So it finally happened. Dodgy Dave King, who has spent the last few years waiting on his big Club 1872 pay-day finally did walking away.
He’s had a deal with them to enable them to buy his shares for quite a while now, and today he’s released a statement terminating that agreement because they have yet to take him up on it and he sees no prospect that they will.
Where this leaves him now is anyone’s guess but he has finally twigged to the fact that all that equity confetti has come at a cost. To him. Which to me is quite amusing for any number of reasons. What that man has done is as close to a con on the folks at Club 1872 as you will ever see, and he’s not alone in that but he bears much of the responsibility.
Those guys should have a shareholding well above 15% right now, and King’s shares should have enabled them to move into a position where a quarter of the club was under their control. But every time they issued shares – and much of that was done under him no matter what he blames the current board for – the strength of Club 1872’s holding went down.
I hold to the view that Club 1872 was, at the very least, woefully let down. I think that in fact they were probably wilfully misled at a time when the club wanted their money.
There was never any intention on the part of the directors to let these guys acquire that sort shareholding and those at the top of the club knew full well that their intention was to fund the club using equity-swap deals, and so every person who put money into Club 1872 was, in my view, done up like a kipper. I’m not alone in believing it.
A lot of Ibrox fans believe exactly the same thing. There were thousands of them putting their money into Club 1872 at the start; when they realised what was going on they stopped doing it pretty damned quickly. They know that buying shares means nothing when the club directors can, and do, dilute the value of them with such regularity.
And so King departs without getting his cash, and his statement basically blaming fans for not showing intent, the economic climate for not being kind to him and his fellow directors is hilariously self-serving, as per usual. Even funnier, he does not believe that opening up the sale to the wider Ibrox support would make any difference.
He knows what their board still has trouble grasping; these fans have been used and abused to the point where they are completely tapped out.
Still, what is hilarious here is that King is flinging around enough blame to blanket Glasgow South and he cannot grasp that he is partly responsible for the mess he finds himself in. The board won’t have him back and now, with shares he doesn’t want and which are essentially useless to him he’s trapped as someone with authority but no influence.
I find it deliciously funny. What a shambles, and his own damned fault.
Scud Missile says:
February 14, 2023 at 7:09 pm
John S says:
February 14, 2023 at 7:13 pm
James Cullen says:
February 14, 2023 at 7:19 pm
Johnny Green says:
February 14, 2023 at 7:27 pm
king murdy says:
February 14, 2023 at 7:33 pm
Voice of Reason says:
February 14, 2023 at 7:48 pm
Johnny Green says:
February 14, 2023 at 7:49 pm
Johnny Green says:
February 14, 2023 at 7:57 pm
Ryan Ellis says:
February 14, 2023 at 8:37 pm
Kevan McKeown says:
February 14, 2023 at 8:51 pm
February 14, 2023 at 9:00 pm
Johnny Green says:
February 14, 2023 at 9:39 pm
Bob (original) says:
February 15, 2023 at 11:44 am
Now if ever there was a con going on it was with the CHISLER and those chancers fronting klub 1872.
The writing was on the wall for them last week when 7 yes 7 punters showed up for meeting,I’m quite surprised the meeting never took place in a phone box it would have saved them a couple of penny’s on whatever venue they held that meeting at.
Was Halloween Houston and and the BIGOT Graham guy peace be upon him not fronting klub1872 at one point.
It’s like drivers complaining when stuck in a traffic jam.
So how much has the south African lost financially ?
For me, dodgy Dave won’t be walking away from club 1872 because he does not see them purchase his shares….
No….I believe Dave has another buyer…probably someone either already on the board, who will aquire those shares at a real low price…but still more than they are worth.
Or perhaps he has buyers in the American Market….
Just a couple of possibilities…..but worth a look at.
For what it’s worth, Dodgy Dave invested and led the way on equity shares….and that is still partly.going on…but he must realise the new UEFA FSRules are there to STOP clubs cheating…not at a club level…but at a EUROPEAN level….because the new laws mean refusal of a licence for failure to operate within your own financial bubble….in effect, meaning the RICHEST clubs will gain admittance…
It’s still a club operating on losses….and big dodgy dave…the fraudster that the SFA said was fit and proper, is about to pull another stroke in my opinion.
If he isn’t, then he’ll mend him….he is only being bitten by the snakes he nurtured
Despite his convictions for fraud and money laundering, the huns decided that he was THEIR glib and shameless liar. Hell mend the fkn lot of them, it was never going to end well and he played them like a fiddle.
the more huns lost their money to this club 1690..thingy..or whatever it is, the better….
they are all scum….every supporter ,player ,director, staff member…every effing 1 of them…
Good Auld Dodgy Dave, u gotta Luv him lol! Whit the Knuckodraggaz have NEVER been able tae Fathom is this LYIN Bastard is only in it fur eezsel & him alone!! Has awready creamed them fur 800k interest, go on Dave give us Ranjerks v3 BAWAHAHAHAHAHA!!
Remember when he promised to get them out of liquidation and stop the abuse and embarrassment they were getting from their detractors and truth telllers. PMSL, that was a brammer, he was going to unliquidate them, and they fell for it hook, line and sinker. 🙂
I wonder after the Unliquidation, would the new club have given the auld club their history back that they had stolen from them.
I don’t think the problem is that they’ve been ‘tapped out’. It’s that they’ll never hand over their cash unless it’s to a sugar daddy like Craig White, although he was more of a gingivitis pimp!
@ ryan Ellis. Aye apparently his dentist told him his teeth were ok but his gums had tae go.
I’ve been publishing these facts for nearly 2 years and finally the penny has dropped at Club 1872 .
Since 2016 when they had acquired just under 5 million shares their Overall Shareholding was 6.01%
They have since quadrupled their shares to over 22 million but their Overall Shareholding has dropped to 5.09% of the Overall Shareholding .
That’s around a 350% Increase in Shares to achieve a 0.92% decrease in overall shareholding.
Any lurking Gullibilly’s out there interested in purchasing a fresh crisp £100 note for a £1000 cash let me know.
If it was a fresh crisp ‘orange’ £100 note they would be queuing up, sad fukkers!
Oh dear, what a pity, never mind!
So, the largest single shareholder of the Ibrox club remains:
a convicted criminal for tax fraud, who was also “cold shouldered” by the City.
With those credentials…King should always be a perfect match for sevco?
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