at the club's prospects under the new board. We will continue to engage with them regularly and update our members accordingly." Share with your network - See more at: http://www.therst.co.uk/news/rst-meet-with-john-gilligan-2/#sthash.9Edo1V2Q.dpuf

Name dropper! Could be he just didn't tell you.

L Incoming!!!!!!!

The Tommy Sheridan H over Fear rally had nothing to do with the Republican Band. Just a coincidence that they passed the square at that time. And no I'm not a pal of TS or share his views, I see what he's up to with his vote SNP at GE stance.

We sang that in the 60s.

Don't know if that is aimed at me or not, but just for clarity it makes no difference to me if the guy is a MP or not. This comment was made years ago, I'm sure all of us have used the F..... Word a few times in the past.

I'm a socialist who this time voted SNP. I don't believe that all the Rangers fans who voted the same way are brainwashed.

I'm a RST member and find this pathetic. The guy made a comment before the Scot. Gov. brought in their new law. It was years ago and the guy has since apologised. Are the RST going after all who in the past used the term ****** ? Did the RST go after john Reid or George Galloway for singing songs in support of the IRA ?

Same kind of setup as Sandy E. He was on club board.

In the event of King receiving a knock back from the authorities is it not obvious that he will chair the club board and attend all company board meetings?

They are looking at every way they can to give him the thumbs down.

Hehaw to do with the SFA.

Like Scottish Unionist Party ?

They are 16th out of 18 in Bundesliga, could be their planning for the drop!

Most fans of the wee diddy clubs come out with that stuff.

Rangers must be thinking of very low prices for tickets for the play offs surely? After all DK encouraged fans not to buy ST's in the first place. Would be unfair for ST holders to get free entrance and others pay full price.

I cannot see the board charging full price for our home games.

Well said the board.

Very rarely beats a man and usually hits the first defender with attempted cross.

McCoist could not help being the worst manager in my lifetime and probably the worst in the clubs history. But he can do some good now by not bleeding the club dry. He was given a huge salary and penny shares to tow the party line, he knew what he was doing and for who.

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https://www.change.org/p/scottish-football-association-withdraw-the-notice-of-complaint-issued-against-josh-meekings?recruiter=64827593&utm_source=share_petition&utm_medium=twitter&utm_campaign=share_twitter_responsive