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Rangers: King return requires ratification by SFA

1632357278.jpg

King will need to pass a 'fit and proper' test ordered by the SFA if he is to return to Ibrox as chairman. Picture: SNS

  • by ALAN PATTULLO

Published on the 14 October
2013
00:00

DAVE King’s bid to become chairman of Rangers will first need to be ratified by the Scottish Football Association, it has been confirmed.

The South African-based businessman, who is reported to have already lost £20 million when the club went into administration in 2012, released a statement over the weekend in which he revealed that he had been involved in talks with Ibrox officials over plans to invest in the club. “I confirm that I held talks with Rangers chief executive Craig Mather and finance director Brian Stockbridge in South Africa,” said King.

“The discussions were, to my mind, very positive and it was agreed that subject to the normal regulatory approval I would put my name forward to join the board and to serve as chairman.”

“The recent settlement of my litigation in South Africa removes any impediment to my appointment to the board,” he added, with reference to a long running battle with the South African government over a tax claim thought to be worth as much as £230m. It was recently settled for around £44m.

However, King will need to pass a “fit and proper” test ordered by the SFA if he is to return to Ibrox as chairman. His presence on the Ibrox board when the oldco was liquidated during Craig Whyte’s spell as owner is one issue that will be addressed by the SFA board.

“You need a formal application from the club if he [King] is going on the official return and then it will go to the SFA Board for discussion,” said an SFA spokesman. The next Rangers annual general meeting is scheduled for 24 October, when King could return to the board. 
However, the agm could be delayed following a hearing at the Court of Session in Edinburgh today, after a group of rebel shareholders, led by former director Paul Murray and former chairman Malcolm Murray, sought to obtain an interdict to stop the agm from going ahead until a vote has been held on their admission as directors.

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Tom English: Dave King’s role at Rangers

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Dave King was the first to realise that Rangers had to show contrition. Picture: SNS

Published on the13October

Last June, amid the desperate rancour of the Rangers debacle, Dave King visited Glasgow with a number of things on his mind.

He wanted to speak with Charles Green and get reassurances that he wasn’t just a front man for Craig Whyte. He wanted to dynamite David Murray and his hubris and single him out as the main cause of the collapse of the club. Whyte had merely accelerated the decline, he said. And, also, he wanted to show some contrition on behalf of Rangers. He was the first one to do so.

A week earlier, the new chairman, Malcolm Murray, had issued a statement that typified the Ibrox mindset at the time. Murray said that if Rangers were not welcomed back into the SPL then the other clubs in the league would be signing a “mass suicide pact”. That arrogance and sense of entitlement was not lost on King, who took a different tack when he flew in from his home in South Africa.

King said that Rangers needed to take their medicine and advised that an illustration of penitence wouldn’t be a bad idea. “There’s not been enough, in my view, humility with the way the football authorities have been dealt with,” he said. “I think Rangers have been a bit arrogant. We did make mistakes. It’s not Charles Green’s fault, it’s the previous owners. I was part of that board at the time. I think we should be a bit more helpful than we have been.”

In the space of an interview that lasted just short of 12 minutes, King mentioned the word ‘humility’ three times. “Scottish football needs a strong Rangers,” he said. “But what Scottish football also needs is a level of humility and a level of reparation from Rangers and either that’s going to come from Rangers or it’s going to be extracted from Rangers… The conversation that Rangers should have had with the authorities was a quiet conversation, from the point of humility.”

That conversation never took place in the way King would have wanted. It was a pity, because he was right. And no matter what you thought about King you had to have respect for him for swimming against the Rangers tide and calling for an expression of regret rather than Malcolm Murray’s objectionable, and self-defeating, conceit and condescension. If it was Murray’s contention that Rangers were “the people” then it was his air of supremacy that prevented him from seeing that “the people” didn’t have a leg to stand on at the time and that an apology rather than an attack was the most sensible approach.

King could see it, but his voice was drowned out by all the noise of a fractious summer. The enormous contradiction in all of this, of course, is that at that precise moment the South African Revenue Service (SARS) were not only accusing King of a lack of humility but were also threatening to get him stuck in the slammer for upwards of 15 years. When told of King’s call for contrition at Rangers, a source close to SARS was not exactly impressed. “What about practising what he preaches?” said the source.

