Rangers boss McCoist welcomes Dave King approach

Rangers manager Ally McCoist and Dave King pictured after meeting with the club's administrators in 2012. Picture: SNS

Chief executive Craig Mather this week held talks with the South Africa-based businessman about possible reinvestment in the Light Blues.

Former director King invested heavily in Rangers during Sir David Murray’s stewardship and is reported to have lost £20million when the club went into administration in 2012.

Having settled a long-running tax dispute with the South African authorities, the Glasgow-born tycoon would be free to invest in Rangers again - a move which would be welcomed by McCoist.

He said: “I believe the board deserve credit for making such an effort to attract someone like Dave King back to the club.

“I think this is a clear message that they are trying to do their best for Rangers.

“Someone like Dave King has already invested vast sums of his own money into Rangers and that tells me he’s the kind of investor we need at this club again.”

Concerns were raised over the finances of the club when annual accounts published last week showed an operating loss of £14.4million for the 13-month period until the end of June.

McCoist added: “The recent accounts have been well documented and the fact of the matter is we will need reinvestment at some stage in the future.

“If we are going to get reinvestment then it would be good to get it from someone who has definitely got the best interests of the club at heart.

“Dave King has and clearly the board also believe that to be the case.

“From my point of view, the fact that a member of the current board has flown to South Africa for talks would indicate they also feel it would be hugely beneficial to have Dave back on board. It can only be a good thing for Rangers.

“The board have a difficult and important job to do and it is encouraging to think we are talking to someone who could help move the club forward.

“I think it would be a great thing for us all.”