Frank McAvennie has applauded former Rangers chairman Dave King after he agreed to sell his share of the club to fan group Club 1872.
The former Scotland international, speaking exclusively to Football Insider correspondent Dylan Childs, said it is “great” news for Light Blues fans after a difficult period in which the club went bust.
Club 1872 have three years by which to complete the transaction which will see them become the largest single shareholders at Ibrox.
King was chairman of the Glasgow giants from May 2015 to March 2020 but retained his 20.37 per cent shares in the club while Douglas Park took over his duties.
McAvennie wished Club 1872 all the best and admitted he felt sorry for Rangers fans when the club went into administration in 2012.
“This is great for the fans,” he told Football Insider.
“Listen, they went bust years ago and I felt sorry for them. The people that matter in all of this are the fans. They paid good money but they went bust.
“It is down to the owners to look after the club and it did not happen.
“The fans have taken over and good luck to them.
“Well done to King because he has put the club back in the hands of the fans. It’s massive.”
In a statement quoted by Sky Sports, King said: “It is my sincere hope that “Never Again” will supporters become as disconnected and disempowered as they were at the time of my re-engagement with the Club over 6 years ago.
“After completion of my service as Chairman I took time to consider how I can create a final legacy by giving supporters – including future generations – substantial shareholder influence for the first time in the almost 150 years history of our Club. The time to launch a “Never Again” campaign is now.”