This is where the analysis of King becomes mind-bending. A year earlier, the man who wanted Rangers to express regret for the things they had done wrong was denounced as a “glib and shameless” liar by a judge in a South African tax court. In his epic battle with the authorities, King was described, by Justice Southwood, as a “mendacious witness” who had “no respect for the truth” and who “does not hesitate to lie.” King versus SARS lasted 14 years and it was the biggest tax case in the history of the country. In the beginning the revenue service were chasing him for 2.7bn rand (about £230m) but recently the entire affair, including the 322 criminal charges, were settled for around £44m.

King accepted that he had not been compliant with South African tax law and expressed regret at the way he had behaved. It took him long enough, but he got there in the end. There is now something of a rush to install him as the new King of Ibrox, the great redeemer who can replace chaos with order on the back of his undoubted wealth. Rand off the radar, or something like that.

Of course, this wouldn’t be Rangers if there weren’t multiple layers to the story. There’s the moral argument and whether an accepted tax cheat should be welcomed into Scottish football. The flip-side of that is that he has fronted up and paid his dues. All matters have been settled. The moral argument is less important than the technical argument. The SFA’s improper person rules are a bit like their rules on gambling. They exist, but the question is how rigorously they will be enforced.

King’s involvement in Whyte’s board should be an insurmountable obstacle to the notion that he can become Rangers chairman. King was no acolyte of Whyte’s, far from it. But he still had a degree of culpability. For confirmation, all the SFA have to do is re-read the report of their own judicial panel investigation into Whyte’s regime. King, it said, had asked a few questions and griped a little about the lack of information coming from Whyte, but beyond that, the report concluded, he hadn’t done a whole lot to challenge the former owner. In essence, he should have done more.

None of that should stop him investing, though. Even if he is denied the tag of chairman, as he should be, he can still bring his cash and his influence to bear, can still attempt to bring order where there is now chaos, can still plot a future for Rangers that involves proper governance instead of the current circus act.

King doesn’t need to be on the board in order to invest and stabilise Rangers. What he needs is to be welcomed, not so much by those who reign at Hampden, but by those who control things at Ibrox. He needs the warring factions to behave themselves. He needs them to stop kidding themselves that they are doing a good job at Ibrox, that the club is safe in their hands. If they can’t do that, then this club is heading for the poor house again.

You’d hesitate to buy into all those headlines about the “Return of the King” and the “King and Aye” and all the other trumpeting of the exiled Scot as the great redeemer. It’s too early. Regardless of his shameful tax history in South Africa and despite the SFA’s rulebook that ought to preclude him from being chairman, nobody can stop him from investing in Rangers if he is given sufficient opportunity. It’s not the SFA he should be worried about. It’s the guys wearing the club tie and smiling gormlessly as the ship heads for the rocks again.

Is that the first time SDM has been condemned for the collapse of Rangers in a national paper? How long will it be before on the main tabloids do it?

Is the idea of a sustainable, prudent, football club only spending what it earns such anathema to ra peeps that they would prefer a succession of dodgy spiv-like directors or false prophet sugar daddies to living within their means.

Puzzling to say the least. Any normal fans would be happy just to have a team to watch.

If they were spending within their means they'd be struggling to compete with the traditional east coast powers, let alone their green and white neighbours most seasons. So far, current and previous directors seemed terrified to do this because they know they'd be lucky to get 20k through the door most weeks.

Edited by Fotbawmad
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Seemingly the Celtc fans petition is not directly concerned with Sevco, but rather Rangers being awarded a UEFA licence in 2011.

http://www.onfieldsofgreen.com/crystal-myth-the-untold-story-of-the-wee-tax-case/#more-1031

Heres the RM take on it (prepare yourself)

OlegKuznetsovToday, 01:01 AM

Cultural ethnic cleansing motivated by sectarian bigotry. That's what it is, plain and simple.

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Rangers: King return requires ratification by SFA

1632357278.jpg

King will need to pass a 'fit and proper' test ordered by the SFA if he is to return to Ibrox as chairman. Picture: SNS

  • by ALAN PATTULLO

Published on the 14 October

2013

00:00

DAVE King’s bid to become chairman of Rangers will first need to be ratified by the Scottish Football Association, it has been confirmed.

The South African-based businessman, who is reported to have already lost £20 million when the club went into administration in 2012, released a statement over the weekend in which he revealed that he had been involved in talks with Ibrox officials over plans to invest in the club. “I confirm that I held talks with Rangers chief executive Craig Mather and finance director Brian Stockbridge in South Africa,” said King.

