Dave King to Invest?

[LeeWallaceRFC 3,920]

Dave King has revealed plans to plough fresh cash into Rangers — just months after seeing a previous investment of £20million go down the drain.

The former Ibrox director won a six-year court battle with the South African Revenue Service to have a freeze on his British assets revoked last week, leaving the Johannesburg-based businessman free to invest in the UK.

And, despite the continuing fight to clear his name on 322 charges of tax evasion in South Africa, Glasgow-born King has set his sights on a return to the Ibrox boardroom, insisting there are now no issues over his ‘fit and proper’ person status.

His lingering concerns over chief executive Charles Green’s profit-based business plan mean the 57-year-old will sit out the current £20m share issue. Impressed by Walter Smith’s recruitment to the Ibrox board, however, King says he is almost ready to talk,

telling Sportsmail: ‘I am certainly inclined to invest in Rangers again. I lost £20m through Rangers but I can absolutely see a scenario where I would like to return to the Rangers boardroom one day soon.

‘Any substantial investment I made in the club would incorporate that caveat. If I was going to come in with substantial sums of money then I would expect to be on the board as well.

‘I still have some concerns about the business model adopted by Charles Green. But investing in Rangers is a situation I would like to look at again towards the end of this season.

‘Clearly Charles Green might have something to say about that. And the time is not now for me to come back because Charles has a business plan which I don’t quite agree with.

‘But I would regard myself as a potential investor going forward.

‘As Rangers progress through the leagues they will need another type of investor.

‘The reality is that once Rangers are back in the Premier League, fans will expect them to automatically start challenging for the title and start competing in Europe again — which is what we all want.

‘But that will require extra capital in a couple of years’ time. And it will be then that people like myself will come into the equation. Because I would be willing to put money into the club on a non-profit basis.’

King put £20m into Rangers during David Murray’s tenure and lost every penny when the oldco club was plunged towards financial oblivion by former owner Craig Whyte.

Concerns over Green’s profit motive prompted his brief dalliance with the Blue Knights takeover group in the summer, as former manager Smith was fronting another splinter group funded by businessman Jim McColl.

Impressed by Green’s ability to bring Smith on side, however, King’s stance towards the current regime has softened.

‘All credit to Charles for being able to do that,’ he said. ‘It’s a great thing because it says that Charles must be getting the club going in the right direction.’

King was also deterred from investing in Green’s Sevco consortium by a restraining order imposed by the Crown Office on behalf of SARS.

Before having the order lifted, however, King also had 37 counts of fraud and racketeering dropped in his adopted land and insists there are now no impediments to an Ibrox return.

‘I wrote to the SFA at the end of last year when I was looking to be involved in one of the consortiums, telling them of the allegations against me and asking if this might cloud their judgment in terms of my ability to be a fit and proper person at Rangers?

‘Their response was that because it was only allegations they would take representations from my legal team and if they could convince them I had a strong case then there would be no issue.

‘Now that has gone away. My assets have been freed and it’s just not an issue any more.’

http://www.dailymail.co.uk/sport/football/article-2234195/Dave-King-invest-Rangers.html

[ScottBF2 3,540]

Give us your money, thanks.

[Gerwelly 115]

Here tis

Dave King has revealed plans to plough fresh cash into Rangers — just months after seeing a previous investment of £20 million go down the drain.

The former Ibrox director won a six-year court battle with the South African Revenue Service to have a freeze on his British assets revoked last week, leaving the Johannesburg-based businessman free to invest in the UK.

And, despite the continuing fight to clear his name on 322 charges of tax evasion in South Africa, Glasgow-born King has set his sights on a return to the Ibrox boardroom, insisting there are now no issues over his ‘fit and proper’ person

His lingering concerns over chief executive Charles Green’s profit-based business plan mean the 57-year-old will sit out the current £20m share issue. Impressed by Walter Smith’s recruitment to the Ibrox board, however, King says he is almost ready to talk, telling Sportsmail: ‘I am certainly inclined to invest in Rangers again. I lost £20m through Rangers but I can absolutely see a scenario where I would like to return to the Rangers boardroom one day soon.

‘Any substantial investment I made in the club would incorporate that caveat. If I was going to come in with substantial sums of money then I would expect to be on the board as well.

‘I still have some concerns about the business model adopted by Charles Green. But investing in Rangers is a situation I would like to look at again towards the end of this season.

‘Clearly Charles Green might have something to say about that. And the time is not now for me to come back because Charles has a business plan which I don’t quite agree with.

‘But I would regard myself as a potential investor going forward.

‘As Rangers progress through the leagues they will need another type of investor.

‘The reality is that once Rangers are back in the Premier League, fans will expect them to automatically start challenging for the title and start competing in Europe again — which is what we all want.

‘But that will require extra capital in a couple of years’ time. And it will be then that people like myself will come into the equation. Because I would be willing to put money into the club on a non-profit basis.’

King put £20m into Rangers during David Murray’s tenure and lost every penny when the oldco club was plunged towards financial oblivion by former owner Craig Whyte.

Concerns over Green’s profit motive prompted his brief dalliance with the Blue Knights takeover group in the summer, as former manager Smith was fronting another splinter group funded by businessman Jim McColl.

Impressed by Green’s ability to bring Smith on side, however, King’s stance towards the current regime has softened.

