King jets in after SFA grant him free reign at Ibrox
Moneyman jets in for his Ibrox coronation after he’s given SFA seal of approval
DAVE KING arrived in Glasgow last night just one hour after the SFA rubberstamped him as fit and proper to take over as the next Rangers chairman.
And he promised to make an immediate investment while also insisting Gers had the
cash to pay off Mike Ashley. King flew into his home city from London at tea time and will tonight take his seat at the top of the boardroom table when he returns to Ibrox for the first leg of the play-off semi-final against Hibs.
His coronation follows two months of discussions between the SFA and his legal team as he battled to have his directorial credentials approved, even though he was previously part of Craig Whyte’s regime as the club plunged into administration and liquidation.
King’s lawyers also had to convince the SFA’s eight-man board – which includes Celtic chief Peter Lawwell and Hibs supremo Rod Petrie – why their client should be welcomed into Scottish football despite 41 tax convictions in a South African court.
Record Sport has learned the marathon process also included submissions and information from the police in Scotland and Johannesburg, from the South African Revenue Service, HMRC and two independent lawyers from both countries.
And no sooner was the decision made public than King – who describes himself as the most scrutinised candidate in the history of Scottish football – was on his way to Glasgow.
When he touched down King was asked if he planned to invest and replied: “Very very quickly. My ongoing investment depended on me getting through the fit and proper test – so now it has been cleared I’m in a position to proceed.
“I had given an undertaking to the SFA that I wouldn’t work as a shadow director so we’ve really been very precise that I didn’t get involved in the affairs of the club.
“It’s going to take me a couple of days to find out what has happened and we then have to sit down and start planning for the future, get the budgets in place, get proper funding plans in place and carry out what we have promised to do for the fans.”
One of the first things King has to deal with is Ashley’s demand for a general meeting at which he intends to ask shareholders to approve repayment of his £5million loan.
But King insisted he wasn’t “remotely concerned” and when asked if Gers had the cash to pay off the Sports Direct Tycoon he said: “Of course we do. It has always been part of the plan, it’s just a question of whether it’s the appropriate thing to do.”
Before his flight took off King also released a statement in which he promised to press ahead with his plans to oversee a rebuild – while pleading with fans to sell-out Ibrox tonight.
He said: “I can now turn my attention fully to the task of rebuilding Rangers. The SFA’s process has understandably been long given their recent negative experience with some of the previous board members who were tasked with being custodians of the club.
“It was essential that I dealt fully with all of the SFA’s questions and provided them with everything they required, no matter how personal, in order to prove that there were no barriers to me joining the board of Rangers.
“I always maintained I would meet the fit and proper requirements once they had examined all the evidence.
“I said before that I must be the most scrutinised candidate in Scottish football history but, as I also previously explained, I was happy to accept this given the importance to the club of having a board fully comprised of individuals with the club’s best interests at heart and who are all approved by the SFA.
“I thank the SFA for their diligence in this matter and now it is time to look ahead and map out Rangers’ future. However, I will elaborate on that in the coming days because there should be no distractions ahead of tomorrow night’s match at Ibrox.
“This first leg is absolutely crucial. I will be going to the match and I urge as many Rangers fans as possible to buy the remaining tickets to ensure a packed Ibrox. Together we can help drive the team forward.”
As Record Sport revealed last week, a final decision on King’s status was delayed while the SFA waited for one final piece of documentation from the South African authorities. That paperwork finally arrived at the end of last week, clearing the way for the SFA board to deliver a verdict.
On paper, King did not pass on two separate criteria – his involvement with Whyte and his long-running issues with the tax man.
But the SFA board used discretionary power to approve him after gathering mitigating evidence from a list of sources. The rule states: “The board must be satisfied that any such person is fit and proper to hold such a position within association football.
“The board hereby reserves its discretion as to whether or not such a person is fit and proper, as aforesaid, after due consideration of all relevant facts which the board has in its possession and knowledge.”
And late yesterday afternoon the SFA confirmed King had been given the all clear to join the board and take over from interim chairman Paul Murray.
Their statement read: “Mr King provided substantial information in relation to the matters set out at Article 10.2 (h) and 10.2 ( j) namely: He has been convicted within the last 10 years of (i) an offence liable to imprisonment of two years or over, (ii) corruption or (iii) fraud and he has been ‘a director of a club in membership of any national association within the five-year period preceding such club having undergone an insolvency event’.
“The board of the SFA has sought and received specialist independent legal advice, both in Scotland and South Africa, in respect of Mr King’s conviction further to the South African Income Tax Act and in relation to his previous involvement as a director of the club. It has also received significant documentation from authorities within the UK and South Africa.
“The scale of this due diligence is unprecedented but befitting the complexities of the consideration placed before the board. “On the basis of this advice, and having considered all submissions received from Mr King and the club, the SFA Board granted an approval, conditional upon further submissions from Mr King in respect of documented agreements with the appropriate authorities in South Africa.
“The SFA can confirm it has now received this supplementary documentation in full and the board is satisfied Mr King is fit and proper in terms of Article 10.2.”