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Dave King Q&A


scarkev
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http://www.eveningtimes.co.uk/rangers/rangers-dave-king-qa-157010n.23786704

I really hope the SofS, RST, chris graham and the more vocal on here take heed of Dave kings response to the first question in the above Q&A.....says it all for me.

Edit - I know some people avoid the boardroom section like the plague so thought it was worth sharing this here.....definitely worth a read, straight from kings mouth, minus the spin the other rags are using.

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http://www.eveningtimes.co.uk/rangers/rangers-dave-king-qa-157010n.23786704

I really hope the SofS, RST, chris graham and the more vocal on here take heed of Dave kings response to the first question in the above Q&A.....says it all for me.

Edit - I know some people avoid the boardroom section like the plague so thought it was worth sharing this here.....definitely worth a read, straight from kings mouth, minus the spin the other rags are using.

Yep thanks for reposting - he seems to talk sense and as you say it's been well misinterpreted by the media ( quelle surprise)

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Yep thanks for reposting - he seems to talk sense and as you say it's been well misinterpreted by the media ( quelle surprise)

The media interpretation was always going to happen but it's the deliberate misinterpretation from fans that bothers me. King is very clear in this Q&A that he does not endorse withholding if season ticket money and wants to work with, not against the board. Hopefully this is a significant point that allows us to move forward from here.

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Good interview, his love and passion for the club shines throu

A second share issue is now on the horizon, start saving bears,

If Dave King told the board he wanted 30 million worth of shares then that is great news.

Let's hope it gets sorted soon, but one thing Dave King seems to grasp that the board don't, is that one man or a group of men are not bigger than the club.

We the supporters who turn up week in week out it are the club, we have proved over the last 2 seasons with the amount of season tickets sold.

This needs to be sorted out before May or June so it gets the fans United over this full affair and put a line under it. Next May we will be back were we belong and with Dave on board we have nothing to fear.

I would love the fans to snap up 40,000 books going into the championship, imagine the message that sends to our enemy's who we will be playing week in week out.

The old league is gone, but our hatred towards certain clubs( and there are a few) has increased 10 fold.

Never ever forget what those bastards stood by and did nothing but rob us blind.

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Though I am glad he has came out with this, I am still cautious over anything he has to say, he has caused discord by bleating to the press in the past and in those press releases he has clearly been quoted so it's difficult how he can now say he has been misinterpreted when the words were his.

None of this would have happened and only has because of his actions whereas he should have held his meetings with the board first before coming out with any comments.

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Reading between the lines, I think he may have been mislead to the plight of the Club by certain fans and groups.

He seems more positive towards the board, even if the threat of withholding season ticket money is only temporarily suspended, pending future developments.

Circumstances do appear to be better than some had suspected.

Dave King, who has made his millions in South Africa, has signalled his intention to keep up the battle for control of Rangers.

But he has told fans to be patient as they wait for the business plan at Rangers to be unveiled by the board next month. He believes some supporters are looking for a fight, but he just wants a resolution to the crisis that has engulfed the club.

He gave his views in an interview with SportTimes…

There was a strand of opinion that said you were in danger of stepping away after the last interaction with the board?

I do not understand the view that I would be stepping away. I think it is the view of some of the supporters that they are looking for a fight. My preference is not to fight. If the board are saying we are considering what you are saying and it is our ambition to follow the lines you are suggesting - competing with Celtic etc and we will fund it - then that will be great. But they must show that in the business review. Unfortunately, it was reinforced to me in my visit to Scotland that there are a lot of people who are so emotional about this that they almost don't want the board to say everything is okay. They are just ready for the fight. It is a pity if there are people who want to fight no matter what but we must give the board time to come out with the review.

How advanced are the plans over a trust for season ticket money?

I have not been involved in those plans. All I have said to them (the fans' groups) is that while I think it is a very, very big ask to say to Rangers fans, 'please withhold your season ticket money" it may become necessary.

Can you put a figure on what it would take in cash terms to get Rangers back to the top of Scottish football?

I think the minimum - if we get lucky - is £30m and we will probably need £50m. That would be to compete with Celtic. The Rangers strategy should be a simple thing and I have discussed this with institutions. It is this: every year we have to compete with Celtic. Nine-in-row is terrible for Celtic and nine-in-a-row is terrible for Rangers. It is good for the fans, but bad for business.

I think if I was to speak with Dermot Desmond (largest single shareholder in Celtic) and asked him if he was happy with what is going on, he would say: 'No'. It is bad business for Celtic, it is bad business for the Scottish co-efficent in terms of Europe.

You cannot just buy the shares?

I could go in and buy up the shares, but the problem is that the amount of money I spend on buying up the shares does not go into the club, it goes into the pockets of those selling the shares. I do not want to buy the shares and own a club that has no money. I think a rights issue is the right way to go about it.

