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Breaking: Dave King makes £13m Rangers share offer

Dave King has made his legally-obliged offer to buy £13m of shares in the club.

Rangers v Motherwell - Betfred League Cup Semi Final Photo by Ian MacNicol/Getty Images

Dave King has tabled his offer to Rangers shareholders to buy shares as legally obliged after his recent court case.

King has set aside £13m for the offer, which he was forced to make after being judged to be in a ‘concert party’ with other investors.

However, the price at which he has been compelled to make the offer is considerably below the market value of the shares, so it’s relatively unlikely many investors will actually be taking him up on the offer.

Rangers will of course be pursuing a share issue in the near future to allow more money to be invested in the club, particularly from the likes of Club 1872, who are looking to increase fan shareholding yet further.

Overall, there’s not really much to see here - well, apart from the ‘Dave King is skint and won’t be able to make the offer and Sevco will go bust!!!’ predictions being wrong, but you knew that already.