Rangers look to calm investment fears after Dave King departure

Image: Rangers are confident future investment is well advanced

Rangers have looked to calm supporters fears about investment following the departure of chairman Dave King.

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The club say the funding plan is "well advanced" despite King insisting future investment had been put on hold.

King said: "At my final board meeting in Glasgow on March 14, the board was close to finalising a new round of funding, however this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus.

Image: Rangers confirmed Dave King's expected departure on Friday

"The subsequent severe developments within the sporting and general business environment that have now resulted in global lockdowns has necessitated that the careful financial planning assumptions presented on March 14 are revisited."

Rangers later announced John Bennett would be Park's deputy chairman and sought to reassure supporters over their finances.

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A statement read: "RIFC is pleased to confirm that the funding plan announced at the recent AGM is well advanced, with significant investment already received and further commitments in place."

Rangers added that Bennett's "consistent investment in the club is set to continue, with further funding in the coming months".

Park said: "It is a privilege to take on this position at the world's most successful football club. We have experienced some difficult days but have emerged stronger than before.

"On behalf of the board of directors, I welcome the continued enthusiasm towards contributing to the future success of the company and club. We will make further public comment in due course."

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