King cool over talk of admin

Former Rangers director Dave King has rubbished reports of impending administration at the Scottish League One club.

Last Updated: 03/03/14 at 14:57 Post Comment

Dave King (right) backs Rangers boss Ally McCoist (left)

Dave King (right) backs Rangers boss Ally McCoist (left)

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

The South Africa-based businessman, who invested £20m in the club before it was consigned to liquidation in June 2012, insists there is no truth in the rumours which swept through social networking sites over the weekend.

A number of high-profile bloggers claimed Rangers chief executive Graham Wallace was preparing an insolvency event, just over two years since oldco Rangers were put in administration on Valentine's Day 2012.

The club, currently closing in on the League One title, responded by claiming the rumours were 'completely false' and early indications in share trading in the club showed no sign of panic with the price up 50p to £30.50p at midday.

King, who has called on fans to withhold season-ticket money due before the end of the campaign, and place it in trust rather than hand it over to the club, said: "I don't believe that it is likely that the club will go into administration at the present time."

And King has thrown his weight behind manager Ally McCoist's decision to distance himself from the power struggle at the Ramsdens Cup finalists.

McCoist refused to be drawn on any financial issues at last week's press conference ahead of their 1-0 victory at East Fife - a win secured by an injury-time penalty from skipper Lee McCulloch.

"I believe that it is the manager's job to focus on team affairs and to stay away from the corporate activities that he has no influence over," he said.

"I have not had discussions with Ally on my recent statements and I don't believe that it would be appropriate for me to do so.

"Ally has always demonstrated his loyalty to the club and will, no doubt, continue to put the club ahead of any individual."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

sn'tthis strange. Last season we were worried that we were stuck with a Dinosaur in Moyes while Liverpool and Everton were disappearing into the distance with their young, spritely managerts, playing football from heaven. Progressive managers, they said. Managers who understand the modern game.........

HarryBoulton
Rodgers: The pressure's on

B

eing consistently and unrelentingly dog turd really takes it out of you. Try shadow boxing. That's what it's like watching Liverpool, punching thin air.

sinbadsdad
Neville: Reds need a rest

G

ood list, some crackers in there. For me, I'd have had Steve McManaman for Liverpool away at Celtic in the UEFA cup in 1997. I was in the ground that night and everyone kept screaming at him to make a pass, but he just kept going and going and going...brilliant, and in the dying minutes too.

uncle-muller
F365's Top Ten Counter-Attacking Goals

Footer 365

Champions League: Carlo Ancelotti backs Basle against Liverpool

Real Madrid boss Carlo Ancelotti expects Basle to avoid defeat against Liverpool and join them in the second round.

Champions League: Brendan Rodgers hails 'character' of Liverpool after draw at Ludogorets

Brendan Rodgers hailed the character of his Liverpool team after their 2-2 draw away to Ludogorets in the Champions League.

Champions League: Liverpool must cut out errors at set pieces, says Gary Neville

Liverpool's defensive frailties at set pieces will continue to haunt them, says Gary Neville.

Mail Box

Mails: Quit Massaging Mourinho's Ego

That's the message from the afternoon mailbox after it was claimed that the Chelsea boss has transformed Cesc Fabregas into a complete player. Plus, more on Arsenal...

F365: Saving You From Bad Relationships

A cracking Mailbox, with thoughts on Chelsea, Willian, Jurgen Klopp, Brendan Rodgers and Aguero. Plus how Football365 saved one man from an unhappy relationship...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property