46-yr-old is prime manager contender: Five things learned from King at Rangers AGM
Rangers’ finances
King was asked about the current financial situation at the club, and said the following, “the club cannot take future [loan] funds for granted if it continues to make losses.”
The businessman vowed that it was the board’s duty to make sure that didn’t happen, before providing the positive news that the £3million they paid to Mike Ashley to extract themselves from a controversial deal would be recouped within the year.
“During the year under review I am pleased to say the board secured an extremely favourable outcome to the long-running litigation with Sports Direct and the club will benefit enormously from that outcome.”
The Light Blues made a £6.7million loss last year, due to taking the £3million hit over the Ashley situation.
In other Rangers, caretaker boss Graeme Murty has heaped praise on this 19-year-old for his “exceptional” performance against Aberdeen last night.
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