The Rangers board is to reject Dave King's offer to return to the club as chairman.
The Rangers Review reports that the South African-based businessman will not be returning after his dramatic announcement last night.
His hopes of a return have been dashed by the Ibrox hierarchy, as key investors have rallied around the club following the resignation of John Bennett for health reasons.
King stepped down from his previous position at the Scottish Premiership club four years ago.
He believes he's the best man for the job as Rangers' search for a replacement for Bennett goes on.
It's believed there is no desire among established figures at the club to reach out to King for his services.
John Gilligan - who was King's ally when rescuing the club in 2015 - is leading the club in the chairman role on an interim basis.
It's understood he will continue in the role for as long as required.
“I think I might be the best person to do it for two years,” King said. “I don't want to do it for four or five years. But I know the club well enough and I do think it's a two-year job.
"I wouldn't be looking to invest more money in the club. I don't think that's the way forward for the club.”
Read more:
Meanwhile, King would be keen to speak to Rangers manager Philippe Clement and find out what he’s been promised by the existing Ibrox board.
King could return to Rangers as chairman following John Bennett’s decision to step down with immediate effect over the weekend.
The South Africa-based tycoon has never had a conversation with Clement, who replaced Michael Beale in the hot seat last October, but believes such talks would be positive, and he’s asked if the Belgian is up for the long-term challenge of turning Rangers’ fortunes around.
