Dave King reveals investments and says Rangers could sue Sports Direct for compensation

It's Dave King statement day, everybody! Settle in, and let's hear what he has to say.

The Rangers chairman posted a message on the official website in the interests of transparency to supporters, and it covered many topics. Among them were:

• The club invested in building a new team in summer, made funds available in January if the manager wanted them and will now back him as he looks for players to get in the summer. Well, we knew that already.
• Auchenhowie has received "substantial investment" and is no longer "broken" but "fully-functional." More investment is planned.
• The infrastructure and facilities at Ibrox have also been invested in, but need a lot more, and there's plenty of work to be done on that.
• An "unanticipated investment" was made to pay off Sports Direct, notice has been given to end the relationship, but - crucially - also reserving the right "to proceed with challenges to the existing suite of contracts and side agreements in a court of law."
• Here's where it gets very interesting. The club will "put Rangers first and ensure that we get redress and compensation for the poor commercial and business practices that the club has been forced to endure."
• Work is continuing to merge the supporters' groups.

All in all, some very interesting stuff in there. You can read the full statement here. There's no doubt that King can be a wee bit guilty of bluster and bombast at times, but this is very solid stuff and leaves us very optimistic for the future ahead.