Richard Wilson · @RichwilBBC
24th Oct 2014 from TwitLonger
Dave King Statement
I have been asked to make a personal comment on the rumour that the Rangers board is considering a loan from Mr Ashley. I don't see the offer of a short term loan by Mr Ashley affecting me in any way. Our offer is for a long term permanent solution that can take the club forward and unite the fans and the board for the first time in many years. The board is in the final stages of reviewing our offer and I expect a definitive answer early next week. Frankly, it doesn't seem possible that the board can do anything other than recommend it to shareholders given the dire financial circumstances and the fact that no other long term solution is on offer. Mr Ashley's involvement (and recently announced continued commitment) with Newcastle precludes him from making a similar offer of long term permanent equity.
What Mr Ashley can do is attempt to increase his vice-like grip on the Rangers brand by improving his retail position as a condition for supplying short term debt to tide the club over until our permanent funding is in place. But I know that there are other investors also willing to provide bridging finance. The board will therefore not have to accept punitive terms even if Ashley attempts to oppose them. We must remember that the board is ethically and legally bound to act in the best interest of the company and all shareholders. Ashley can not expect preferential treatment and will not get it. I am confident that Graham Wallace and Philip Nash have enough integrity and commercial experience to do the right thing.