King: Board broke promises
Former Rangers director Dave King has urged fans to follow through with plans to withhold their season ticket money.
In a strongly worded statement, King accused the club's board of reneging on their promise to hold a business review and says he was wrong to give them the benefit of the doubt.
Having held a meeting with the Ibrox board last month, King stepped back from his initial proposal for fans to put their season ticket money into a trust fund until the club had outlined their spending plans.
However, following further talks with chairman David Somers, King has reverted to his original stance and advised fans not to buy club merchandise.
Rangers began offering season-ticket renewals on Wednesday and set a May 6 deadline - but King says chief executive Graham Wallace's business review will not be published until the end of that period.
In a statement, King, who lost a £20m investment in oldco Rangers prior to their liquidation in June 2012, said: "The board (had) recommitted to issue the business review within the original 120-day deadline and, importantly, committed that the fans will have access to this review prior to advancing funds by way of season ticket renewals.
"Despite strong reservations from fan groups, I asked the fans to give the board time to honour this commitment.
"I followed up on this commitment with the board after the recent announcement on season ticket renewals.
"The chairman has advised me that the board will now only issue the review at the end of the season ticket renewal period and it will consequently not be timeously made available to fans.
"Disturbingly, the chairman has advised me that the true intention of the board had always been to delay issuing the review until funds had been largely collected.
"I apologise to all fans for wasting time by lending credibility to the board's false representations, I was wrong to give them the benefit of the doubt. At least we now can no longer have any uncertainty about the governance at the club.
"Due to this extreme act of bad faith I believe that it is vital that fans now withhold season ticket money from this board and similarly refuse to support the club by way of the purchase of replica kit or any other retail product.
"I recognise that fans will have anxiety about 'betraying' the club and the risk of loss of a cherished seat at Ibrox.
"However, the time has come when the trade-off is a potential loss of a seat against the loss of the club. That would be the real betrayal. This board has lost its right to be dealt with on a good faith basis."
King says former Rangers captain Richard Gough has agreed to act as a custodian of the proposed bank account and that fan groups may nominate additional members.
Rangers have been made aware of the statement but have yet to respond.