'Charlatan', 'King should be worried' - Celtic fans react as Rangers offer is made
Rangers’ biggest shareholder Dave King has confirmed a mandatory offer for the outstanding shares in the club – and Celtic fans think things are about to take a turn for the worse for the Gers
The Takeover Panel decided that a formal takeover should have been made after the Three Bears group led by King secured more than 30 per cent of the voting rights in Rangers over the last few years.
The offer document released on Friday night by Kings confirms that the bid would be funded “using the receipt of dividends to be declared next month amounting to £13,074,842.90.
Celtic fans insist the Gers are still in dire straights – despite predicting administration every week since 2012 – with one saying “Dave King should be worried.”
Here are some of their comments on Twitter:
Just woke up to Dave King story. Mans an absolute charlatan. If I were a Rangers fan I'd feel let down by those governing the game. Never fit & proper. Lot of people in Scottish football failed in their duties. Not enough questions asked #RangersFC
— Kevin Hamill (@kevinhamill) March 31, 2018
Today, I thought would be the last we’d hear of Dave King, if not, and he’s being truthful(no laughing at the back) about share offer, then drink it in folks. The banter years have just begun.
— Itim (@Itim1967) March 31, 2018
Dave King has saved the club (company) again! All is well and as a Timmy you should be very afraid as The Rangers International Football Club (company) are coming, again. Or something. So mote it be. WATP.
— Fly The Flag. (@_John_Smith1967) March 31, 2018
Chris Graham has spoken (in the typically sneery tone he uses)…
Dave King should be a worried…a plague of locusts, famine and pestilence will surely visit him now he’s had support from Sevco’s Jonah. https://t.co/kuuojeBWwO
— Fr. Paul Stone (@FrPaulStone) March 31, 2018
What's Dave king doing Tom, What's Dave King doing?
— Brian Keenan (@Keenanb81) March 31, 2018
Sore hips after waiting in line to see the Administrators
— Electronic Tims (@ETimsNet) March 31, 2018
But he told the courts he has no money and South African Tax Authority and criminal courts will be looking on with interest too
— CeltiCRa6⭐️-IAR???? (@CeltiCRab19671) March 30, 2018
King seized power at Ibrox in early 2015 after forcing Dave King’s hand-picked board from Ibrox after a stormy EGM.
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The South African-based businessman had previously argued he shouldn’t be liable for an offer for the outstanding shares but was ordered by the Court of Session to make the 20p per share offer.
King had until Friday to make an offer or be in breach of the court’s decision and could have seen the club cold-shouldered as a result.
Although King has to submit the full amount he could possibly to forced to shell out, with the Gers’ shares typically trading at 27p it is unlikely many will accept the mandatory offer at 20p.