SFA take issue with King’s Ibrox takeover

SFA Chief Executive Stewart Regan last night insisted Dave King will have to prove he is a fit and proper person to take over Rangers.

The South African millionaire has flown into Glasgow to hold talks about his involvement with the Ibrox club.

He was at Bayview yesterday to watch Ally McCoist’s side defeat East Fife 4-0, and has held meetings with all the parties hoping to take the Ibrox club forward.

But Regan made it clear King’s previous business dealings in his homeland, and the fact he was involved in the Rangers Board when the club entered administration, will be taken into consideration.

King, who invested £20m when Sir David Murray owned the club, and remained on the board during the ill-fated reign of Craig Whyte, is exploring a return to Ibrox and has talked of his ambition to be chairman.

The would-be Rangers saviour has been embroiled in high-profile tax issues in South Africa, pleading guilty to 41 charges and agreeing to pay £43m to Revenue and Customs.

And Regan said: “Any suggestion that he has no issues as far as the SFA’s fit and proper test is concerned is a little premature.

“It is a matter that would need to be discussed by our Professional Game Board.

“It is very clear whether someone complies with, or doesn’t comply with, the fit and proper requirements.

“It is written down in Article 10 whether someone has convictions, whether someone has been bankrupt, whether or not there have been any other inappropriate actions.”

The Ibrox club reported operating losses of £14m in the 13 months to June, and there is nothing to stop King from investing in the Scottish League One club.

Regan explained: “The SFA doesn’t govern the stock market.

“Rangers are a plc shares can be bought and sold and traded on a daily basis.

“What we can control is someone’s involvement in running the club, being on the board and being on the official return.”

King says he has held over six meetings with various key players involved in the Ibrox club’s power struggle, but made it clear the SFA haven’t been on his agenda so far.

He explained: “I haven’t even approached the SFA. The comments I gave when I arrived were in relation to the AIM requirements and were nothing to do with the SFA.

“But I’m certainly very happy, when the time comes and we’ve something to put towards them, that it’ll be fine. We just haven’t got to that point yet.”

Ally McCoist met King after his side’s victory at East Fife.

He said: “It’s been a while since he’s been at a game, so if we keep winning, I can tell him to keep coming back!

“But we can’t have any impact on any planned meetings.”