Originally published at: https://www.rangersnews.uk/news/confusion-reigns-at-rangers-after-contradictory-finance-comments/
Whilst clubs across the country discuss the financial implications of the domestic league shutdown, confusion reigns at Rangers as the club prepare for a dramatic overhaul at the top. Dave King announced his intention to step down from Ibrox in an emotional farewell at the club’s most recent AGM in November. The South African-based businessman…
Its simple, they are talking about two different things . The investment announced at the AGM was by the current directors to cover operating costs shortfall .King is talking about the investment from new investors which would require a share issue , which would be very difficult to arrange at the moment.
I thought he would have stayed o in these trying times , yes he has put money in , but in reality do we really know how much , I’ve checked and he has put in less than the rest. It looks like he is jumping ship tbh. The company is in over 25m in debt at least and needs a minimum of 10m as of november 2019, and now with the uncertainty king leaves , with the facts that we have no insurance to cover which is down to him as chairman and him alone, it looks like we need to cut ,cut and cut even more as our club was struggling to stay afloat even without the shutdown until at least august 2020, where in dire straights and nobody apart from king and the board were to blame for there reckless spend ,spend ,spend mentality to stop the fable 9 and 10 in a row , and look where we are now. 9iar is a formality and we will be lucky if we are still here to try and fight 10iar ffs. It goes to show that the media kept it all from us thanks to king employing jim traynor , now the truth is coming out from the media that our club will be lucky to survive, even at that if we do not survive our total existence as a club will disappear, as we have already had our fair share from the football authorities with our 5 way agreement .