How much are you personally willing to put it?

I think the club needs £30m-£50m over the next five years and I am willing to share the shortfall as to what I get from other people. I would like as much as possible from other people.

But you could end up with the thick end of £50m to find?

Sure. It doesn't faze me because, to me, Rangers is about spending money, not making money. It is about investing in a club that I have a historical passion for. I am desperately unhappy about where they are at this point in time and want to see them back to where they belong.

How much would £50m, say, constitute of your personal wealth?

I would not invest money that would cause an inconvenience to my family. For me, investing in Rangers is about the passion for the club. I am very, very accepting of the fact that whatever I put into the club I could never see again. I have already put in 20 (million) and I am willing to lose more.

What personally drives you to save Rangers?

It is about a tradition of the club. Obviously, you have John Greig, who epitomises everything about Rangers, you have Colin Stein and I saw him score his first hat-trick for the club, and there is Alex MacDonald, Sandy Jardine. I first watched Ritchie, Shearer, Caldow ... but to me it is not about individuals. It is about something I grew up with. It is a community club and to me it is an absolute tragedy that the club finds itself in a situation through circumstances that are outwith the remit of the biggest shareholder, namely the fan.

What are your chances of success?

I will be very surprised if that, through the efforts of myself and other people, Rangers do not come through this in a healthy way and ultimately get back to where we all think they should belong.

How near are Rangers to hitting the buffers again?

I think not that close at all. There is a business plan among Rangers directors and shareholders - who are not Rangers fans at the moment - that they can take £20m in and put £19m out and they will make a profit. We would not recognise that Rangers as the way they should be. My view is that we make a step change, in that we invest ahead of the income. You cannot compete against Celtic unless you match their cost structure.

What do the fans need now?

WE need resilience. To me, going out there feeling I need to beat people up every day is not the way to succeed. The Rangers situation will only change in the boardroom. You can have your protests - and they are important in the sense that fans are giving a demonstration of how they feel - but ultimately where we are now is a boardroom issue that requires patience. We need resilience, we need patience and, ultimately, we will come out of it.

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Reading between the lines, I think he may have been mislead to the plight of the Club by certain fans and groups.

He seems more positive towards the board, even if the threat of withholding season ticket money is only temporarily suspended, pending future developments.

Circumstances do appear to be better than some had suspected.

That comes across loud and clear. It reminds me of the exact same situation as Jim McColl who soon realised any good work he was trying to do was being pounced upon by idiots. (tu)

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So if we have a second share issue I take it the original shareholders from the first one will have theirs diluted?

Only in %age ownership. I would hope that a second round of investment puting the club on more solid footing would stabilise and probably increase the share price. You dont lose volume of shares, only %age ownership. (tu)

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That comes across loud and clear. It reminds me of the exact same situation as Jim McColl who soon realised any good work he was trying to do was being pounced upon by idiots. (tu)

McColl went up in my estimations by walking away...
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Only in %age ownership. I would hope that a second round of investment puting the club on more solid footing would stabilise and probably increase the share price. You dont lose volume of shares, only %age ownership. (tu)

Cheers mate. Not that I would ever sell but just wanted to know if I would end up with less shares.

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Though I am glad he has came out with this, I am still cautious over anything he has to say, he has caused discord by bleating to the press in the past and in those press releases he has clearly been quoted so it's difficult how he can now say he has been misinterpreted when the words were his.

None of this would have happened and only has because of his actions whereas he should have held his meetings with the board first before coming out with any comments.

I'm very wary too, listening to fools' leads to foolish actions', and your post agrees with my sentiment. I don't have a problem with DK, but as you say, he could have went about the business a bit more professionally and classy. he didn't, first time, so this is better.

:7325:

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I like a lot of what he says but there's one fundamental thing in that that alarmed me

"Rangers are about spending money not making money"

That's alarming and it's what got us in this mess in the first place - we can't think like this

When we are back at the top and ready to compete with Celtic sure we need money and investment but not with that extreme ethos

To flip it the best and most eye catching thing he says is "some people almost don't want the board to tell them it's alright as they just want a fight"

How true is that - well said

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We need a squad that will compete with ra Sellick at the earliest opportunity. That's going to take serious activity in the transfer market. DK has stated around 50m, fair enough if that money can be raised. It's loud and clear that ra Sellick are scooping up this champions league money and squirrelling it away 'for a rainy day'. So I anticipate they Mhanks to be more active and spending more when we are back I order to keep us at bay.

We need serious money, that's clear. The big question is has GW got alternative funders or is DK the only real show in town.

Bring on April 18th.

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Can you put a figure on what it would take in cash terms to get Rangers back to the top of Scottish football?

I think the minimum - if we get lucky - is £30m and we will probably need £50m. That would be to compete with Celtic

This quote scares the hell out of me.

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