Dave King has stepped up his war of words with the Ibrox board claiming that he had a moral obligation to vote against the re-election of Graeme Park, son of sugar-daddy Douglas.
Back at the end of 2014 the South African based tax criminal master-minded the purchase of shares which put control of the club in the hands of the so-called Three Bears.
In March 2020 King opted to walk away with his shareholding whittled down from 21% to 15.45% by subsequent share issues.
Those share issues have kept the lights on with 10 separate share issues taking place during the course of 2021.
King has been forced outside of the tent but speaking to the Daily Record he explained his vote against Park Junior:
I have a fiduciary duty to vote my shares in what I consider to be in the best interest of myself and my fellow shareholders.
I also believe that I have a continuing moral obligation to consider the interest of supporters at all times. I have voted in accordance with the knowledge that I have.
King recently had a £6m loan repaid, selling his shares to Club 1872 is his only hope of further cash but with the board constantly reducing their stake even the gullible are asking what the point is in monthly subscriptions for a diminishing stake.
Discussing his hopes for Club 1872 to gain a foothold on the board, King added:
I hope so, all present signs are that greater supporter influence is becoming increasingly important. But I am concerned about the disconnect between Rangers and Club 1872. Club 1872 represents thousands of supporters who rallied behind the club in its time of need.
To see them marginalised by the club and their officers unfairly subjected to a coordinated attack was shameful and disloyal. It is most certainly not consistent with the values that I spent so much time reintroducing at the Club following regime change.
King’s decision to retain a profile with the sinking ship could be an attempt to be seen as the good bear when the day arrives that there is no ‘investor’ prepared to throw in another couple of million to meet payroll commitments.
In four transfer windows the £185,000 from Hull City for Greg Docherty is the maximum fee that Ross Wilson has raised.
CLICK HERE for Companies House list of share issues in 2021.
How did they get away with repayment of King’s Director loan, that’s a breach of the conditions of the Scottish government loan, asking for a friend!