Jump to content

Dave King waiting on go-ahead from Gers.


RangersFanBase
 Share

Recommended Posts

Rangers will want to benefit from Dave King wealth, says Ally McCoist

• McCoist: 'Rangers are certainly looking for investment'

• Businessman King 'waiting to hear from club', say reports

Ally McCoist believes Rangers will want to make use of Dave King's wealth despite the former director of the old Ibrox club claiming he had not heard from the board since offering to invest last month.

The South Africa-based Glasgow businessman was quoted in the Scottish Daily Mail on Friday morning, stating he had received no contact from the chief executive, Graham Wallace, or the club's other directors in the past four weeks.

It was confirmed last Thursday that Wallace had asked McCoist's squad to consider a 15% pay cut in an attempt to stem losses reported to be as much as £1m a month.

The proposal was rejected by the players but King, who lost money when the company that owned Rangers was liquidated in 2012, says he is still ready to plough in more cash to ensure the League One leaders are able to put up a fight on their return to the Scottish Premiership. Despite their woes, the ruling Ibrox regime have yet to take up King's offer.

McCoist said: "The chief executive has said he is certainly looking for investment. I can't speak for Graham but, if there was a potential investor, Dave King or whoever, it's safe to say Graham would sit down and talk to them."

Revelations of Wallace's pay-cut offer have sparked fears McCoist may be forced to sell players to balance the books. He has held talks with Wallace but says there is "nothing concrete" to report on further cuts or player exits.

The manager backed Wallace, who promised to undertake a 120-day review of the company at the club's annual general meeting last month, while insisting he will do his best to ensure the quality of his squad is not diluted.

"Graham has been completely honest, open and frank in the discussions that we have had," McCoist said. "I'm aware of the financial difficulties in the club but it's only fair to give Graham his 120 days that he has asked for and I'm confident that Graham will be the man to take us forward.

"Rangers face Arbroath on Saturday in their final league match before the January transfer window closes. Unsurprisingly, McCoist is not expecting any new faces to arrive before then. He said: "It's not been 100% rubbished but I have been told it might be very difficult."

The striker Jon Daly insists the reason behind the Rangers squad's decision to reject the pay cut will not leave the dressing room. Daly was asked to explain why that decision had been reached but declined to detail the squad's thinking. "I don't think that is to be spoken about," he said. "Whatever happens in the changing room, whether it's to do with finances or to do with tactical decisions, stays in the dressing room. As far as I'm concerned, that's the way it is going to stay."

Link to post
Share on other sites

I can exclusively reveal why the players rejected the pay cuts.

They are greedy bastards.

As for Dave King, why would anyone be contacting him ?

If it was any other club and i was in their shoes I would not except a pay cut either. Its not the fault of the players that the club is not been run correctly
Link to post
Share on other sites

I've nothing against DK , in fact I'd welcome him IF he can work with the current board and not against them. I'm of the belief the more influential and wealthy businessmen , the better. The key is - they have to work together and not let egos get in their way.

The problem is will our investors want their shares diluted ? As much as the board get maligned , it's the investors who will have the final say. Hopefully they see that DK could give the value of their shares a boost that would offset that dilution .

It's not ideal , because Rangers won't get the benefit , but I wonder if it's worthwhile DK doing what the Easdales have done and buy an amount that gets him in the door , so to speak , maybe enough to have a say , while the price is so low. I think fans respect guys who put up instead of mouth up !

Link to post
Share on other sites

I can exclusively reveal why the players rejected the pay cuts.

They are greedy bastards.

As for Dave King, why would anyone be contacting him ?

Greedy bastards? You've got to be joking.

Because he might be willing to invest and we need investment.

Link to post
Share on other sites

Greedy bastards????????

Ha ha ha ha ha ha ha ha ha ha ha ha.........."....

Don't tell me - you're a Charles Green fan?

Ha ha ha ha ha ha ha ha ha ha ha ha ha

Oooozing out of him...... to be fair he didnt mention Mini,for the first time.????I want to know why.?

Link to post
Share on other sites

We need to be looking medium to long term.

Where do we want to be in 5 years? - Premier League Champions and in Champions League

What are the barriers to that? - lack of funds and quality throughout the squad for that challenge.

How do we resolve the barriers - find appropriate income streams.

