DJ: Courting Dave is only way for Rangers Kingdom to prosper

I DO not pretend to be any sort of financial whizz kid.

Loading Comments
Share
Print
DJ wants club to listen to King
DJ wants club to listen to King

But I know this much: It is absolutely imperative the Rangers board do whatever is necessary to enable Dave King to invest.

The South Africa-based businessman has confirmed he is prepared to put up to £50million of his own personal fortune into his boyhood heroes.

And he is not interested in receiving any of that back.

He just wants to help the Glasgow giants return to the forefront of Scottish football.

I think most people felt that Dave would put in far less, in the region of £5m or so.

But now it has emerged that it is going to be mega-money.

The Castlemilk-born multi-millionaire only wants his money to go into the club. He does not want to pay existing shareholders money for their stake. It looks as if, then, it will take a new share issue for the Scot, who once invested £20m of his own wealth in the club, to come on board.

And, of course, the larger investors in Rangers are ultimately looking to make a profit on their investment.

They will not want their shares diluted. But something, somehow has to be worked out by the board that enables Dave to get involved.

The pre-tax operating loss of £3.5m in the seven months to December that was announced by the club yesterday drove home how much he is needed. I have said it on many occasions.

For me, it is a no-brainer. Rangers need significant investment. And Dave has significant sums of money to invest.

The warning from chairman David Somers that, without supporters' season-ticket money, there were worries about the club's vailability as a going concern, was also alarming.

The board are looking at attracting investment to the Ibrox club. But they do not have anybody who is prepared to plough in the sums that Dave is prepared to plough in,

We will have a better idea what Rangers plan to do in the future when chief executive Graham Wallace completes his 120-day restructuring project some time next month.

But hopefully he remains in touch with Dave and keeps him informed about what is going to happen.

Hopefully, he can play a key role going forward. Dave said a lot of things in his interviews with the Scottish newspapers this week.

But what I really liked about it is that he set out exactly where he is coming from and what his intentions are. Another thing he stressed that caught my attention was that he is not interested in getting involved in a fight with the board.

Even if he puts in the sums that he has talked about, there is no stipulation that, if he does invest, certain members of the board must go.

So I think supporters must listen - and, to be fair to them, they appear to be - to what he has got to say.

They wanted a saviour. Now it looks as if they have one.

There is no doubt that if Dave invests the sums of money he is talking about then he will want to be on the board.

But, of course, he is based over in South Africa. He is not going to be in Scotland all year round.

So I would expect him to want to be represented on the board as well, and I would anticipate that his pal Paul Murray, another former director, would go on to the board as a condition of him putting in the sums of money that he is talking about.

I was interested in everything that Dave had to say about getting involved with Rangers. I think that it is great that he cares so passionately about the club. He wants it back in the top flight in two years' time and, what is more, competing with Celtic.

He wants to see Ally McCoist given money to bring in new players to make the team stronger so they can do that. I am sure the manager and the fans will be delighted to hear that.

He has admitted he is prepared to invest between £30m and £50m of his wealth in the club. But that will not be lavished on players.

Rangers have been down that road before and it is one of the reasons they ended up in the predicament they found themselves in a few years ago.

No, they have to get stronger gradually with each league they go into by adding three or four players of a better quality than they have just now.

They will not even be splashing out £1m for a new player.

They are hoping to bring in free transfers, the likes of Gavin Gunning and Shaun Hutchinson, this summer.

As things stand, Rangers will be favourites to win the SPFL Championship next season with the squad that they have got at the moment.

But the manager is going to have to bring in new players. Rangers can't just wait to get back into the top flight and then buy 10 players when they get there. The team they have at the moment is not good enough to step up another notch and challenge.

And I think the football side of the club has to be right for the fans to continue to get behind the club.

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.

157465

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

SPOTY, Cinderella at the SECC and festive things to do.

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

What a year for me...it’s a wonderful life!

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.