King: City won't risk more cash for Gers

FORMER Rangers director Dave King today said institutional investors are not prepared to plough any more money into the Ibrox club.

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Dave King may put cash into Gers
Dave King may put cash into Gers

The South Africa-based multi-millionaire believes it will be necessary for his boyhood heroes to have another share issue in the near future.

And the 58-year-old Glasgow-born businessman has suggested that he will come on board when it is.

King said: "A new share issue is 100% inevitable. I expect to be involved in that when the time comes.

"They had one share issue last year where they managed to line up some institutions to invest.

"That's not going to happen again because these institutions were very badly burned.

"I don't think you will find any institutional support for Rangers going forward."

King came to Scotland and met with major players in the Ibrox power struggle before the club AGM in November.

He was keen that any money he invests goes straight to the club and the team, but was unable to broker a deal to return.

The Scot, though, feels the board will have to seek a fresh injection of cash if fans are to part with money for season tickets next season.

He said: "How are the board going to be able to show the fans the way forward when it comes to stump up for season tickets?

"How often can you say to the fans: 'Trust us and give us your money'. What they are saying is: 'We're not putting money in but we want you to pay yours up front.' Cost-cutting isn't going to help us when we get back to the top flight."

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