Dave King Statement

I have issued a select number of statements to give supporters a reliable update on the progression that your board committed to almost two years ago.

Some of the content relates to a subject matter that the Club would normally only deal with at our AGM or results announcements. However, under the circumstances, I feel that inclusion is appropriate to ensure that supporters are properly informed and don’t have to rely on uninformed media speculation.

or the avoidance of doubt, I repeat the key elements;

We would invest sufficient resources to ensure immediate promotion to the SPFL.
In season two we would further invest to be competitive in the SPFL and qualify for Europe at the end of the season. Our realistic expectation was to come second. This was to be achieved by signing five or six players of a quality that improved the squad that won the Championship.
In season three we would again invest in five or six players that further improved the squad to compete for the title and progress in Europe.
I personally estimated that we would require an investment of £30 million over that period to achieve our stated objectives.

We hired, at short notice, a relatively untested management team that recruited a number of players and introduced a style of play that was pleasing to our supporters. Significant investment was made on and off the park and the Championship was ultimately won in some style. The season was an unqualified success and the management team was rewarded with a vastly improved contract.
This season we did not stick to our plan of signing five or six players because the manager appealed to the Board for additional signings. Despite the concern about departing from our plan of prudent phased investment, the Board backed the manager’s request for accelerated investment. This placed us significantly above the football resources available to our competitors (other than Celtic) and was expected to ensure that we finished a strong second in the league and had a squad that could be added to, close season, to make a strong impact in the Europa League qualifiers. While I still believe that we can finish a strong second, I am stating the obvious to admit that we are not where we anticipated we would be at this stage of the season and we have not repeated the success that we had with our signings from the previous season.

See the rest here https://rangers.co.uk/news/headlines/statement-dave-king/