The proposed Dave King deal at Ibrox has fallen through.
No agreement could be reached and it is understood Rangers CEO Graham Wallace couldn’t recommend the proposal to the board without proof of funds, answers to legal questions about SFA and AIM “fit and proper” status in relation to Dave King and a failure to identify Murray and Letham’s backers.
There was no meeting in Glasgow as reported by the media and Dave King is believed to be headed back to South Africa.
This means that any solution to cash flow issues at Ibrox will have to be found without King’s involvement.
Dave King should be commenting shortly to confirm he is out of the picture.