GERS: WE WILL TALK TO KING; EXCLUSIVE Gers will hold talks with King.
Byline: KEITH JACKSON firstname.lastname@example.org
RANRA GERS chairman David Somers last night opened the door to a Dave King K takeover by admitting he's ready to start talks with the club's would-be saviour.
Somers and his rattled regime are desperately seeking fresh investment to avoid more financial distress on the back of a supporters revolt which has seen this year's season-ticket sales almost halved to around just 20,000. We first Turn to Page 67 Turn to Page 67 From Back Page revealed in June that the board hoped to stave off a gathering crisis by raising up to PS8million in a new share issue which would be open only to existing shareholders.
But a lack of interest in that proposal among city investors has forced the club to scale back on its ambitions and on Wednesday they announced to the stock exchange their hopes of bringing in PS4m instead - emergency cash which will be needed in order for the club to pay its way through the rest of the calender year.
Yesterday Somers confirmed to Record Sport his plan to put even more shares up for sale later in the season - and his intention of inviting King to finally plough cash into the club.
When asked if he plans to open dialogue with new investors and with "King specifically, Somers said: "Yes - we will be seeking shareholder approval at the agm later in the year for further issues of new shares, to provide the financial capability needed to develop the club for the future.
"Just because we obtain this permission, however, does not mean we will use it immediately; rather it is an important capability to have. This is all part of a long-term strategy to rebuild the club in a considered and planned manner.
"We are always open to dialogue with new investors, including Dave King. On an occasion in the future when we might be talking to new investors, I would expect us to have a courtesy conversation with him."
King insisted earlier this " year that he was ready and PSwilling to pump more than PS30m into Ibrox in order to gain control of the ailing club and nurse it back to health.
But after being held at arm's length by the board he retreated to South Africa.
Last night, after Somers made clear his intentions to open fresh talks, we contacted King in Johannesburg.
He said only: "I have heard nothing."
BACK IN THE FRAME Dave King
NEW INVESTMENT Somers
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|Publication:||Daily Record (Glasgow, Scotland)|
|Date:||Aug 8, 2014|
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