Dave King: Rangers must invest to compete with Celtic

DAVE KING believes Rangers should be investing in Ally McCoist's squad - not seeking to cut costs.

Loading Comments
Share
Print
Former Ibrox director Dave King thinks Rangers should be investing in their squad of players
Former Ibrox director Dave King thinks Rangers should be investing in their squad of players

The former Ibrox director has expressed his concerns that decisions made in the coming weeks will affect the team's ability to compete with Celtic when they eventually return to the top flight.

He said: "The club has to have funders who will invest to ensure we can compete with Celtic when we get back to the top. Unfortunately, existing shareholders either don't have the money or the willingness to support Ally.

"With the right shareholder profile we should be investing in the squad, not reducing it. We should be supporting Ally 100%."

The first-team wage budget is 30% of turnover - significantly less than Uefa's recommendations - and there is currently no scouting set-up, following Neil Murray's removal as head scout last year.

Rangers could return to the top flight within 18 months, but the South African-based businessman is concerned about how strong the team will be then. King has said he would lead a new round of fund-raising through a fresh share issue.

The current shareholders would have to re-invest to maintain the relative size of their stake in Rangers International Football Club, so such an initiative would likely change the ownership dynamic.

Wallace has said he will address the need for new funding once the business has been streamlined.

King held meetings with Sandy Easdale, the shareholder and member of the Rangers Football Club board, last year in a bid to broker a deal that would have seen him invest in the club and take up the chairman-ship of RIFC plc.

He could not, however, reach a compromise deal with the different factions within the shareholder base.

He was also keen that Paul Murray, who King previously served with on the board, should return as a director.

Murray was among the four nominees who did not receive enough votes at December's annual meeting of shareholders to be elected to the board.

King, though, believes that the shareholders ought to have been open to working with Murray, who did receive the votes of around one-third of the RIFC shareholders.

"It is a great pity that the shareholders missed the opportunity to engage positively with Paul Murray," King said.

"He is a man that all Rangers' fans can completely trust."

Football

Commenting & Moderation

We moderate all comments on Evening Times on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

149303

Have you got a story?

Contact the news desk on 0141 302 6520 or email news@eveningtimes.co.uk
A weekly round up of social highlights

A weekly round up of social highlights

Cat's Eyes on Glasgow

Here are my highlights from my visit to the Edinbrugh Fringe.

Times Out

Entertainment

Lifestyle

TV Advert
Gail’s Gab

Gail’s Gab

Gail Sheridan is a mother-of-one and wife to Tommy and she likes to get political with the hot topic of the week in her column Gail’s Gab.

Michelle McManus

Michelle McManus

Sussed in the City

I had an ice scream on the bucket challenge.

Janice Bell

Janice Bell

You couldn’t make up half the stuff that happens to PA Janice Bell- some of the jams she gets herself into are worth a story or two.