Major Rangers shareholder lights fuse on ticking Ibrox time bomb

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Major Rangers shareholder lights fuse on ticking Ibrox time bomb

Former Rangers chairman Dave King has taken aim at the club’s current board of directors in a scathing open letter that adds fuel to fire amid fan discontent.

Rangers supporters are increasingly disillusioned with those running the club amid a run of poor form and some consistently woeful away domestic results in 2022.

Photo by Ian MacNicol/Getty Images

Ex-Rangers chairman Dave King – who led the consortium that wrestled control of the club back in 2015 but who stepped down as chairman in 2020 – is at odds with the current regime amid an agreement to sell his shares to supporters via Club 1872.

Club 1872 have been very vocal in their disagreement with the current directorate in the past and have previously claimed the executive team – led by Stewart Robertson, James Bisgrove and David Graham – “has developed an extremely unhealthy disdain for the Rangers support”.

Dave King was left surprised at the decision not to strengthen the squad after Champions League qualification and this week the South Africa-based businessman penned an open letter to the board.

In it, King challenges everything from a lack of communication over transfer strategy, the sale of shares to Club 1872, and links to an American businesswoman and the sale of the club.

Dave King also claims he has become “increasingly alarmed” at the situation in the Ibrox boardroom.

“I have been closely following the Club’s activities on and off the pitch and as a supporter (and still largest shareholder) I have become increasingly alarmed about what I am witnessing,” said King [Glasgow Times].

“Being a director of Rangers is a privilege that comes with an individual and collective responsibility that appears to have been absent from decision making for some time now.

“There is a shroud of secrecy around what is happening within the Club and the lack of meaningful engagement with supporters and shareholders, who are entitled to a greater degree of respect, is completely unacceptable.

“The Club is being run like a private concern with supporters being increasingly treated as customers rather than people who give their hearts, souls and hard-earned money to Rangers.

“Rangers fans know only too well the pain and suffering that can come from a lack of scrutiny over those entrusted to protect our Club.

“This is why I am forced to speak out at this time by sending an open letter to the Board and by asking for future transparency, honesty and respect for all supporters and shareholders.”

The ex-Gers chairman has asked for transparency on:

• When the board decided to ‘change its commitment to supporters to reinvest the proceeds of player trading back into the squad and why was this not openly communicated to supporters?’

• What has happened to the funds banked by the run to the Europa League final last term and whether the ‘focus has moved onto competing in the financially lucrative European competitions as a pure profit motive rather than as a means to improve the squad?’

• The relationship between the board and fan organisations and why Park is ‘so against the transfer of my shares into the control of supporters via Club 1872?’

• If Rangers are for sale ‘if the price is right’ following an approach by American businesswoman Kyle Fox amid suggestions, which Rangers have refuted and have launched legal action over, that a share deal and £75million worth of investment was on the table.

Rangers fans caught in the middle as Dave King rails against Board

As Rangers find themselves five points off Celtic in the title race and having conceded eight goals in their last two matches, the Ibrox staff are under major pressure to turn things around.

But there’s a general acceptance that Gio’s team has not been helped by a lack of investment in the playing squad following qualification for the Champions League.

Gers fans are frustrated with a lack of communication from those at the top of the club and other issues ranging from customer service to a lack of transparency to issues with the pressue have also been magnified in the wake of poor performances.

Dave King certainly isn’t sitting quietly and we suspect the rumbling battle between himself and the Rangers board has a few more rounds to go yet.

Meanwhile, the Rangers women team are set to play their upcoming Champions League clash at Ibrox.