I read this week another attempt at PR spin from the Daily Record, one that even by their standards is pure fantasy.
The line being pitched: Dave King is showing tremendous generosity by allowing Rangers fans to purchase his shares for well below their market value. What a guy! Letting Rangers fans buy 25% of their club for a bargain price.
Anyone with even an ounce of business knowledge can pull this narrative apart in 2 minutes.
No businessman, regardless of his perceived “staunchness” would sell an asset for less than he thinks he can get for it on the open market. Especially not someone as deep in debt as King.
When the penny drops regarding Rangers actual financial status, that’s probably how much each of these shares will be worth!
This is what financial folks call a “fire sale”. King is dumping the shares before they lose what’s left of their value.
Why else would he offer to sell them at an even lower price if Club 1872 can raise the money within a year?
He needs to get shot of them as soon as possible.
Of course, King knows he can depend on a compliant media to sing to his tune, and an ever-gullible fan base to lap it up.
Also, prepare for the fun and games that will ensue if this fans’ group can actually raise the capital and secure their place on the board.
Considering how utterly shambolic some of their attempted “protests” have been in recent years, much hilarity will no doubt be on the cards when they try to make actual business decisions.
In the world of big business, it doesn’t matter what the Daily Record says. All that matters is the balance sheet, and Rangers’ may as well be written in crayon.
Yet another false dawn beckons for the Klan.