Dave King has claimed that the current squad of players at Ibrox could be worth £103m MORE than their current market value!
Despite constant speculation from the Scottish media there has been no interest in Alfredo Morelos while reported interest in Glen Kamara and Ryan Jack is probably as genuine as interest in James Tavernier.
Over the last two years the only notable fee brought in from transfers was the £2m for Josh Windass but in a scripted speech to the AGM King claimed that the book value of the players was far greater than listed.
The full speech is available on the club website:
Based on discussions and offers that we have received from other clubs, I have had a personal comfort for some time that the value of our squad is significantly higher than the book value reflected on our balance sheet. I therefore decided, initially for my own comfort, to request the new director of football, Ross Wilson, to give me his fair value estimate of the individual players making up the player pool. Ross completed this exercise in consultation with the manager and provided me with two estimates. The first is the estimate of present market value and the second included a projection as to where some of our players could get to if they continue to progress as expected. The present value of the squad reflects a significant uplift of £55 million pounds over our book value and the projected amount would yield an uplift of £103 million pounds if it eventuates.
There is no book value on players in the club accounts, at a moments notice a player can suffer a career ending injury.
Steven Gerrard now faces an anxious couple of weeks as King slips into the background while the club tries to find £10m to see out the season and whatever amount is awarded to Sports Direct.
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The Hummel deal will finish at the end of this season with the Danish firm expected to put in a substantial claim after sales failed to get close to target due to the Sports Direct breach of contract.