Tycoon Dave King set to return to Rangers as chairman

[Frankie 8,570]

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.

 

Generally I agree.

 

I do read this as a rather large concession by the current board and I do think King is experienced enough to play the situation to his advantage. We're not out of the woods yet though.

[BeardyGuts 6]

Generally I agree.

 

I do read this as a rather large concession by the current board and I do think King is experienced enough to play the situation to his advantage. We're not out of the woods yet though.

 

I really can't see King coming back unless he knows he will have sufficient influence and allies to affect change..otherwise whats the point he would just end up in the same position as M.Murray did.

 

The timing makes me awfully suspicious though especially since as far as i can figure out no actual quotes from King on the matter yet.

[andy steel 0]

King as chair, with a selection from the people put forward by McColl's group, would make a decent enough board for me.

 

There's still no room for the current lot, although I do concede the money the Easdales have put in makes their case slightly different.

[Bluedell 5,627]

There's still no room for the current lot, although I do concede the money the Easdales have put in makes their case slightly different.

 

How much have the Easdales out into the club? Doesn't appear to be that much, if any at all.

 

They may not be happy with this move as it could stymie their goal of becoming owners.

[trueblue 64 57]

King as chair, with a selection from the people put forward by McColl's group, would make a decent enough board for me.

 

There's still no room for the current lot, although I do concede the money the Easdales have put in makes their case slightly different.

The Easdales can stay as they have put cash in, but Mather who has put a million in can't.

What cash have the people put forward by McColl put in, heehaw.

King will put in a substantial sum, he will demand a substantial say and he will demand strict financial governance.

Welcome home Dave.

[Tannochsidebear 2,420]

And of course you have to take into consideration that this is another story by the current board leaked to the Daily Rhebel no doubt through Toxic Jack.

 

There is no proof of any deal with King for his return in the current set-up, and indeed everything I have heard in recent weeks goes totally against this kind of deal being achieved as King wants them all out and the Murrays in from what I'm told.

 

I take this story with a massive pinch of salt and although it is not impossible to be true, the facts as we knew them up until Mather went to Joburg are at total odds with the Rhebel article. Also disappointed with Ally for giving quotes to their story directly to a paper that hates us, but actually some of the sentences he is quoted as saying I really doubt he said, and sound more like PR spin from Irvine as Ally has not really been too complimentary about the current board in recent weeks and has remained firmly on the fence, so for him to say what is quoted as saying is either the first time he has come out and backed the current board since the "Spivs out" campaign started, or he has been "misquoted", which again would not be anything new from Irvine and the Rhebel.

 

This story also flies in the face of this morning's LSE announcement that Harte has left the board. If Mather had done a deal to save the current board by bringing in King as chair, there would have been no need for Harte to jump ship before the AGM. The fact Harte has jumped now indicates to me exactly the opposite from the Rhebel story, and that actually Mather's last gasp attempt to keep power by bringing in King as chair has failed and that therefore the current board are not too confident of their chances of success at the AGM and Harte has decided to jump now rather than wait to be sacked in a couple of weeks time.

[der Berliner 3,749]

I believe it when it happens.

 

And I for think that King will come back to do things like he wants them to do.

[Frankie 8,570]

Interesting take on things TB...

 

It would be bizarre for the current board to release such stories if they were not without merit. Only one person can confirm one way or the other though I suspect Dave King will be keen to retain that strength of hand until he gets what he wants. Hart certainly seems to have folded.

[der Berliner 3,749]

Dave King has agreed in principle to return to Rangers as chairman.

 

The former Ibrox director is prepared to resume a role at the club in return for certain provisions being met, principally full access to the club's financial details.

 

Craig Mather, the Rangers chief executive, and the finance director Brian Stockbridge met King in South Africa on Monday to discuss the possibility of him returning to Rangers. The Glasgow-born businessman will only invest when the time is right and knows that the money will be going straight into Rangers for the club's benefit, most likely as part of a fresh share issue.

 

His return needs board approval, though, and that will require the assent of James Easdale, a non-executive director of Rangers International Football Club, and his brother, Sandy, who sits on the football club board, who own or have proxy over almost 25% of the club's shares, as well as the other directors, Ian Hart and Bryan Smart.

