King Tells Rangers Board To Go

5 February 2015, 06:40

Dave King has told Rangers chairman David Somers and the rest of his board their time is up.

The former oldco director has called a general meeting to oust the current board, and has no doubt about the result.

Somers has until Friday to confirm the shareholder session, which must then take place within three weeks - making February 27 a potentially decisive date for Rangers.

The meeting will cost around £250,000 to stage but club NOMAD Paul Shackleton has already attempted to broker a peace deal which will save the club the expense.

At a press conference in Glasgow city centre where King was joined by former Blue Knight Paul Murray and ex-brewery boss John Gilligan - who all hope to be appointed as the board's replacements - the South Africa-based businessman revealed he rejected that offer after being told it would mean saving some of the current directors from being axed.

Instead, he told Somers, James Easdale, Derek Llambias and Barry Leach the game is up after insisting his group - backed by the Three Bears - had already secured 51 per cent of the vote.

Castlemilk-born King said: "It must be as clear to them as it is to me that the outcome of the general meeting is guaranteed once it is called. The game is over.

"We should be 23 days away (from clinching victory). The meeting should be called on Friday if the board takes the maximum time possible.

"I've had no indication from the board there is any difficulty with the requisition. They have had three weeks to look at it, so I'm assuming if they call the meeting on Friday and if it runs in 21 days then I will be back here in three weeks' time.''

He added: "This is the end for this board. If somehow we did lose it, I'd just go into the market place, buy another five per cent and do it again.

"But that won't be necessary because the deal is done.''

But King, who lost £20million when Rangers were liquidated, hinted he may be willing to work with Mike Ashley.

The Newcastle owner and Sports Direct founder has loaned the Glasgow giants £10million but tightened his grasp on the club's commercial division.

"I don't think it is a question of driving Mike Ashley out,'' said King. "He's a shareholder and I don't get any sense he's going to sell.

"What's more important is that we have a board with the influence, desire and financial capability to take the club forward. Whether that's with Mike Ashley or without him, personally I'm quite indifferent to that.

"I think he can be (an asset for Rangers). He's obviously a very wealthy guy and has shown a capacity to put money into the football club.

"He has a business which is closely aligned to the activities of the football club.

"If there was a way to work with him to create value and that value was appropriately shared between the football club and Sports Direct then I wouldn't see any difficulty with that.''

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