Former Rangers chairman Dave King has accused the current board of losing the league.
King has reignited a bitter running feud with the Ibrox hierarchy by also claiming they are not receiving top dollar for their shares. His blast comes in the wake of a major Blue Room shake-up which saw John Bennett take over as chairman from Douglas Park, after ploughing more of his own money into a £2million fundraiser which saw almost 8m new shares released at a price of just 25p.
But that deal was announced after Park’s board rejected an offer of 40p per share from would be American investor, Kyle Fox. And, with unrest growing in the wake of Celtic’s title settling Old Firm win on Saturday, King has floated the idea of season ticket holders demanding a whopping 40 per cent discount ahead of renewals for the next campaign.
He said: “Since #55 the board has squandered the advantage that we worked so hard to achieve – the current 12-point gap between Rangers and Celtic clearly suggests this - and has completely lost sight of the biggest stakeholder group in the club.
“It is the supporters, not the directors, who should be prioritised. Hopefully, the removal of Douglas will allow the board to put supporters first once again. By doing so the board commit to ensuring there will be no repeat of this season.
“Like most supporters and many shareholders, I am demoralised by the continuation of the Douglas Park led board. No sooner had the board rejected a fully-funded offer of new shares at 40p than they issued substantial shares to themselves at 25p.
“Twenty-five pence is the price that prevailed before #55, before the Europa League Final, and before the reemergence to Champions League Football. It massively undervalues our club and our recent achievements. I wonder how would the board react if supporters asked for a 40 per cent discount on next season’s ticket prices as an equivalent?”
Rangers have been asked for comment.
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