“The discussions were, to my mind, very positive and it was agreed that subject to the normal regulatory approval I would put my name forward to join the board and to serve as chairman.”

“The recent settlement of my litigation in South Africa removes any impediment to my appointment to the board,” he added, with reference to a long running battle with the South African government over a tax claim thought to be worth as much as £230m. It was recently settled for around £44m.

However, King will need to pass a “fit and proper” test ordered by the SFA if he is to return to Ibrox as chairman. His presence on the Ibrox board when the oldco was liquidated during Craig Whyte’s spell as owner is one issue that will be addressed by the SFA board.

“You need a formal application from the club if he [King] is going on the official return and then it will go to the SFA Board for discussion,” said an SFA spokesman. The next Rangers annual general meeting is scheduled for 24 October, when King could return to the board. 
However, the agm could be delayed following a hearing at the Court of Session in Edinburgh today, after a group of rebel shareholders, led by former director Paul Murray and former chairman Malcolm Murray, sought to obtain an interdict to stop the agm from going ahead until a vote has been held on their admission as directors.

Needs to be ratified by the SFA ?

Ah well, i guess he's joining the ibrox board then.

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Lse announcement, nae luck bears..

Rangers International Football Club plc

("RIFC")

Statements by Craig Mather and David King

The Board of RIFC notes recent and misleading speculation in relation to David King, a former director of Rangers Football Club. On Saturday 12th October RIFC published statements on its web site from David King and Craig Mather in order to prevent the escalation of false rumours. RIFC was advised by its Nominated Adviser that there were regulatory implications arising from these statements, and accordingly an amendment was subsequently made. The full text of those amended statements is set out below.

CRAIG MATHER released the following statement on 12 October 2013:

"I can confirm our talks with Mr King were extremely positive and Mr King made it clear he wishes to join the current Board to help us ensure Rangers are ready and fully equipped to move up to the next levels.

"We would be delighted to have Mr King, with his knowledge of the Club and business acumen on board and as can be seen from his own statement he is happy to join us right now in the quest to take Rangers back to the very top.

"I am well aware this will not sit comfortably with those who have sought to derail our progress and who have fed out lies and misinformation about the Club and its Directors but I am confident we will overcome every obstacle in our way.

"Rangers will be back at the top sooner rather than later and Mr King, who has made it abundantly clear that he is willing and happy to work with the current directors of both the plc and ltd - myself, Brian Stockbridge, Bryan Smart and James and Sandy Easdale - would be a great asset.

"We have stuck to our task and programmes because we believe we are on the correct course and I would urge every Rangers fan not to give credence to the many lies and rumours that are circulated by people with other agendas and who perhaps cannot admit we are getting it right.

"Too many are trying to distort the truth but it is this: Rangers is not a business in distress. Rangers is in a good position and it is healthy and robust.

"I cannot stress that forcibly enough but it is the reality of the situation. Mr King has made it clear he took time and his discussions with us were intensive and detailed and he is happy with what he has discovered about us."

DAVID KING made the following statement on 12 October 2013:

"I confirm that I held talks with Rangers Chief Executive Craig Mather and Finance Director Brian Stockbridge in South Africa. I wished the discussions to remain confidential until something definite was agreed- one way or another. I have maintained that confidentiality. However, given my awareness of incorrect inferences being drawn in the media I would like to make a limited statement at this time.

"The discussions were, to my mind, very positive and it was agreed that subject to the normal regulatory approval I would put my name forward to join the Board and to serve as Chairman.

"Such an appointment is of course subject to the approval of the existing Board members and ultimately the shareholders of the company. There are also mandatory regulatory requirements that must be complied with and take time. I have already submitted all the necessary documentation.

"News of the meeting has found its way into the public domain and this has unsurprisingly resulted in speculation as to the nature and the outcome of the meeting. In reaction to this speculation and to give some clarity to the club's fans I would like to address a couple of points at this time.

"First, my willingness to become part of the future of the football club is based simply on my love for the club and my desire to support the club with a combination of my business expertise and my willingness to make a further investment.

"In particular I see a present need to utilise the time we have over the next few seasons to be prepared, both financially and on the pitch, to compete with our Glasgow neighbours when we get back to the top League.

"My involvement is not linked in any way to any other individual, albeit I have my private thoughts as to certain individuals that might add value to the club going forward. Ultimately it is for the shareholders to make such decisions. The recent settlement of my litigation in South Africa removes any impediment to my appointment to the board.

