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SBD Global/October 14, 2013/Franchises

Former Rangers Director Dave King Says He's Ready To Return As Club Chair

Another "major boardroom upheaval is on the cards" at Scottish League 1 Rangers after Dave King announced Sunday that he is ready to return as club chairman after “very positive” talks with senior club officials in South Africa, according to Moira Gordon of the SCOTSMAN. King has settled a "long-running tax dispute with South African authorities," and is now free to invest in the newco Rangers. And King confirmed that "he is planning for the funding of the club already," to get the Rangers back to the top of the Scottish game. There has been speculation that King wants former Dir Paul Murray to rejoin the Rangers board, but he said: “My involvement is not linked in any way to any other individual, albeit I have my private thoughts as to certain individuals that might add value to the club going forward. Ultimately it is for the shareholders to make such decisions” (SCOTSMAN, 10/13) The BBC reported King invested £20M when David Murray was owner of the Rangers, but "lost that money in the financial meltdown at Ibrox last year." In South Africa, he has agreed to pay £44M to the country's Revenue Service, as criminal charges against him were dropped -- a settlement King says "removes any impediment" to him being appointed to the board. The appointment "would have to be ratified by Rangers's nominated adviser, Daniel Stewart" and King's problems in South African "would form part of that decision-making process." King would also have to satisty Scottish FA regulations (BBC, 10/13).
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