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King ? pissin' on the feel good factor, now we might win something worthy.


bawsburst
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As title just when things could be looking up the scum rains on our parade via King regurgitating old news..

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DAVE KING has revealed he's had no contact with Rangers despite repeated offers to invest in the crisis-torn club.

Tycoon King also warned Gers cash reserves are now at a critical level? with the Ibrox board in a desperate race to secure funding.

Two months after revealing to SunSport he would be prepared to re-invest in Rangers, King confirmed there has been no approach.

He said: As a fan I am very concerned about the lack of a transparent funding plan to communicate to the fans prior to requesting them to renew season ticket sales.

There is not much time for the board to give assurances in that regard.?

Johannesburg-based King, 52, is still willing to plough his cash into Gers, but admits he can't force chief executive Graham Wallace to take his money.

Without investment, Rangers are expected to run out of cash next month. Asked if he had held talks with Wallace or had plans to meet the Ibrox CEO, King added: No. Mr Wallace has no obligation to approach me.

The board may secure funding from other sources.

It's King's understanding Wallace is close to completing a formulated business plan designed to drive Gers forward.

But King believes a new share issue is likely. He said: I recognised from my visit last November that the board needed to get the AGM behind them, and then to focus on operational issues and putting a proper funding plan in place.

My understanding is this is either complete or nearly complete.

Rangers need funding and debt funding cannot be a viable long term option to meet the club's on-going needs. In my opinion a new round of equity funding remains inevitable.

King has urged Wallace to make his plans known to the long-suffering Ibrox support as soon as possible.

He stressed: If a sensible business and financial plan has been completed then Rangers may have gone forward, but there has been no communication of this at present.

Clearly, the passage of time since the AGM has reduced the cash reserves to a critical level.?

It's understood Wallace and Gers? finance director Philip Nash have been on several trips to London in a bid to secure potential investors.

But after £22 million was wiped from the club's initial IPO last year, the city remain sceptical.

King warned: City investors will not have an appetite unless they are happy with the business plan and the funding plan, as well as the quality of the underlying assets.

I would imagine Craig Whyte's rumblings will also be a factor as city investors don't like legal risk or contingent liabilities.

Personally, I think Whyte has zero chance of advancing his position successfully.

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Who wouldve guessed the the media would come up with a negative story after a week end of positivity for Rangers.

They should change the record and print what a failure their habitual bottlers scum team and manager has been for the last 2 yrs.

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Attacks on Dave King by the board plants

there's a surprise

Should we all be grateful to a minted fan for giving interviews to the gutter press saying how much trouble we're in while refusing to invest a single penny?

King and the Murrays must have been furious at this weekend's results.

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Attacks on Dave King by the board plants

there's a surprise

I admired King at one time, because he supported us as a punter and as a money man. I am sorry to say that has all gone now. He has done nothing but stir up trouble, continually saying we will be in admin next week, next month, whenever. I first saw Rangers as a 10 year old in 1947, I have suported them and put my money into them most of my life. I am not for Dave King, or anti him, but I will say to him. Shut up or put up! So I am not am board plant, I am what is called a Rangers Supporter!!!

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Celtic have another bad day (weekend) at the office, and come Monday morning some arsehole has maybe gave another interview and deflected the spotlight from them again, and all the bears start arguing amongst themselves. Instead of celebrating a great weekend, the press have form with this, (Barcalona hump them, Brown's maw gets punched in the stand when he got sent off, and front headline news next day is a guy holding a knife to his telly)

and it's time we got our heads together as one and ignore the fuckers. Dont buy the papers.

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what is the clubs plans? Are we still trying to formulate one? wouldnt it be wise to bring king in either way? dont understand the hesitation

How about giving GW the time to look at his entire plan and then publish it before we go running to King for a hand out.

Anyway, a suspicious person would think something bad happened with the dark side at the weekend for this non-story to come out today. We are sure to go into admin two rejecting transfer offers and free money like this...

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Two things - Rangers will not run out of money. Why would the Easdales, Laxey et al let that happen? If the club needed a short term cash boost they would surely inject some. Otherwise their investments dwindles in front of their eyes. Also, there's now the real prospect of a big quarter final gate, not to mention semi AND (hopefully) a final with a winner's cash prize. Money Graham Wallace couldn't have budgeted for.

It's becoming increasingly obvious that King is on the outside looking in because he has a different outlook for Rangers. His presence on the board would, I guess, compromise others such as the Easdales. It's becoming apparent to me that Rangers are looking for investment from a number of people rather than a Dave King. I hope this is right decision because they must have the club's interests at heart which DK undoubtedly has. I think it's a bit unfair at this point to slate King. He has already put a lot of money into Rangers and is willing to put more, which is of course very reassuring. AND remember, because some have forgotten, he couldn't buy the club 18 months ago because his assets were tied up with SARS leaving him a helpless bystander. ( I just know some posts below will ignore this and tell King to fuck off but it's true)

Personally, I hope the present major shareholders and King can agree something but as time gies by it's becoming increasing clear they don't want him for whatever reason.

Stay vigilant Bears - it does no harm.

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