But it must also be said that his tenure also coincided with Rangers' worst-ever run of competitive results and a record string of Old Firm defeats.
One brief, unmitigated disaster later, Rangers were returning to the man who self-evidently could not win the trophy they most covet.
"It was agreed that the SPL would work with the Scottish FA, SFL and Rangers to facilitate Rangers FC taking their place in SFL Division 3 this season," the SPL said in a statement.
The consortium also needs administrators to secure the 85% stake of the current Rangers owner, Craig Whyte.
The consortium, led by the former Rangers director Paul Murray, has been in the frame to buy the club since it entered administration in February.
Rangers had threatened to run over the top of their city rivals within five minutes as the youngster Jamie Ness crashed home a terrific long-range drive and Steven Davis shot against the Celtic crossbar.
A 3-0 defeat at home against rivals Dundee was one of four defeats between the trip to Romania and prior to the New Year, as the team slipped five points behind leaders Celtic (in the days of two points for a win) and also dropped below Rangers into third.
King had also claimed it is "inevitable" that Rangers will go into liquidation.
Rangers' players are continuing talks with administrators over proposed wage cuts.
The identity of the teams and the nature of the result seem to imply that Rangers had somehow come through an ordeal full of terror.
Despite their frequent failure to impose themselves, Rangers contrived and, inexplicably, squandered opportunities to extend their advantage by a convincing margin.
