Dave King has declared victory in the battle to usurp the current Rangers regime, claiming that he has won a ‘landslide victory’ in his bid to control the Ibrox side.
The South African based businessman claims he has won enough votes to oust the current Ibrox board, which consists of Barry Leach and Derek Llambias following the resignation of chairman David Somers yesterday and James Easdale last week.
Despite claiming victory, King has said that Llambias and Leach have refused to quit their positions ahead of Friday’s EGM vote, and are looking specifically for a financial payoff to leave. That means the EGM will have to go ahead despite King calling for the EGM to be cancelled to save the Championship side considerable amount of money to hold it.
In a statement, King said: “All of the Rangers directors that are subject to my requisition have now accepted that my resolutions have been successful and there is now no need for the general meeting to proceed.
“Mr Llambias put it best by advising me that I had achieved a ‘landslide victory’. I wish to thank all shareholders, and particularly the fans, for this resounding success. The future now looks more recognisable for all Rangers stakeholders.
“James Easdale and David Somers did the right thing by resigning however the two appointees of Mr Ashley have stubbornly refused to resign and are using their current position (as remaining directors) to withhold implementation of the resolutions for personal gain.
“Now that the incoming board and I can focus on the future I will issue a further press statement outlining the immediate and intermediate steps that we have to take as we commence the road to re-establishing Rangers to the institution that its legacy demands.”
Once King takes over the running of the club, along with Paul Murray and John Gilligan – all eyes will now turn to the city and what they say in regards to King’s [and Murray’s]links to the old Rangers that was liquidated as well as King’s convictions in South Africa.
As well as having to sweet talk the city, King will also have to woo the Scottish FA and prove to them that he is a fit and proper person. Although the Scottish FA may be easily tempted by the sweet talking King, as there has always been an opinion from the corridors of power that Scottish football needs a strong Rangers, and the Scottish FA will not want to rock the Ibrox boat much.
King has also called on Llambias and Leach to quit before Friday’s EGM. In an email to the Rangers chief executive, King called on the duo to step down from their positions with immediate effect.
King stated: “You have now engineered an outcome whereby I require your cooperation to implement the requisitioned changes without the need for wasted costs and are using this in an attempt to extract a profitable exit from the company.
“I made it clear yesterday that I am not amenable to that. I point out to you both that your fiduciary responsibilities as directors of the company can not be exercised to your personal advantage.
“I call on you to immediately implement the appointment of directors as discussed with [the club’s Nomad WH Ireland]followed immediately by your resignations.
“If you fail to do so, and costs are incurred on the now unnecessary general meeting, you will be jointly responsible in your personal capacity for such wasted costs.
“Your attempts to resign from your management functions can only be dealt with after the changes to the board have been made and there is authority on both sides to act on any decision reached.
“Given the urgency (caused by your failure to act as your co-directors did) I call on you to immediately, on receipt of this email, confirm that you will proceed as requested. This should have happened last week.”
Our Father which art in heaven, Hallowed be thy name. Thy kingdom come. Thy will be done in earth, as it is in heaven. Give us this day our daily bread. And forgive us our debts, as we forgive our debtors. And lead us not into temptation, but deliver us from evil: For thine is the kingdom, and the power, and the glory, for ever. Amen.
The above prayer seems to be pretty apt in the current sense for Rangers and their fans – albeit I am far from the religious type.
Dave King seems to have delivered Rangers from evil [Somers & co.] and that under the businessman Rangers fans believe that he will bring them the Rangers they deserve, a strong Rangers and a return to the glory days.
One issue for Dave King and the Rangers fans is the debts owed to Mike Ashley – can they work with the Newcastle United owner? Is Ashley willing to work with King & co.?
Also as per the loan agreements between Mike Ashley and Rangers International FC PLC, he can appoint two individuals to the board. With King demanding Llambias and Leach’s resignation is King in breach of contract?
Will Mike Ashley call for their reinstatement as per the legally binding contracts? Or if King goes ahead with sacking both Llambias and Leach – the United owner could simply call in his loans following a breach of contract therefore sending Rangers into a financial panic. Will they be able to pay off Ashley’s loan off in one lump sum? Or will they effectively lose the rights to Murray Park, Edmiston House, Albion Car Park and more important the Rangers club badge.
God forbid if that ever happened. Ashley could prevent Rangers playing in their current kit with the current badge over the left breast. He could also put padlocks on Murray Park’s gates and Albion Car Park effectively shutting out Rangers from using either.
It will certainly be messy if King decides to test Ashley’s resolve – a man who has never been one to be bullied by anyone.
King’s statement signals what is in effect a victory in the coup d’etat that he orchestrated last year along with fan groups, starting with the season ticket boycotts.
Now it is time for King to ditch all the talk and bluster and turn all his words and sweet talking press statements into actions for the Rangers support.
He needs to strengthen the current Rangers side, which will see at least 12 players out of contract in the summer. He needs to finance the maintenance of Ibrox and Murray Park – which King had claimed previously would cost around the 10 million pounds mark to fix.
He will need to sort out the day-to-day running of the club and make sure they do not run at a loss as they are doing now.
King will also need to sort out the management issue at the club – either welcome Ally McCoist back to the club as manager or pay him out of his contract along with Kenny McDowall before hiring a new manager. If that was not enough, a whole new scouting network needs to be created and scouts employed.
King may have won the battle, but the war to turn around Rangers’ fortunes is far from over. But the Rangers fans will be hoping and praying that the South African businessman can practice what he preaches. Otherwise he will be crucified along with his predecessors.