Kieran Maguire issues verdict on Rangers boardroom 'power shift' after document 'becomes public'
Dave King’s bid to return to the Rangers board will not be affected by his declining shareholding in the club.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about developments behind the scenes at Ibrox.
Documents submitted to Companies House last Wednesday (5 January) revealed that King no longer has “significant control” at the club.
The new was backdated from 30 June 2021, and King has since revealed his desire to make a dramatic comeback at executive level.
The 66-year-old has been formally involved with the club for over 20 years and was chairman during one of the most turbulent periods in its history.
He has been an outspoken critic of members of the board since he stepped down in March 2020.
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The South Africa-based businessman has agreed to sell all of his equity in the club, which once stood at 20 per cent, to supporter group Club 1872.
But Maguire claims that his campaign to rejoin the board will not be derailed by his reduced influence as a shareholder.
“This means he has fallen below a certain shareholding juncture,” he told Football Insider‘s Adam Williams.
“If you take a look at the document, it says it’s from 30 June. But it’s only just been made public.
“I don’t think this will have any significant impact on him attempting to get back on the board.
“Whether that power shift takes place or not will be determined by the other shareholders.”
Rangers issued nearly 5million shares in the same raft of Companies House updates.
That development has earned the club approximately £1.25m.