King urged fans not to buy season tickets for the next campaign, instead suggesting that they should put the money into a fund that would be drip-fed into the club.
The Rangers board reacted angrily to the suggestions, but The Union of Fans, which comprises The Rangers Supporters Assembly, the Rangers Supporters Trust and the Rangers Supporters Association, has backed the proposal.
"Following discussions on the release of season ticket renewals, the Union of Fans would like to confirm that, in line with Dave King's statements over the weekend, we will now be pushing forward with plans to collect season ticket money," read a statement from the fan coalition.
"The money placed into the account will be released to the club, in full, as soon as they agree to give season ticket holders a security over Ibrox Stadium and Auchenhowie.
"There will be no drip feeding of funds and we do not consider that the board has any legitimate reason to reject this proposal."
Rangers will be playing in the Scottish Championship next season having already secured the Scottish League One title this year.