DAVE KING will consider his options before deciding if he wishes to challenge a Takeover Appeal Board verdict regarding his rise to power at Ibrox.

It was ruled earlier this month that King breached City regulations by acting ‘in concert’ with the Three Bears consortium to acquire a controlling stake in Rangers two years ago.

The TAB have ordered the South Africa-based businessman to make an offer of 20p per share to remaining investors, including the likes of Sports Direct chief Mike Ashley and former directors James and Sandy Easdale.

King has reaffirmed his belief that no one individual should own the Light Blues going forward and will hold talks with supporters groups to see if they could increase their shareholding.

He said: “The way it works is I would have to make an offer and there would have to be more than 50 per cent acceptance of that offer, which means Mike Ashley would have to accept, the Easdales would have to accept, Club 1872 would have to accept.

“I think the chance of it being accepted is really remote. I think it is pretty much a non-issue but I just have to think what I want to do about it.

“My view to them was a very simple one. There was a consortium. That consortium was myself and the supporters.

“I worked on a daily basis with Chris Graham running spreadsheets. I worked with a whole bunch of supporters.

“They were updating lists and sending me spreadsheets, sometimes 15 times a day. I worked with them.

“It so happens that Douglas Park, George Letham – who I’d never met at the time – and George Taylor – who I’d also never met – came in as individual investors with more money.

“My argument was there was a consortium. But it was myself and the supporters really. It was certainly never myself and Douglas Park or George Letham.

“So I argued technically that the real consortium was myself and the supporters.

“That remains my argument. Their findings are different and I have to decide whether to appeal it or not.”