Tomorrows AGM

[ian1964 10,723]

DK; Lows; x 2 managers under performing. Can't compete with English champ. Club is still not yet stable. Business process better & especially social media needs improved. Appointment imminent.

[ian1964 10,723]

DK ends his address by thanking former director John Gilligan. "We miss you John". Meeting now moving onto Q&A

[ian1964 10,723]

First Q. What's happening with takeover panel and why does club keep selling players under value

 

 

DK: Takeover panel ruled I need to make offer personally. My view is my company New Oasis has to do it. No decision yet

[ian1964 10,723]

Ach!, I'm out, read about it later:)

[Uilleam 5,929]

Dave King admits Rangers have badly managed the sale of Barry McKay, for example. He should have gone for two million euros not £500,000. He concedes it was “bad management” and has vowed to be better in future.

 

On the takeover panel, King says they are awaiting ruling from Court of Session, but he believes he should not have been brought to book because his investment is made through his trust vehicle New Oasis Asset Limited not through him personally

[Uilleam 5,929]

King on manager hunt - some individuals 'are already under contract'

 

The search for Caixinha’s successor has been “thorough”, says King.

 

They re-evaluated criteria for a new manager after Caixinha’s axeing and short listed candidates include individuals “already under contract and we should have something to report on that shortly.”

[Uilleam 5,929]

King on ending the Sports Direct deal

 

King says: “We couldn’t disclose the payment of £3m to Sports Direct because of a confidentiality clause in our agreement with them.”

 

However, he adds it was over-ridden by the legal requirements of the club’s financial report.

 

King says the club will make the £3million paid to Mike Ashley back within a year.

[Uilleam 5,929]

Supporters’ group Club 1872 - Rangers second largest shareholder - say the club should have named a new manager sooner and that the delay has been bad for the image of Rangers and has seen the team lose ground in the title race.

King says it can take him up to three months to appoint an executive in South Africa and refutes claims the currently delay has gone on too long.

 

He adds: “We’ve taken the appropriate amount of time for an appointment we view will be for the next three-three-and-a-half years.”

[Uilleam 5,929]

Only repeated success in Europe will bring self-sustainability'

 

Question: When will Rangers be self-sustaining?

 

King: “The club and company will only be self-sustaining when we’re consistently successful in Europe and that remains our target.

 

“We’re in a position at the moment we can’t budget...and we’ll continue to do what is necessary to get the club back on track as soon as possible.”

[Uilleam 5,929]

No change to Celtic ticket allocation at Ibrox

 

Questions move on to Celtic’s allocation of tickets for derby games at Ibrox.

 

A fan asks why they should get the full Broomloan Stand for Old Firm matches?

Managing Director Stewart Robertson responds: “There are various implications of making the move and at the moment the status quo will continue for a while.

 

“There are segregation and safety are issues and we’re dealing with the police. There will be no change in the arrangements in the short term. There are financial, safety and segregation issues and the safety certificate is tied into what our segregation arrangements are. I get the emotional argument.”