DAVE KING has revealed his ambition to stop the liquidation process of the Rangers oldco and return the club and its assets to their former holding company.

Three years ago, creditors voted against a Company Voluntary Arrangement and the liquidation of RFC 2012 plc, formerly The Rangers Football Club plc, by BDO is currently continuing.

But the complicated case is mired in controversy after Craig Whyte and Charles Green, whose consortium purchased the business and assets of Rangers from administrators Duff and Phelps, as well as Paul Clark and David Whitehouse of the firm, Gary Withey and David Grier appeared at Glasgow Sheriff Court charged with a range of offences last week.

King said: “We have a vision going forward where I would like to see us taking oldco out of liquidation and putting assets back into oldco – putting the old Rangers back into the old company. We can’t do it while all this stuff is being sorted out.

“But these are the areas behind the scenes where we are fairly senior commercial people and I think we can do that.

“I’m just hoping we continue to do what is right on the football field and leave us to deal with the other challenges as best we can when they arise.

“I don’t think it is important, I just think it would be a good thing to do. It would be back to the traditional Rangers.

“That is the company and it is a valid thing to take a company out of liquidation and put the assets back into it. It would be a good thing to do. I think the supporters would like it.

“It is not economically important but it is something I would like to do.

“You can never rewind what has happened but you can try and look back in 100 years’ time and say there was a blip of four or five years in Rangers’ history when this all happened and it was resolved to the norm again.

“It is practically feasible and legally feasible. We just have to get in the position where the liquidators have done everything they can. The club can then be rehabilitated.

“But if you have all these claims floating around, where we don’t really know who is claiming assets and what they are, then it will continue for a longer period.”

While King is keen to save Rangers’ former operating company, he must also find ways of funding the Light Blues going forward as they continue on the road to recovery.

There are still plans to float Rangers International Football Club plc on the ISDX market but King played down the prospect of another share issue.

King said: “There are already the loans of over £4m put in by myself and the Three Bears, which were for working capital and financing that took the club through the period from the end of last season to the beginning of this season.

“Funds would no longer be required now because of season ticket sales, which are of levels above what we were budgeting on.

“Additional funding would only be required depending on transfer activity into probably the end of the first quarter of next season, so we are very comfortably funded for the next six months.

“Myself and the Three Bears have indicated to the board and to Mark (Warburton) that we will continue to fund on the basis we are doing.

“The season ticket cash is not enough to get us through to the end of this season. We know that.

“The deficit we had looked at the previous board meeting five weeks ago is now less, because the season ticket position is better than we expected and we’ve had a lot of walk-ups and full attendances.”