MX23RW : Friday, December 13 11:04:30| >> :120:37117:37117:

Dave King insists he has no plans to sell Rangers shares

Dave King insists he has no plans to sell Rangers shares
© Reuters
Sources close to Ibrox have confirmed to PA that Paisley-born Gibson is involved in talks with the club over a £20million deal.

Rangers chairman Dave King insists he has no plans to sell off his Ibrox shares.

But the Gers chief has confirmed plans to press ahead with a share issue following reports that Far East real estate tycoon Stuart Gibson is set to lead a multi-million pound investment in the club.

King announced at the club's AGM back in November that he would stepping down from the helm of the Light Blues board after five years in charge.

That has sparked speculation that the South Africa-based businessman is preparing to dispose of the 25.58% stake held by his family firm, New Oasis Asset Limited.

But the Castlemilk-born tycoon told the PA news agency: "I am not selling any shares.

Dave King (centre), seixed control of Rangers along with allies John Gilligan and Paul Murray back in 2015
Dave King (centre), seized control of Rangers along with allies John Gilligan and Paul Murray back in 2015 (Danny Lawson/PA)

"As I said at the AGM, we will raise new funds.

"No existing shareholders are selling."

The Daily Record reported on Tuesday that Gibson is "on the verge of ploughing millions into Rangers and becoming the most influential figurehead in the Ibrox boardroom".

Sources close to Ibrox have confirmed to PA that Paisley-born Gibson is involved in talks with the club over a £20million deal.

It is understood that the Japan-based businessman has flown in to Glasgow to hold talks.

Gibson relocated to Japan in 1999 and his property firm ESR is reported to have a portfolio of assets worth more than £1.5billion under its management.

He has recently held discussions with current director George Taylor – a senior investment banker with Morgan Stanley, based in Hong Kong – and had planned to take in Sunday's Old Firm clash before it was shelved in the wake of the coronavirus pandemic.

Gibson's cash injection could yet prove vital to the Gers coffers amid the virus uncertainty.

The club admitted back in November it would need £10million in investment before the end of the season after announcing an annual loss of £11.3million.

ID:393133: cacheID:393133:1false2false3false:QQ:: from db desktop :LenBod:restore:4875:
Written by
P A
Restore Data
Share this article now:
Rangers manager Steven Gerrard reacts on March 12, 2020
Read Next:
Rangers back decision to postpone Scottish and European matches
>
Read more about Dave King Football
rhs 2.0
Today's games header
1.15am
Rams
@
49ers
Tables header RHS
TeamPWDLFAGDPTS
1Celtic1514104444043
2Aberdeen16104230181234
3RangersRangers1510232791832
4Dundee UnitedDundee Utd156632215724
5Motherwell157171823-522
6Dundee165472729-219
7St Mirren165381926-718
8Ross County163671230-1815
9St Johnstone1642101829-1114
10Kilmarnock163581734-1714
11Hearts163491825-713
12Hibernian162681828-1012


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
Argentina's Lionel Messi kisses the World Cup trophy after collecting the Golden Ball award on December 18, 2022Sign up for our FREE daily preview newsletter direct to your inbox!