But King – who remains the club's biggest individual shareholder having stepped down from his boardroom post last year – has had the last laugh.

He said: "I'm absolutely of the view that if we hadn't brought Steven in we wouldn't have won the league this year.

"I've had a lot of challenges during my time at the club, not a lot of personal disappointment.

"However, it was a real personal disappointment to let Pedro go. I liked him, I liked working with him, he was a thoroughly decent man.

"I know he had an awkward relationship with the media, perhaps he was a bit naive in some of the things he did.

"I don't think he got the whole Glasgow thing, but he was a good man, he did his very, very best.

"But having said that, it was a result of that which led to the ultimate appointment of Steven.

"When I look back at all of the options available to me at the time, he was the one person I felt could win us the league.

"We had Premier League managers available to us, far more experienced men, but I knew what Steven could do."

King has warned Gerrard that while he has now gained an icon status among the Rangers support, he may find it tougher to please them next season as expectation levels grow again.

"The relationship between the board, the club and its supporters will change next year," King said. "We've been able to ask supporters to stay with us, they knew times were tough.

"The supporters were always there but once the situation normalises you can't keep going back to the supporters.

"It will be an interesting dynamic moving forward. Having gone from playing catch-up the expectations have changed.

"Fans will want to be dominant so next year could be very interesting for everyone at the club."