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 made true of his promise to step into the background of Rangers this week, leaving Scots businessman and board member Douglas Park in interim charge.

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Dave King has officially stepped down as Rangers chairman. (Photo by Ian MacNicol/Getty Images)

Whilst King’s decision to step back was to be expected no matter the circumstances, comments he made about expected Ibrox investment have caused a stir.

King revealed in a statement released to the Press Association and carried by BBC Scotland that expected investment was put on hold as the Board reassess the situation amid the shutdown.

“At my final board meeting in Glasgow on 14 March the board was close to finalising a new round of funding however this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus,” said King.

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“The subsequent severe developments within the sporting and general business environment – that have now resulted in global lockdowns – has necessitated that the careful financial planning assumptions presented on 14 March are revisited.

“In that regard we are no different from other football clubs and, indeed, the largest and smallest companies worldwide are all affected to varying degrees.”

There has been confusion over what Dave King meant with his investment comments. (Photo by Ian MacNicol/Getty Images)

However, in an official club statement Rangers moved quickly to allay fan fears over any investment issues, saying planned investment was “well advanced”.

 

“RIFC is pleased to confirm that the funding plan announced at the recent AGM is well advanced, with significant investment already received and further commitments in place,” reads the statement.

These conflicting announcements come as reports claim Hong Kong-based businessman Stuart Gibson was about to make a £20m investment in the club.

The comments also inspired an online spat between Rangers influencer Four Lads Had a Dream and BBC chief sportswriter Tom English, who questioned the short-term financial situation at Rangers.

Whatever the case behind the scenes, there’s been plenty of confusion between the contradictory nature of the comments.

It could well be that the funding mentioned by Rangers differs from that mentioned by King, with the necessary £10m financing outlined in the Annual Report already sourced by the club.

Rangers fans can expect to hear more on the club’s finance in due course. (Photo by Mark Runnacles/Getty Images)

It could mean several big decisions need to be made at Ibrox in the coming weeks and months.

Whatever the case, we’ll find out soon.

In the Rangers statement, incoming interim chair Douglas Park suggested that Rangers “will make further public comment in due course.”

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