Ex-chair saw role as a ‘duty’
DAVE King was brought up in the Castlemilk area of Glasgow but in 1976, his work took him to South Africa, where he lives today.
He first joined the Rangers board as a non-executive director in March 2000 and made a massive financial investment of £20million in the club, which was then run by Sir David Murray.
In 2012, he called on shareholders to vote against a company voluntary arrangement (CVA) in a bid to save the then ailing club.
But King lost his entire stake in the club due to Rangers’ financial collapse and eventual liquidation after Craig Whyte bought the club.
Away from football, it was alleged he owed the South African tax authorities about £60million. After years of legal wrangles, he pled guilty to a number of criminal counts in relation to South African tax law in 2014.
A year later, he announced he wanted to invest in Rangers again and acquired 15 per cent of the shares.
In March 2015, King was appointed BIG SPENDER Lifelong fan King in 2000 chairman at an EGM, replacing ally Paul Murray. The move was welcomed by Rangers fans, who felt their club was now run by someone with the best interests of the club at heart.
But the Financial Conduct Authority (FCA) later ruled that King had breached takeover rules.
King pulled off a major football coup in May 2018 when Liverpool legend Steven Gerrard agreed to be Rangers manager.
Gerrard claimed King was the main reason he left Liverpool, adding: “When we first met, I could see his passion for the club and his determination to get it back to a respectable place. We shared the same vision of building a team the fans could be proud of.”
In November 2019, King announced he would stand down as chairman in 2020.
He told shareholders he wanted to concentrate on his business and family life, and said the club didn’t need him any more.
Addressing the AGM, he said: “Being chairman of Rangers is not an experience I have enjoyed. It always remained a duty.”
King’s announcement yesterday that he is selling his stake to Club 1872 brings down the curtain on the 65-yearold’s involvement with the club over two decades.