Keep season ticket money, King tells Rangers fans
King, who sank £20million of his own money into the old Rangers company when Sir David Murray was chairman, has become frustrated with what he termed the “opacity” of the present board. He said that, unless the board was more open about the state of the club’s finances, supporters should consider putting their season-ticket money into a trust which would only release funds to the club once certain conditions were met.
“My assessment is that the business is not commercially sustainable in the short term and hence requires a level of soft investment,” he said. “The board is focusing on right-sizing the business, ie cutting costs to match the income. It is correct that any club must, over the long term, operate within its means, but, in the short term, Rangers needs a significant once-off financial boost that cannot be met from the current revenue stream. Without this we will not get back to where we should be.
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