chilledbear 16 Posted April 24, 2013 Share Posted April 24, 2013 Former Rangers director Dave King is investigating a bid to wrest control of the club from Charles Green and his investment cronies. But the South African based businessman â?? who lost £20m via a previous investment in the Ibrox club â?? faces stiff opposition from Greenock bus tycoon James Easdale. Easdale and his brother Sandy â?? jailed for VAT fraud in 1997 â?? have approached Green over the sale of his 8 per cent stake. The siblings, who own McGillâ??s Buses, already hold 6 per cent and are keen to secure representation on the Ibrox board. Ibrox return? Dave King, the former Rangers director, is weighing up a bid to take over from Charles Green However Castlemilk-born King has told Sportsmail that he intends to ask the institutional investors behind the Yorkshireman if they will sell to him instead. Aware of the move by the Easdale brothers to buy Greenâ??s eight per cent shareholding, the 57-year-old is currently trying to establish precisely who owns the other shares with a view to making a counter move. 'I am very much assessing my position at the moment,' said King from Johannesburg. 'Right now I am trying to get as much information as I can to understand the true corporate structure behind Rangers. 'I am trying to discover if the investors would be in a position now to consider their situation. 'Most people donâ??t want to lose money. 'But I want to find a different way forward. And the removal of Charles Green certainly provides an opportunity to take things a forward a different way at Rangers. 'I want to see if the individuals who own the shares are amenable to having a discussion. 'The issue is not one of just buying Charles Greenâ??s shares. His eight per cent does not make much difference 'There is no point in being a minority shareholder with no influence or power. 'But now there are two possibilities. 'One is that his shareholders regroup and find another man and continue to support him. In which case we have a continuation of that previous regime and things will catch up with them in a year or two. 'Or, alternatively, if the shareholders are in any way uncomfortable and want to exit then this may be the opportunity now for others to come in. 'And one of those could be me.' The legal claim of former owner Craig Whyte to the clubâ??s assets further complicates the picture. However King is dismissive of the former owner, saying: 'I would discount Whyte completely.' King has been linked with bids for the club in the past, but was frustrated by a freeze on his UK assets by the South African Revenue Service (SARS). In November he won a six year battle to have the order lifted, freeing him to invest in UK companies. Last month he reached a confidential agreement with SARS which will see several of his South African companies and assets sold to offset a tax debt disputed for well over a decade. The Glaswegian also entered into correspondence with the SFA last year and believes his legal team can convince the governing body he is a â??fit and proper personâ?? to return to the Ibrox boardroom. â??The response of the SFA was that because it was only allegations they would take representations from my legal team and if they could convince them I had a strong case then there would be no issue.' There will also be questions over the involvement â?? if any - of Sandy Easdale in the Ibrox acquisitions of his brother James. Jailed for 27 months in 1997 the tycoon received VIP treatment from Green prior to investing in the recent share issue. McGillâ??s Buses are Scotlandâ??s largest independent bus operator and employ 700 staff from their Greenock HQ. Last night Rangers sources claimed they had no knowledge of Green agreeing definitively to sell his shares. However, the matter was discussed at a board meeting yesterday, where the interim appointment of Craig Mathers â?? a Green investor â?? as interim Chief Executive also moved closer. Read more: http://www.dailymail.co.uk/sport/foo...#ixzz2RMipVfHb 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted April 24, 2013 Share Posted April 24, 2013 We are in now in a club sale process. Just a matter of time and who to. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 24, 2013 Share Posted April 24, 2013 i dont think theeasdales even have the money to own the 6% the supposedly do never mind outbid dave king. stalking horses i suspect. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted April 24, 2013 Share Posted April 24, 2013 i dont think theeasdales even have the money to own the 6% the supposedly do never mind outbid dave king. stalking horses i suspect. I think so. But it's hard to be definitive on all this. 0 Quote Link to post Share on other sites More sharing options...
Blue Moon 1,113 Posted April 24, 2013 Share Posted April 24, 2013 It is all beginning to look very contrived now. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,247 Posted April 24, 2013 Share Posted April 24, 2013 I did not check it, but ain't King barred from any directorship as he also falls under the 5-year pre-admin rule? (Then again, I don't know whether an "owner" needs to be a director ... 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted April 24, 2013 Share Posted April 24, 2013 Not more bluster hopefully. What timescales are involved I wonder with season ticket sales crucial. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted April 24, 2013 Share Posted April 24, 2013 I did not check it, but ain't King barred from any directorship as he also falls under the 5-year pre-admin rule? (Then again, I don't know whether an "owner" needs to be a director ... As I wrote in yesterday's article, the five year insolvency rule is under the discretion of the SFA. Strictly speaking he wouldn't be fit and proper but if he can prove he wasn't a key part of the oldco's demise, he may be exempt. 0 Quote Link to post Share on other sites More sharing options...
Waltersgotstyle 297 Posted April 24, 2013 Share Posted April 24, 2013 Dave King has always been my favourite to run Rangers, he is a man who is willing to subsidise the club until we get back on our feet. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 24, 2013 Share Posted April 24, 2013 as DB mentions.....just because you are the owner, doesn't mean you are a director - Mad Vlad @ Hearts being the prime example. How many times has he come out with various comments about refs etc, yet the SFA/SPL etc are powerless to do anything because officially he is not involved in the management/running of the club What could the SFA do if Hargreave Hale Limited (for example), the 2nd largest shareholder, made comment in the press about the performances of a Scottish ref??? They are part owners of the company, but have no presence on the Board. The same could apply to King.... 0 Quote Link to post Share on other sites More sharing options...
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