Tycoon Dave King Set To Return As Chairman Of Scottish Rangers
Scottish League 1 Rangers Manager Ally McCoist "welcomed the move to bring exiled millionaire" Dave King back to Ibrox as chairman, according to David McCarthy of the Scotland DAILY RECORD. The Rangers boss hailed King’s return "as a masterstroke that can help steer the club back to the top." King is "ready to complete a sensational comeback as chairman before the annual general meeting" on Oct. 24. He "has been locked in talks" with CEO Craig Mather. Those discussions "appear to have borne fruit," with an announcement expected soon that King -- who poured £20M ($32M) into the club during the era of former Chair Malcom Murray and lost it when the club went into administration -- "will invest significant sums of money which will effectively see him take the reins at Ibrox" (DAILY RECORD, 10/10). The SCOTSMAN reported McCoist said, “I believe the board deserve credit for making such an effort to attract someone like Dave King back to the club. I think this is a clear message that they are trying to do their best for Rangers." Concerns "were raised over the finances of the club when annual accounts published last week." McCoist added, “The recent accounts have been well documented and the fact of the matter is we will need reinvestment at some stage in the future. If we are going to get reinvestment then it would be good to get it from someone who has definitely got the best interests of the club at heart" (SCOTSMAN, 10/10).
HART RESIGNS: In Edinburgh, David Gunn reported Rangers Non-Exec Dir Ian Hart "has resigned from the board." The retired Glasgow businessman "has stepped down from the role to focus on charity work." He had "accepted a place on the board" last November, along with former boss Walter Smith, "who went on to become club chairman before announcing his resignation in August." Hart’s own exit "comes against a backdrop of off-field turmoil, with a group of shareholders attempting to push through changes in the boardroom" (SCOTSMAN, 10/10).