Officially announced this morning. Why would King decide to "walk away" now? Has he finally realised, like one of his predecessors, David Murray, that RFC is actually a "cash cow" that generates lotsa debt and, as Murray admitted himself, it "fed" into his own personal fortune to an unacceptable level where he had to "call it a day" - it was financially unsustainable and bankruptcy/administration/insolvency ensued. I notice that King has mentioned the future option of creating and selling more shares. All I can add to that suggestion is AGAIN WHILE MASSIVE DEBT STILL ACCUMULATES ANYWAY?????????
King finally "stepping down" next year!!!?
26-11-2019, 17:00
Dave king: Basically the take over panels ruling did for him.... But looks at his record.
Voted for a CVA, therefore killing old club. Admitted old club and new club were different (twice). Spent millions of their money on court cases, all of which he lost. Even managed to give Ashley £3 million for the privilege of losing kit rights in perpetuity. Dislodged board of directors just when they were about to make the club break even. Diluted everyone's shares again and again to the point where they are now worthless. Sabotaged their first season in the top flight with all that "Going for 55" nonsense...... AND Got cold-shouldered by the City of London.
Yet the huns still lap up his pish. They truly are the thickest supporters in world football. Even Murray didn't treat them as bad as this.
Voted for a CVA, therefore killing old club. Admitted old club and new club were different (twice). Spent millions of their money on court cases, all of which he lost. Even managed to give Ashley £3 million for the privilege of losing kit rights in perpetuity. Dislodged board of directors just when they were about to make the club break even. Diluted everyone's shares again and again to the point where they are now worthless. Sabotaged their first season in the top flight with all that "Going for 55" nonsense...... AND Got cold-shouldered by the City of London.
Yet the huns still lap up his pish. They truly are the thickest supporters in world football. Even Murray didn't treat them as bad as this.
29-11-2019, 13:43
(This post was last modified: 29-11-2019, 13:43 by hibeejim21.)
"In fact, the South African exchange control involvement in reviewing what was going on at Rangers had a subsequent negative impact on the Club. Since year-end I put in an additional £5 million pounds to assist with the immediate funding of our summer transfer business. The South African authority would not approve a further investment in shares in Rangers and eventually only approved a loan on an interest earning basis. That is one reality I face from living in a country that continues to have capital controls."
One last thing.
King is charging them interest on the money needed to keep the lights on! Yet they want to build a statue to this clown outside ibrox
One last thing.
King is charging them interest on the money needed to keep the lights on! Yet they want to build a statue to this clown outside ibrox
29-11-2019, 14:36
One positive that has come out of his tenure is that the UEFA coefficient for Scottish footie has been improved thanks to their efforts in the Europa League together with Celtic's success BUT AT WHAT COST AND SHOULD UEFA FINALLY LOOK MORE CLOSELY AT HOW THEY ARE ACTUALLY DOING IT IN A FINANCIAL SENSE?????
29-11-2019, 15:46
Both Celtic and rangers have done really well in their Europa League groups. No disputing that.
However I honestly believe the spfl and sfa are well aware of how suspect things are behind the scenes at the Craig Whyte arena. They won't touch it with a bargepole though.
However I honestly believe the spfl and sfa are well aware of how suspect things are behind the scenes at the Craig Whyte arena. They won't touch it with a bargepole though.
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