"I want to make it clear that I agreed to join the Board only after intensive and detailed discussions with the existing executives and because I believe I can help them by playing a significant role in driving Rangers forward and finally putting the past behind us.

"It is sad that every month of the continued disunity between the fans and other stakeholders is eroding our ability to be ready for the step up to the premier league. We do not have time to waste.

"It was also made clear by Mr Mather and Mr Stockbridge that Rangers are not in need of an immediate financial injection but we agreed that now is the time to commence a new round of funding to ensure that it is available in an orderly and cost effective manner when required. I wish to lead that fund raising exercise and being on the Board will greatly assist me in that regard.

"I believe that the timing is right for me to take this step and I look forward to the opportunity to work with the current directors albeit I would have preferred to have my appointment confirmed prior to communicating my further thoughts. Unfortunately the rumour mill necessitated this short statement. If matters proceed as I hope over the next few days then I will be present at the AGM."

At the insistence of our Nominated Adviser, the Board needs to make it clear, for regulatory reasons, that the Board of directors referred to above is The Rangers Football Club Limited, the wholly owned subsidiary of The Rangers International Football Club PLC. Although we welcome the support of Dave King, no decision has been made to appoint him as a Director. There are regulatory matters which would need to be resolved prior to any such appointment. The Directors also expect that in the medium term future, possibly coinciding with the return to top league football in Scotland, it may be in the best interests of the Company to raise further capital. However, there is no requirement for short term funding, and as such neither the Company nor RIFC are actively seeking finance. Nonetheless, we are committed to exploring a future involvement by Mr King in the Club.

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I would say it is more like ... Those Chidish T1ms

Reading and interpretation is not your strong point.

You're only seeing what you want to see.

It's not an attack on rangers, it's an attack on the SFA.

As said earlier, it won't see the light of day, because it would only serve to highlight the Celtic's board complicity, in the background, in trying to shoehorn THE rangers in to a more favourable position.

Edited by Bookies Love Me
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http://www.scotcourts.gov.uk/rolls/supreme/lists/r131010_034.htm

Browse down to 14th October. The Paul Murray Show.

Suspect 10 mins will do it. So we should hear early doors. :)

No doubt Ally will be asking whether Lord Tyre is a football man. Or maybe Stupid Sandy will take his turn?

Edited by thelegendthatis
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"Regan insists the SFA cannot reasonably be expected to devote time and money to assessing the background of every new director or owner to emerge at a club. He believes the fault for Whyte’s success in taking charge of Rangers lies with those at the club involved in undertaking due diligence during the takeover process.
During a breakfast briefing with daily newspaper correspondents, it also emerged that Rangers director Dave King will not be permitted by the SFA to be an official at the Ibrox club post-administration as he was still serving on the board when they entered their current insolvency event under Whyte.

Having clearly been stung by suggestions that the SFA effectively sat on their hands to allow Whyte to take what has proved to be damaging control of Rangers last May, Regan sought to clarify the extent of their powers in such matters."

There you go then. :thumbsdown Next good idea please Mr Mather. :wacko:

Edited by thelegendthatis
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^^^ obviously rattled and resorts to default reply.

In haste fails to add question mark at the end of reply, adds smiley to hide concern.

well it's only fair that The Rangers fans now have something to keep them awake at night on a par with their Celtic counterparts having nightmares about Dave King and his warchest/investment/pension fund/SARS tax payments schedule

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"Regan insists the SFA cannot reasonably be expected to devote time and money to assessing the background of every new director or owner to emerge at a club. He believes the fault for Whyte’s success in taking charge of Rangers lies with those at the club involved in undertaking due diligence during the takeover process.

During a breakfast briefing with daily newspaper correspondents, it also emerged that Rangers director Dave King will not be permitted by the SFA to be an official at the Ibrox club post-administration as he was still serving on the board when they entered their current insolvency event under Whyte.

Having clearly been stung by suggestions that the SFA effectively sat on their hands to allow Whyte to take what has proved to be damaging control of Rangers last May, Regan sought to clarify the extent of their powers in such matters."

There you go then. :thumbsdown Next good idea please Mr Mather. :wacko:

I wouldn't trust the SFA as far as I could piss. They've been proved to be sucking Rangers' cock and will continue to do so. Social unrest etc.. A-holes!!

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