The question around King is whether he is an appropriate income stream, so how much would he invest and what would he want for it.

Link to post
Share on other sites

We need to be looking medium to long term.

Where do we want to be in 5 years? - Premier League Champions and in Champions League

What are the barriers to that? - lack of funds and quality throughout the squad for that challenge.

How do we resolve the barriers - find appropriate income streams.

The question around King is whether he is an appropriate income stream, so how much would he invest and what would he want for it.

More than just finances.

We need a scouting set up, better youth development and a first team football coach who can develop these players and move the team forward significantly.

Link to post
Share on other sites

Imo, these are just games by Dave K; he cann't just invest in the playing aspects of the club. If he wants us to have money from him he has 4 options:

he can buy shares, but that money goes to the shareholders he buys them from, not the club.

he can gift money directly to the club but then he gets nothing financially in return

he can sponsor some aspect of the club; which i doubt is a real option as he seems to want power

he can buy shares as part of a new share issue, but there is no chance of this is the short term.

as i say, i think he is just playing games, and maybe trying to help his old pal Ally.

Link to post
Share on other sites

I can exclusively reveal why the players rejected the pay cuts.

They are greedy bastards.

As for Dave King, why would anyone be contacting him ?

Greedy bastards is a bit stong but I'm sure we would all agree the vast majority of them are overpaid for this level.
Link to post
Share on other sites

Imo, these are just games by Dave K; he cann't just invest in the playing aspects of the club. If he wants us to have money from him he has 4 options:

he can buy shares, but that money goes to the shareholders he buys them from, not the club.

he can gift money directly to the club but then he gets nothing financially in return

he can sponsor some aspect of the club; which i doubt is a real option as he seems to want power

he can buy shares as part of a new share issue, but there is no chance of this is the short term.

as i say, i think he is just playing games, and maybe trying to help his old pal Ally.

didn't know Aly was Dave King's pal

what makes you think there won't be a new share issue.....................how else do you think they're going to raise the money ?

Link to post
Share on other sites

didn't know Aly was Dave King's pal

what makes you think there won't be a new share issue.....................how else do you think they're going to raise the money ?

back from when DK was a director before; seen it reported lots of times that they were good friends (if the reporting is wrong then so am I and i apologise)

the owners of the company have to agree to do this; at least some of them paid more than the current share price for their shares so they are already looking at a short term loss. if they keep the share holding undiluted then they will recover that loss as the price creeps back up. if they issue more shares then what they have becomes worth less so their current loss becomes greater. share offerings cost money to arrange and just issuing shares is not enough, there have to be enough people / institutions willing to buy them. A good investment given our potential, but potential investors will have looked at how the IPO money was spent and maybe be a little wary about buying more. The company also cannot just issue shares at 70 pence again while the current shares are less than 30p, so they would have to sell ~twice the number of shares as before to make the same amount of money.

it may well happen. but not, in my opinion, for at least another 12 months.

again, in my opinion, to increase money into the club we have to focus on increased sponsorship in the short - medium term while cutting costs where its is reasonable and practical (remembering that many of our costs are fixed). match day revenue can be increased slightly, as can the cost of season tickets, but not hugely (10% ?).

Link to post
Share on other sites

back from when DK was a director before; seen it reported lots of times that they were good friends (if the reporting is wrong then so am I and i apologise)

the owners of the company have to agree to do this; at least some of them paid more than the current share price for their shares so they are already looking at a short term loss. if they keep the share holding undiluted then they will recover that loss as the price creeps back up. if they issue more shares then what they have becomes worth less so their current loss becomes greater. share offerings cost money to arrange and just issuing shares is not enough, there have to be enough people / institutions willing to buy them. A good investment given our potential, but potential investors will have looked at how the IPO money was spent and maybe be a little wary about buying more. The company also cannot just issue shares at 70 pence again while the current shares are less than 30p, so they would have to sell ~twice the number of shares as before to make the same amount of money.

it may well happen. but not, in my opinion, for at least another 12 months.

again, in my opinion, to increase money into the club we have to focus on increased sponsorship in the short - medium term while cutting costs where its is reasonable and practical (remembering that many of our costs are fixed). match day revenue can be increased slightly, as can the cost of season tickets, but not hugely (10% ?).

I expect ST to raise between 15 -20 % next season
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...