Dave King responds to Rangers £150m takeover claim and aims barb at ex-chairman over Steven Gerrard backing

A report by London-based business newspaper CityAM on Tuesday stated that American investors are considering making offers for a minority stake in the Scottish Premiership club.

It is claimed that the potential bidders believe up to 25 per cent of shares in the club could be made available to purchase immediately with King listed as one of the current shareholders who would be "willing to sell" his stake.

The South African businessman stepped down as Rangers chairman in 2020 but remains the club’s single largest shareholder on 14 per cent, with Douglas Park, who succeeded him as chairman, the second largest on 12 per cent. Eight other groups hold stakes of less than 10 per cent, including current chairman John Bennett, who has a 5.5 per cent stake, and fans’ group Club 1872, which owns 4.96 per cent.

King, however, poured cold water over the takeover claims.

"There is no truth whatsoever to the rumour that a USA billionaire - or anyone - has expressed any interest in acquiring Rangers," King said in a statement. "The club is going through a difficult phase that was largely self-inflicted and commenced with Douglas Park refusing to back Steven Gerrard’s ambition to kick on from 55. Self interest should never be put ahead of our club. I am hoping that John Bennett turns things around. I know he will do everything in his power to do so.”

Rangers were the subject of a previous US takeover attempt in 2022 when KRF Capital, owned by Miami-based businesswoman Kyle Fox, launched a bid to purchase 75 per cent of the club. However, after nine months of negotiations, the offer was withdrawn after an agreement could not be reached with existing shareholders.

King had previously agreed a deal to sell to his shares to fan group Club 1872 but scrapped the plans last year citing a lack of interest. In a statement in February 2023, King said: "It is with disappointment that I advise that the agreement for Club 1872 to acquire my shareholding in Rangers has been terminated. This year was to be the final year of the agreement and despite my previously stated intentions to extend the agreement (to provide Club 1872 with more time) it has become clear that this will be futile.

"A review of the share purchases undertaken last month reveals that the take-up for the two years to December 2022 is so far short of the agreed amounts that further extensions will not have any meaningful impact in the next few years.”