With tensions between the boardroom and the terraces at an all time high, King has emerged as the only potential saviour for the Gers fans to turn to.
The former Ibrox director has pledged to put up to £50million into the club to ensure they are in shape on and off the field ahead of a likely return to the Premier-ship the season after next. But that will only happen if he can oust the current hierarchy.
McLeish, who won seven trophies during his spell in charge at Ibrox, reckons the affinity King has with fans is a major asset to the South Africa-based businessman.
He said: "I can only take Dave at face value - what I've read in the papers and what he's saying. We have to trust that, the fans have to trust that. It sounds as though there is a bit of responsibility being handed to the fans and you know they will go to war to save this club.
"That's probably one of the strong points of the club surviving."
McLeish admitted it would be tough for Rangers to reel in Old Firm rivals Celtic upon their top-flight return.
He said: "It would be a tough ask to compete against a Celtic team who have been evolving over the past three or four years, getting all the Champions League money. They will have an advantage."