In March 2020 Dave King announced that he was walking away from Ibrox, standing down as chairman with a 25% stake in the club formed by Charles Green in the summer of 2012.
Just over three years later with just a few small sales to Club 1872 King’s stake has almost been halved with today’s announcements taking his holding down to 14% of the shares in the company.
Last week King claimed that he had turned down an offer of 40p per share that would have earned him £25m with his favourite reporters printing his comments without asking an questions.
With two share issues this month King’s stake is slowly being eroded while John Bennett firefights to keep the invoices down before the Season Ticket money starts to trickle in.
Micky Beale has been promised an unrestricted transfer budget in the summer, if he fails to deliver Champions League football there could be an end of August fire sale at Ibrox.
While King sits on the sidelines issuing statements almost as frequently as the company convert loans into shares.
King had over 25% of the shares when he resigned as Chairman in March 2020. He now has 14%.
— GrandOLTeam (@JBLuvsCeltic) April 18, 2023
After paying Mike Ashley 27p per share for the Sports Direct shareholding Club 1872 held 11% of the shares in the company, that has been diluted down to less than 5%.
I think I would have cashed in and taken the £25 million if I had the chance.
That’d be enough for even the most glib and shameless of liars to see out his days on earth on!
But Dave wants more, apparently!
A “Fit And Proper Person”
seems as polarly opposite as can be from a
“Glib And Shameless Liar”
but that would be for others to judge, of course!
The SFA can call a player out as a racist on the basis of no supported evidence, but can’t call out a shameless liar on the word of a Judge in a Court of Law!
Makes you think what these eh,
“People”
actually get paid for!?
He will still come out top dog he is King in name and King of the shitshow that passes as klub at ibrox.
He is the absolute typical Glasgow flyman he will see big BEEFY BENNETT out the door and soon take over again.
The new klub at ibrox are heading in the same direction as Rangers did previously,administration King will reject the CVA as he did the last time,and hhen pick them up again for a song,in for a penny in for a pound.
The £25 million never existed, it was pure fantasy from an eejit trying to give the gullible some hope, while chiselling them for season ticket money.
King must be feeling rather concomitant ,with that bad news !!
Now imagine you’re one of those poor huggers who have paid heavily into Club 1872 thinking you are going to have a wee say in what happens going forward.
Telling you right here and now that if Celtic win the treble this Season there is going to be an almighty bun fight this Summer as the hordes revolt and King wades in up to his knees in diluted shareholding.
Their Board will be getting pressure to spend money they don’t generate which in turn will have UEFA looking even closer at what is going on.
This won’t end well.
You have to feel for genuine fans who pay their money hoping for a better future.
Meanwhile the SFA and SPFL look the other way.