Dave King 'very concerned' by Rangers failure to plough unexpected millions back into transfers

Dave King has accused the Rangers board of frittering away the chance to build a lasting title legacy at Ibrox by failing to reinvest in the squad.

Just over a year on from romping to the club’s first Premiership success in a decade with a 25-point winning margin under Steven Gerrard, Rangers again find themselves trailing in Celtic’s wake. And former Ibrox chairman King believes his former boardroom allies must take responsibility for the position they now find themselves in after Saturday’s brutal Old Firm dismembering.

The Gers have banked around £100million over the past year with their European exploits and sales of star assets such as Nathan Patterson, Joe Aribo and Calvin Bassey. But boss Gio van Bronkchorst has been given just a fraction of that sum to rebuild his team and it showed as the lacklustre Light Blues suffered yet another Parkhead pummelling from Ange Postecoglou’s red-hot Hoops.

Speaking from his Johannesburg base, Castlemilk-born tycoon King said: “If I go back to the end of last year when the club presented its accounts and Douglas Park and Stewart Robertson said the club was going to be profitable this year.

“That benchmark for profitability for this year did not include Nathan Patterson’s transfer, did not include at that stage reaching the group stagesof the Europa League, did not include running to the final of the Europa League, did not include this season getting into Champions League.

“If I add all the bonuses and pluses we have got from a situation that was already profitable, I am just very, very concerned that I am not seeing these funds being channelled back into the team. If I go back to title 55 and where we were as a club relative to Scottish football, we dominated that season.

“We