Rangers Jim Gillespie Dave King John Bennett updateDave King remains the largest shareholder at Ibrox.
Rangers investment verdict issued as full takeover called for at Ibrox amid Far East interest
Rangers investment needs to address the fractured ownership situation at Ibrox which is currently holding the club back, agree Peter Martin and Tam McManus.
The pair discussed the situation on PLZ Soccer (23 September) after interim chairman John Gilligan’s press conference earlier in the day, in his first public comments since replacing John Bennett, with host Martin insisting a complete takeover by a single entity is the way forward.
Ex-Hibs forward McManus agreed and dismissed the chances of former chair Dave King getting back in as a result.
Martin said (14m): “I still maintain if the suggestion is they are looking towards a Far East investor Rangers needs to be taken over by one group or one person who is the leader, who calls the shots, to take away this situation where you have four or five people looking to take the reins. I think it holds Rangers back.”
McManus agreed: “Yeah it does, and John’s spoken there about Dave King who’s been pretty vocal about wanting to come back and get involved with Rangers again. I don’t think John and the board are particularly wanting that…
“You’re right, it remains to be seen who’s going to come in and invest, there’s rumours of Far East and different things. That’s going to be key. Who’s going to invest and is the money going to be used properly?”
John Gilligan responds to Dave King in first Rangers comments
It’s hard to argue that even if every individual has the best will in the world the in-fighting at the top at Ibrox isn’t going to beneficial to the operation as a whole.
Gilligan urged King to “behave like a proper shareholder”, with the South Africa-based businessman still the largest at the club, when speaking to the media [BBC Sport, 23 September].
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King has been highly critical of the Gers board in the wake of Bennett’s resignation on health grounds, while talking up his plan to capitalised on investment interest from Saudi Arabia and the USA if he comes back in for two years [Rangers Review, 15 September].
If a full takeover was on the cards it would be all the more vital the club was sold to the right buyer since there would be no-one to temper any poor decisions.
Foreign investment will look all the more attractive at Ibrox currently when the financial gap to Celtic is widening year on year.
But there have been enough examples of big European clubs struggling mightily when taken over by investment groups from the US or from Asia that great care will have to be taken in assessing any offers that come forward.
In other Rangers news, the Light Blues are predicted to have a “top drawer” star of the future on their hands now.
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