Rangers liquidation: Club need donations to go forward, says Dave King

FORMER Rangers director Dave King believes the club needs generous donations on a non-commercial basis to move forward and can not rely on ticket revenue to climb out of their predicament.

On his arrival at Glasgow airport yesterday ahead of talks with new chief Charles Green at Ibrox, King told a number of television crews: “I really don’t believe Rangers represents a financial opportunity for anyone other than an asset stripper.

“There is only one way forward for the club and that is that the club needs a level of funds which is way beyond the ability of the fans to support with season tickets.

“There is a structured financial deficit and unless the club gets access to funders who are willing to put money in on a non-commercial basis, I think for at least three years, then I don’t think the club will go forward.”

King, the second-largest shareholder of the soon-to-be liquidated Rangers Football club plc after former owner Craig Whyte, requested a meeting with Green and he later was pictured arriving at Ibrox.

He is also set to meet with members of a Walter Smith-led consortium, who made a dramatic 11th-hour bid for the club on Thursday and have since urged a quick sale by the new owners. King has not committed himself to putting money in, but, when asked if the best way forward for the club would be under Smith’s consortium, who held a preliminary meeting with the current owners through a third party on Sunday, he said: “I would think so, because my understanding from [new chief executive] Mr [Charles] Green is that he sees this as being a financial opportunity.”

Asked whether he would consider investing in any takeover, King added: “I’m able to do it, it’s just a case of making sure what makes most sense for the club.