DAVE KING reckons a burgeoning business model in the transfer market has been a game-changer for Rangers that will allay any fears over future finances at Ibrox.
The former Light Blues chairman was the main money man behind the building of the squad that Steven Gerrard guided to European achievement and the historic 55th Premiership title.
Three members of that group - Nathan Patterson, Calvin Bassey and Joe Aribo - were subsequently sold for significant sums as Rangers banked around £40million in transfer fees.
Patterson clinched a move to Everton just months after lifting the league crown, while Bassey and Aribo were integral parts of the side that Giovanni van Bronckhorst steered to within touching distance of the Europa League silverware.
And King is fully aware of the importance of European action in raising the profile and prices of the most prized assets at Ibrox as Rangers aim to continue reaping the rewards of their trading model in the transfer market.
King said: "I think it has [been a game-changer] because when we were looking at our initial comeback it was still about putting enough funds in to get the club stabilised and then try to get it on a sustainable basis.
"And a sustainable basis required something like this to happen where we get into Europe, start to profile some of the players so that other clubs start to put value on the players.
"In the last couple of years, even as we had improved, when we had new managers coming in, including someone like Steven, the challenge we always had was that when the new manager wanted to spend money, we could never get value for the outgoings.
"That was always the problem. It was always net new money every single time.
"Whereas now, a balance is there whereby the profile we are getting by bringing players in, they are doing well in Europe.
"Look at Bassey. I mean, what a season from a guy who was let’s say a fringe player at the beginning of the season.
"To be sold for a record club transfer fee at the end of the season... it has just been phenomenal. And that would not have happened without European success."
The sales of Patterson, Bassey and Aribo, plus the funds received when Gerrard moved to Aston Villa in November, have boosted the bottom line at Ibrox and put Rangers on a sound financial footing.
Cash banked from the run to Seville has now been added to thanks to a Champions League jackpot this term and King is encouraged by the progress made after playing his part in funding significant losses on the road to recovery.
King said: "From the club’s point of view, I think we have certainly crossed the tipping point now.
"If there was any concern about the fragility of the funding, and can we keep it going, the success in Europe last year and the success in Europe at this early stage of this year is now a tipping point where the board can at least confidently start to plan.
"There is surplus cash there. The board can decide to spend it or not. I can’t think why they wouldn’t spend it.
"But if they don’t spend it, they are going to be running up a kitty. I really feel as if we have finally got through that barrier of having any concern whatsoever about finance. I think that’s behind us now."