‘All credit to Charles for being able to do that,’ he said. ‘It’s a great thing because it says that Charles must be getting the club going in the right direction.’

King was also deterred from investing in Green’s Sevco consortium by a restraining order imposed by the Crown Office on behalf of SARS.

Before having the order lifted, however, King also had 37 counts of fraud and racketeering dropped in his adopted land and insists there are now no impediments to an Ibrox return.

‘I wrote to the SFA at the end of last year when I was looking to be involved in one of the consortiums, telling them of the allegations against me and asking if this might cloud their judgment in terms of my ability to be a fit and proper person at Rangers?

‘Their response was that because it was only allegations they would take representations from my legal team and if they could convince them I had a strong case then there would be no issue.

‘Now that has gone away. My assets have been freed and it’s just not an issue any more.’

[californiadreamin52 339]

http://www.dailymail.co.uk/sport/football/article-2234195/Dave-King-invest-Rangers.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490&utm_source=twitterfeed&utm_medium=twitter

I lost £20m through Rangers but I can absolutely see a scenario where I would like to return to the Rangers boardroom one day soon.

‘Any substantial investment I made in the club would incorporate that caveat. If I was going to come in with substantial sums of money then I would expect to be on the board as well.

‘I still have some concerns about the business model adopted by Charles Green. But investing in Rangers is a situation I would like to look at again towards the end of this season.

‘Clearly Charles Green might have something to say about that. And the time is not now for me to come back because Charles has a business plan which I don’t quite agree with.

‘But I would regard myself as a potential investor going forward.

[allanh91 75]

Personal feelings are I don't want ANY of the old regime involved with Charles Green in any way, unless they had a direct impact on the football, e.g Smith, Souness.

[boss 1,941]

Bye, Dave.

[simplythebest 11,453]

I'd love to know what his 'business plan' is.

[LeeWallaceRFC 3,920]

http://forum.rangersmedia.co.uk/index.php?showtopic=242112

[El Carpintero 546]

Quite big headed and almost glory huntery. In saying that, we are in no position to say no to anyones money, nor do i think Charles Green would. It will be very welcome when or if he does eventually invest because fans will be demanding we stop Celtics domination and that will take money.

[nvager 498]

He will need to make up with CG first in any event. Dubious character, but may end up good for Rangers.

[El Carpintero 546]

I'd love to know what his 'business plan' is.

I would like to know what Dave doesn't agree with about Charlies tbh.

[54andcounting 627]

Would hope we have moved on from people like him!

[bluenose1975 1,287]

I would like to know what Dave doesn't agree with about Charlies tbh.

i think its to do with the plan to "make money from rangers"............if i remember correctly im sure he said that investors would need to lose money for maybe 2/3 years to restore us, maybe thats all it is? he states in his comments in the piece that he can see himself reinvesting on a non profit basis...............cant believe the guys getting a hard time, he injected £20m, lost the lot, yet wants to reinvest, if i was a rich fan, id probably do likewise?

[trueblue68 2,497]

No Dave

[stuart54 218]

I've always liked Dave King.

He's definately not involved with Rangers to make money - he has fcukin plenty already.

As he said, when we get back to the top league we'll need investment and I don't think Charles will knock back the sort of money King could bring to the table.

[El Carpintero 546]

i think its to do with the plan to "make money from rangers"............if i remember correctly im sure he said that investors would need to lose money for maybe 2/3 years to restore us, maybe thats all it is? he states in his comments in the piece that he can see himself reinvesting on a non profit basis...............cant believe the guys getting a hard time, he injected £20m, lost the lot, yet wants to reinvest, if i was a rich fan, id probably do likewise?

Thanks mate, you might be right, i also agree you about King, we are no position whatsoever to knock back investment and i, like you, if i had it, would give without wanting any return.

[OLE SUPER WILBERT 2,475]

No thanks.

[jack1690 793]

I've always liked Dave King.

He's definately not involved with Rangers to make money - he has fcukin plenty already.

As he said, when we get back to the top league we'll need investment and I don't think Charles will knock back the sort of money King could bring to the table.

Agree with this post

[ForeverBlue1872 463]

He won that long court battle, surely he has money to invest into Rangers now, I don't think we can go about knocking back peoples money.

[KingKirk 25,647]

Welcome dave now less talk more action, is what chaz should say to him.

[GMac 1,405]

And, despite the continuing fight to clear his name on 322 charges of tax evasion in South Africa

Amateur.

[Thermopylae 15,286]

It does have to be said no one has ever came close to his old investment of £20 million so he does come across as a serious investor

[GMac 1,405]

Everyone hates us anyway so fuck it. Take the guys money. Gives the taigs something to talk about, bring in a few more naughty boys and there will be no one at the piggery, they'll be to busy checking Companies house records, tax laws and all sorts of legal stuff.

[Redwhiteandblue 3,330]

Why are people saying no to Dave King?

He's one of us ffs!

He's the only rich Rangers fan out there willing to spend money on Rangers. Notice how I said ''spend'' not invest.

He is the exact type of person we need going forward, especially if the money he puts in is in the form of naming rights, sponsorship etc.. To fit in with the FFP rules that are coming in.

[MCLACHLAN1 49]

Aye. Slag the guy. He only gave £20 mil with no return.