Crazy King plans to buy Rangers out of liquidation!

Crazy Dave King believes that he can revive Rangers from their 2012 Liquidation!

The South African based businessman kept his hands in his pocket as Her Majesty’s Revenue and Custom’s rejected a CVA and killed the club off with BDO taken on to salvage what it could for over 200 creditors owed over £50m.

Backed by the spin of James Traynor’s Level 5 PR company Mr King was voted onto the Sevco board by shareholders in March on a ticket of transparency and accountability.

Promises to invest sums ranging from £10m to £30m have fallen by the wayside alongside auditors Deloittes, nominated advisers WH Ireland and a share listing on the Alternative Investment Market.

Despite that catalogue of failures- and falling 12,000 short of his season ticket target- Mr King not only plans to save Sevco from administration but also intends turning the clock back to rescue Rangers from liquidation.

“We have a vision going forward where I would like to see us taking Oldco out of liquidation and putting assets back into it – putting the old Rangers back into the old company,” King told daily papers after a session of hot air with broadcasters.

Sevco look hamstrung by the presence of tax criminal Mr King as chairman and last week’s arrests of those involved in the 2012 asset transfer from Duff & Phelps to Sevco.

“We saw Mr. [Dave King] testify in chief and in cross-examination for four days and are unanimous in finding that he is a mendacious witness whose evidence should not be accepted on any issue unless it is supported by documents or other objective evidence. It was remarkable that Mr. [Dave King] showed no sign of embarrassment or any emotion when he conceded that he had lied to the Commissioner in a number of his income tax returns. In our assessment he is a glib and shameless liar.”

Ignoring all logic, the South African based businessman, who was recently described in court as a glib and shameless liar suggested spending over £50m repaying the debts ran up by Rangers

He added: “We can’t do it while all this stuff is being sorted out. The timing will depend on the litigation. I just think it would be a good thing to do. It would be back to the traditional Rangers and I think the supporters would like it.

“You can never rewind what has happened but you can try and look back in 100 years’ time and say there was a blip of four or five years in Rangers’ history when this all happened and it was resolved to the norm again.

“It is practically feasible and legally feasible. We just have to get in the position where the liquidators have done everything they can. The club can then be rehabilitated.

“It’s an emotional thing as well with the supporters. They hear all this, ‘You’re not Rangers any more’. And ‘You are a new club’. We just want to put all that behind us and say we had this unwanted period and now we are back to where we were.”

Since he talked of going ‘back to the traditional Rangers’ perhaps Mr King could explain to his co-investors exactly what they are currently watching!