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Tycoon Dave King set to return to Rangers as chairman and is expected to plough cash into the Ibrox coffers straight away

 

10 Oct 2013 07:12CHIEF executive Craig Mather flew to Johannesburg at the weekend for talks aimed at bringing millionaire King, 58, back on board. King could be back in charge before the club’s AGM on October 24.

ALLY McCOIST last night welcomed the move to bring exiled millionaire Dave King back to Ibrox as chairman.

And the Rangers boss hailed King’s return as a masterstroke that can help steer the club back to the top.

McCoist knows South Africa-based King well from his previous stint as a director of the club under Sir David Murray and he accepts the 58-year-old will do his all to bring back the glory days.

Record Sport understands King is ready to complete a sensational comeback as chairman before the annual general meeting on October 24. He has been locked in talks with chief executive Craig Mather, who flew to Johannesburg for a face-to-face meeting at the weekend in a bid to bring the businessman on board.

Those discussions appear to have borne fruit, with an announcement expected soon that King – who poured £20m into the club during the Murray era and lost it when the club went into administration – will invest significant sums of money which will effectively see him take the reins at Ibrox.

McCoist believes that having a “Rangers man” in a position of power can only be good for the club and praised the board, which has been under fire from fans, for making the move.

He said: “Dave has already invested vast sums of his own money into Rangers and that tells me he’s the kind of investor we need at this club again.

“The recent accounts have been well documented and the fact is we will need reinvestment at some stage in the future. If we are going to get reinvestment it would be good to get it from someone who has the best interests of the club at heart.

“Dave has and clearly the board also believe that to be the case.

“The fact a member of the board has flown to South Africa for talks would indicate they feel it would be hugely beneficial to have Dave back on board. It can only be a good thing for Rangers.

“I believe the board deserve credit for making such an effort to attract someone like Dave back to the club.

“This is a message that they are trying to do their best for Rangers.

“They have a difficult and important job to do and it is encouraging to think we are talking to someone who could help move the club forward. It would be a great thing for us all.”

Despite losing a fortune in the club previously, Castlemilk-born businessman King has never hidden his determination to return when a long-running tax dispute with the South African government was resolved.

That issue came to an end last year and King is now free to become a director.

Record Sport understands King has decided that the time is right, although a number of conditions have still to be met.

But last night it was looking increasingly likely King was on his way back and with a shareholding and influence that would dilute the power of the directors, who have been under fire for the manner in which the club has been run since Charles Green arrived in May 2012.

The Ibrox support has been protesting fiercely against the current board and stepped up their campaign following the publication of accounts last week which showed Rangers had lost £14m over the past 13 months. That is the period in which Green, who has now left the club, and finance director Brian Stockbridge took massive executive salaries and

pocketed huge bonuses for winning the Third Division.

Fans want the removal of the current board and shareholders are expected to call for dismissals at the agm. But if as expected King joins as chairman, many of their fears may be allayed.

http://www.dailyrecord.co.uk/sport/football/football-news/tycoon-dave-king-set-return-2356060

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Hmmm, should be good news on the face of it - AGM resolutions 9 & 10 muddy the waters though.

 

I do hope King knows what he's doing and that this is a long term move beneficial for the club rather than a short term ploy to assist the incumbents through the AGM.

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I find this a rather worrying move, clearly the spivs are/were panicking that they would be run out of their gravy train and are doing this to cling to power. How anyone (including King) can trust them to behave in the clubs interests in the future after all they have said and done is beyond me. This move may just keep Mather, Stockbridge and the Easdales at our club and they and toxic Jack will continue ripping the pounds and piss out of us, the fans that they clearly despise.

 

If King is playing a game of double bluff with them, then it's on a knife edge who will triumph in the end and how much collateral damage there will be.

 

We are talking abut the folk who've stolen millions and attacked fans staying on our board, deciding our future while lining their pockets.

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Hmmm, should be good news on the face of it - AGM resolutions 9 & 10 muddy the waters though.

I do hope King knows what he's doing and that this is a long term move beneficial for the club rather than a short term ploy to assist the incumbents through the AGM.

 

I think he does Frankie. I would say if there was any man out there who could outsmart the lot of them then King is that man. I honestly feel that they are amateurs in comparision. Any bets on AJ being brought back into the fold at some stage by King? He will want someone that he can trust in there with him.

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