Rodger Baillie, The Sun 31 March 2000 ã20m man Dave's pledge MEGABUCKS tycoon Dave King is pumping ã20million into Rangers because he wants them to be as big as Manchester United inside five years.The South African-based Gers fanatic is investing a huge slice of the Pounds 100m he made from the sale of his financial company. He revealed the only return he wants from his old favourites is European glory. King said: "I want to see Rangers consistently high performers on the European stage, the position Manchester United have reached now. "The Old Trafford club know they will operate at the highest level every season in the Champions League, and that must be our target too." Chairman David Murray is putting ã10m of his own fortune into the Ibrox war chest. Sports management chief Alastair Johnston and Blackpool Tower owner Trevor Hemmings will chip in around ã3m as part of a share issue to raise ã53.1m. Murray said: "We're going for it. I don't want to waste two or three years of my life by not having a right go." "If we do that and it doesn't happen we'll hold our hands up but I honestly think we're on the verge of something. "When that Champions League music plays every season I want Rangers to be part of it."The Ibrox club are also considering a Stock Market flotation. But Murray emphasised firmly: "If we do it then I'll still be in charge. "I've seen what happens with other clubs where control changes hands and that won't happen with Rangers." And Rangers are working on other money-spinning ventures via the internet and pay-per-view TV. Murray has been working for months on this package. He said: "This is not a begging letter to the existing shareholders and I'll understand if some of them don't want to take part. It's not for widows and orphans to join in." The Herald, May 2000 KEN GALLACHER Murray's Blueprint Just as promised, Rangers are moving on to another level from the rest of Scottish football, as chairman David Murray announced a new investment of ã53m for the Ibrox club, with a further massive cash boost soon to follow. The eventual cash injection could soar as high as ã80m as Murray guides the club into what he believes will be a new, golden era for the Scottish champions. The money involved, the biggest financial boost for any Scottish football club, will enable them to move into Europe's elite over the next few years. Yesterday, however, Murray maintained, as always, that he will not turn his back on Scottish football to play in any other league, and that while he remains in charge of the club, he will retain a responsibility to the domestic game." It is clear from this latest move, however, that the Glasgow giants are setting an agenda that no other Scottish club can match - and that appears to include their Old Firm rivals, Celtic, who are trailing by 15 points in the Premier League championship and are now looking at a financial gap which the Parkhead club might not be able to bridge. There have been hints around Glasgow that Celtic could be ready to attempt a share flotation of their own, but it would seem unlikely they would be able to match the financial clout that Murray has put together. The Ibrox chairman promised his shareholders good news and a more prudent financial strategy at the last annual meeting of the club. He has now delivered this by taking on board several very heavy financial hitters, South African-based David King is worth around ã300m - ã20m of which he is investing in the club he followed as a young man in Glasgow." The Ibrox chairman has spent several months and many sleepless nights piecing together the plans which will eliminate Rangers' debt, currently sitting at around ã40m, provide finance for the new training centre and the soccer academy which will be housed there, and still allow cash to invest in new players. He said: 'I want to make it clear from the outset that while our small shareholders, our supporters who have an interest in the club, will have the opportunity to invest again if they want, there is no pressure on them to do so. The bulk of the rights issue is being taken up by myself and David King and some other smaller investors, including Alastair Johnston, who is a long-time Rangers' supporter.' Andy Devlin, The Sun 27 November 2000 RANGERS are on course to become one of European football's biggest clubs after revealing a turnover of over ã51million for last year. Murray said: "As a result of the rights issue and the PTV agreement, we closed the year with funds in excess of ã21million. The Rangers brand still has further potential value with the strength of our management team and worldwide supporter base. Iain Dey, The Scotsman 13 December 2002 'Scottish football is bust' says Murray "Football is bust," Murray said. "Rangers and Celtic will survive because they're brands. I've got a 50million pounds debt at Rangers. But we can service that, and we can pay that back because we've got a stadium, we've got a training ground, we've got players. But at other clubs which have got debts, you wonder how that can ever be repaid. There's no assets. "Rangers' stadium and players could be worth ã100-ã150million depending on what day of the week it is and how you want to value it. That's the business." James Traynor, The Daily Record 21 June 2003 We're not as broke as some folk say Rangers' honorary chairman decided to suspend his self-imposed silence to talk exclusively to Sports Record so that Rangers fans could deal with the "truth" rather than rumour and conjecture. He also went out of his way to stress his commmitment to his club remains strong even though he is no longer chairman and it was clear the rumours about his lack of concern had cut deeply. Murray can be cold and brash, but he believes that if he is guilty of anything then it is over ambition for Rangers. "If that's a crime then it isn't such a bad one is it?" he asked before letting fly in all directions spitting out words like bullets. First, he spoke about the level of debt and said: "People talk about our debt being as high as ã70million or ã80 million, but that just isn't the case. "It's nonsense, although we do have a high level of debt, but we can manage and it will peak at ã60m to ã65m for everything, players, training facilities, shops, the lot. We will work to reduce our debt and we have a four-year plan in place to take us forward. Of course there is a level of debt which we will not go above, but I've made a commitment to have the Murray business help out if and when the club needs assistance. For instance, if at some point in the new season Alex McLeish needs a player or players in a hurry then he will be given the money. "He already has Capucho signed up, Michael Mols has agreed a new one- year deal, and Zurab Khizanishvili has been offered a contract with the Georgian having to decide over the weekend and by Monday at the latest." Although he refused to divulge the amount his busines empire will plough in to help Rangers my belief is there will be a credit line which could rise to ã20m as Murray tries to make sure his club and manager don't have to go empty handed despite the severe financial restrictions which currently afflict the game.