 

Ally McCoist would welcome the return of King since he has a lifelong affinity for Rangers and a record of investing in the club. King put £20m into Rangers when Sir David Murray was owner and after resolving issues with the South African Revenue Service, is free to invest at home and abroad without restriction.

 

"I believe the board deserve credit for making such an effort to attract someone like Dave King back," the Rangers manager said. "This is a clear message they are trying to do their best for Rangers. Someone like Dave King has already invested vast sums of his own money and that tells me he's the kind of investor we need again. The recent accounts have been well documented and the fact is we need reinvestment at some stage.

 

"If we are going to get that, it would be good to get it from someone who has definitely the best interests of the club at heart. Dave King 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 also feel it would be hugely beneficial to have Dave back on board. It can only be a good thing for Rangers. The board 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."

 

The board is under pressure, with fans' protests gathering momentum, and a group of shareholders seeking to replace all directors at the annual meeting on October 24. On Monday, a Court of Session hearing will judge whether the board's attempts to block the nominations of Paul Murray, the former Rangers director, former chairman Malcolm Murray, and businessmen Scott Murdoch and Alex Wilson are valid or not.

 

Former Rangers chairman Alastair Johnston has also welcomed King's potential return. Johnston facilitated his friend's investment under Murray, and believes he has the credentials to help, but does not think King will return unless he has some control. "I'm not sure how much authority the chairman [position] has right now," Johnston told BBC Scotland. "If Dave can't see the chairman is anything more than a figurehead I don't think he's going to be interested. The care and attention he pays to the financial matters would serve Rangers well. Whether he would come into the circumstances where he doesn't have a great deal of control as part of an investment is only one he can analyse at this point in time."

 

Johnston urged the Rangers fans to make full use of the forthcoming annual meeting to ask questions of the current directors, who will all be up for re-election. He also backed Paul Murray for a return to the board for "credibility with the financial institutions", and said that Walter Smith's decision to stand down was made to reveal the extent of the problems within the club.

 

"Walter brings heart, passion and credibility, and by walking away he demonstrated the seriousness of the situation," Johnston said. "He wasn't running away because people were firing at him. By what you're doing and how you do it, you're transmitting a message."

 

Herald

 

Every reporter seems to know a bit more info here and there.

 

Anyway, could it be possible that (similarly to SDM back then) King might come back as chairman right now, with relatively little investment of his own, demanding a new share issue of to the worth of say 20m and buys 95% of that himself ... and thus getting a major(ity) stake in the club?

[the gunslinger 3,366]

And of course you have to take into consideration that this is another story by the current board leaked to the Daily Rhebel no doubt through Toxic Jack.

 

There is no proof of any deal with King for his return in the current set-up, and indeed everything I have heard in recent weeks goes totally against this kind of deal being achieved as King wants them all out and the Murrays in from what I'm told.

 

I take this story with a massive pinch of salt and although it is not impossible to be true, the facts as we knew them up until Mather went to Joburg are at total odds with the Rhebel article. Also disappointed with Ally for giving quotes to their story directly to a paper that hates us, but actually some of the sentences he is quoted as saying I really doubt he said, and sound more like PR spin from Irvine as Ally has not really been too complimentary about the current board in recent weeks and has remained firmly on the fence, so for him to say what is quoted as saying is either the first time he has come out and backed the current board since the "Spivs out" campaign started, or he has been "misquoted", which again would not be anything new from Irvine and the Rhebel.

 

This story also flies in the face of this morning's LSE announcement that Harte has left the board. If Mather had done a deal to save the current board by bringing in King as chair, there would have been no need for Harte to jump ship before the AGM. The fact Harte has jumped now indicates to me exactly the opposite from the Rhebel story, and that actually Mather's last gasp attempt to keep power by bringing in King as chair has failed and that therefore the current board are not too confident of their chances of success at the AGM and Harte has decided to jump now rather than wait to be sacked in a couple of weeks time.

 

Perhaps mccoll has forced them over a barrel and king is going to roger them.

 

Regardless nothing can save mateher and stockbridge now imho.

 

At a push the easdales may have to stay to represent zeus's significant minority.