ian1964 10,724 Posted March 14, 2014 Share Posted March 14, 2014 DAVE King will help rebel Rangers fans to finalise plans for the formation of a trust for season ticket money at talks in Glasgow this weekend. And supporters are set to show their backing for the South Africa-based businessman at the game with Dunfermline at Ibrox tomorrow. The Union of Fans - an umbrella organisation comprising six supporters' groups - will distribute 30,000 blue cards to spectators at the SPFL League One match. And they will be asked to hold them up in the 18th and 72nd minutes of the match and "paint Ibrox blue" to underline their backing of the former director. The Union want the current board to accept the wealthy Scot's proposal to inject fresh share capital into Rangers. Union spokesman Chris Graham said: "The club clearly needs investment and Dave King has stated his willingness to provide it. "We hope that fans will take the opportunity to show their support for someone with a track record of supporting Rangers both personally and financially. "Hopefully the board will realise the strength of feeling on this issue and adopt a less adversarial approach in their future dealings with Dave King. "Fans should not underestimate the power they have to push for positive change at another critical time for the club." King has spent the last two days in London speaking to institutional investors in Gers about whether they would back his plans for the Ibrox club. The 58-year-old, who previously invested £20million of his personal fortune in the Light Blues, will now meet with the Union and the current board of directors over the weekend. He is urging fans to pool their season ticket money and only release it to the club on a "pay-as-they-play" basis when their questions are answered and their demands are met. The Castlemilk-born financier has vowed not to return to his adopted homeland until a trust for pooling season ticket money is legally in place. King's visit follows the news that Rangers had agreed a £1.5m loan for "working capital" with shareholders Sandy Easdale and Laxey Partners, secured on Edmiston House and the Albion car parking facilities. The revelation that Laxey Partners will make a £150,000 profit on the loan when it is repaid in September has also angered fans. Wealthy Rangers fan George Letham has volunteered to loan the Ibrox club the money on better terms and officials are believed to be considering his proposal. Documents lodged with Registers of Scotland, the country's official land and property register, have shown that Rangers will use season ticket money to repay the loan. http://www.eveningtimes.co.uk/rangers/king-to-set-out-pay-as-they-play-scheme-to-rangers-fans-155805n.23693712 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,572 Posted March 14, 2014 Share Posted March 14, 2014 Will have been a busy few days for KIng. Expecting to hear more about his plans today or tomorrow to maximise participation in the card display. 0 Quote Link to post Share on other sites More sharing options...
Ser Barristan Selmy 222 Posted March 14, 2014 Share Posted March 14, 2014 The trust thing isn't going to work. The club would go bankrupt and the board won't accept it. The only chance this has of succeeding is basically starving the club out, thus forcing the current owners to disappear but this runs the risk of another bankruptcy event and another plethora of charlatans coming in to milk us. King should just put up and buy the club. We're already using next year's season ticket money to pay off current debts, then it will be needed simply for cash flow. Not sure how anyone thinks it would work if they were to get it all in increments, when clearly they will need it all in the summer. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted March 14, 2014 Share Posted March 14, 2014 And your alternative if the club don't agree to any of this Dave (and you have to highly doubt they will)? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,749 Posted March 14, 2014 Share Posted March 14, 2014 Will have been a busy few days for KIng. Expecting to hear more about his plans today or tomorrow to maximise participation in the card display. Party-politics. You wonder how much info will come from King and the investors now. Going by the way this came to pass, you can imagine a few thousand people sitting on the edge and are glued to the news outlets, who will most likely drip feed anything they can get and taint it with the known stuff, just like the ET does above re Laxey and ST money. Oh the media loves this. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted March 14, 2014 Share Posted March 14, 2014 And your alternative if the club don't agree to any of this Dave (and you have to highly doubt they will)? Would you, if you were them? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted March 14, 2014 Share Posted March 14, 2014 if enough people stand shoulder to shoulder then they will have no choice. it really is that simple. the future will be what we make of it. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted March 14, 2014 Share Posted March 14, 2014 wouldn't a board have a duty of care to not turn away revenue? 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted March 14, 2014 Share Posted March 14, 2014 wouldn't a board have a duty of care to not turn away revenue? That's a very interesting point, they have a fiduciary duty to "display the care, skill and competence that is reasonable for somebody carrying out the functions of the office, and if a director has any special qualifications an even higher standard will be expected. " and to "promote the success of the company"; but if you don't agree that they have done so then you would have to take them to court and prove they didn't act with due care or in not in good faith, neither of which would be easy. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted March 14, 2014 Share Posted March 14, 2014 might get easier if they add this to not knowing which is more expensive 150k or 75k. 0 Quote Link to post Share on other sites More sharing options...
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