Dave King reveals a big secret on the new owners on what Rangers have had which will no longer be an issue when 49ers take…
ANDREW CAVENAGH didn’t grow up in the States idolising John Greig and Davie Cooper.
Paraag Marathe isn’t the President of the San Francisco Rangers supporters’ club.
But as far as Dave King is concerned, the incoming American owners’ lack of emotional attachment to Gers should be viewed as a positive.
The former Ibrox chairman believes too many major decisions have been from the heart – not the head – in recent years.
King revealed the US takeover, headed by Cavenagh and 49ers Enterprises chief Marathe, is now “90 per cent” complete.
And he told Rangers fans that they will have calm, calculated decision-makers in the boardroom to take the club forward.
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King said: “Having been around the club for 20 years, there is a big disadvantage in clubs like Rangers where the board and decision making is dominated by supporters.
“You get this absolute doom and gloom when you lose a game and,
‘We need to do this and that, sign players and get rid of the manager.’
“Then you win a game and all of a sudden, everyone is on top of the world.
“They’re going to be more calculated, more neutral and their football and financial plan will be far more robust and tangible.
“They’ll be able to ride through the bad times if there is a period of poor results.”
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Why Rangers? That was the first question King asked when former Rangers director Paul Murray first introduced him to Cavenagh last year.
He revealed there has been Saudi investment before the Americans came to the table but was won over quickly.
King said: “The fact that Rangers had fallen so far behind following 55, I just felt the gap was too big to bridge looking at local investment from the directors.
“I started a project at that time to see if I could try and find someone who I could bring in who was substantial, who could take the club forward and not only had a football plan, but with a financial plan behind it as well.
“Someone with deeper pockets, someone with sustainability in terms of funding.
“I was talking to the Saudis at that time, then I got a call round about October from Paul..
“He said: ‘Look Dave, I’m aware you’re trying to find investors, I’ve got these guys and I think they’re the real deal.’
“I said, ‘Before I take this forward, engage with other shareholders and board members, can you give me proof of funds that you have the cash to not only buy out the existing, weak shareholders we’d like to get out, but also enough to put new money into the club?’
“They satisfied me through their bankers and I’m not going to disclose the figure but the amount of money was very, very substantial.
“It was the amount of money I thought was needed not only to get this deal done, but to fund the club for the next two years and to bridge what I see to be the gap between us and our competition at the moment.
“Once they provided the proof of funds, we then started serious negotiations with other shareholders and directors to see if they could package something that would allow them to come in and take control.
“I asked the question when Paul introduced them to me – why Rangers?
“I get your interest in the 49ers with expanding franchises, I see why football is a great business opportunity, we can see what you’ve done at Leeds United on the commercial revenue side.
“I can see that Rangers provide a better base to leverage that.
“But why are you interested in Rangers? It’s not San Francisco, It’s Glasgow, not London.
“And I got all the right answers.”
Marathe and his 49ers Enterprises arm also own Leeds United and are preparing for a return to the Premier League.
But King dismissed any notion that Gers could become a feeder club for the Elland Road outfit.
He talkSPORT: “The situation regarding Leeds, as far as I understand it, is not going to be a distraction.
“I see the opposite as being the risk.
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“I’m maybe being unkind to Leeds here but I think the difference, which is understood by Andrew and the 49ers, is that with Rangers you don’t have the yo-yo risk that you always have with a club like Leeds, with no disrespect to them.
“When they come into Rangers, they know when they make an investment that European football is pretty much assured and there’s a reasonable level of certainty of how low Rangers can go.
“The situation is very different for Leeds United and the type of investment required in England to maintain that can be challenging for any investor, no matter how substantial you are.
“Whereas if you look at Scotland and the size of Scotland, the exposure they will get as that size of club.
“I’m not saying they are participating in a two-team league, but it’s hard to envision Rangers or Celtic not finishing first and second, so European football at various stages will be there.
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“It’s easier to put the financial support to support the football plan that it is at a club like Leeds United, where it’s a lot more challenging.
“As exciting as it is for them to be going up to the Premier League, they’re going to have to make a lot of financial budgeting decisions to make if they want to stay there.”
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