Former Gers director King last week called on fans to pool their cash in a trust this summer instead of giving it straight to the Ibrox club.
And the Union of Fans, a group made up of six supporters organisations responded quickly to the appeal from the wealthy South African businessman.
Now the Castlemilk-born multi-millionaire is poised to return home to help ensure the controversial scheme is set up legally by the coalition. The 58-year-old will fly to Glasgow in the next 10 days, possibly even sooner, to oversee the formation of the trust and a fund to help fans secure a stake in the club.
Meanwhile, the Union of Fans last night expressed concern at the failure of the club to supply the Rangers Supporters Trust and other fans with an updated register of club shareholders.
It read: "This is a legal entitlement of all shareholders. We would urge the company to act on their promises of transparency and engagement with supporters."
The Union of Fans also criticised the decision by Rangers to arrange a £1million loan with major shareholders Laxey Partners that will see the trust fund make a £150,000 profit. The coalition, which is made up of the Rangers Supporters Assembly, Association and Trust, the Blue Order, the Union Bears and the Sons of Struth, has also asked for clarification on what happened to Charles Green's shares.
The statement continued: "What has happened to the five millions shares Charles Green awarded himself at 1p each?
"It was widely publicised that Green had struck an agreement to sell those shares to the Easdales in December 2013. But no record of such a share trade exists.
"It is unclear if the shares have moved out of his control.
"Dave King is correct to express his fear that Charles Green and those he represents are possibly still controlling Rangers."