Dave King’s hopes of a dramatic return to the Ibrox boardroom have been dashed as the Rangers hierarchy and key investors rally round the club following the departure of chairman John Bennett.

King revealed this week that he would be open to a sensational return to Rangers four years after standing down from the top table. The South Africa-based businessman believes he is the best man for the job as Rangers search for a replacement for Bennett after he stepped down due to health reasons.

The Rangers Review understands that there is currently no desire amongst established figures to reach out to major shareholder King and ask him to sit at the head of the board for a second time. It is King’s former boardroom ally John Gilligan that is now leading the club following his appointment on an interim basis.

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It is understood that Gilligan – who wrestled control of Rangers alongside King and Paul Murray in 2015 – will continue in the role for as long as is required and will oversee the search for a fifth chairman since regime change.

“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.”

In a wide-ranging interview following Bennett’s departure, King expressed his belief that there was ‘investor fatigue’ within the Ibrox boardroom. Sources have dismissed that notion, however, and insisted that the current corps of money men are committed to funding the club going forward, while also remaining open to the possibility of future outside finance.

It is understood that Bennett – who has invested more than £20million into the club – will be a financial backer when required despite leaving the boardroom after a year as chairman. Bennett holds a 5.51 per cent stake in RIFC plc and is the sixth largest shareholder at present.

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The departure of Bennett leaves Rangers without a permanent chairman and chief executive officer after a move to appoint Jim Gillespie fell through earlier this month. Rangers have enlisted the services of a recruitment agency to scour the market and will return to the previous list of candidates as a starting point and look to progress with the process as a matter of priority.

Gilligan was in attendance at Tannadice on Sunday as Philippe Clement’s side beat Dundee United in the Premiership. He returned to Ibrox the following day to meet staff and also sat down with the Belgian as attentions turn to the visit of Dundee in the League Cup this weekend. The board remain fully committed to Clement despite the Champions League exit to Dynamo Kyiv and Old Firm defeat against Celtic.

“Yeah, that's not something that you want, of course,” Clement said when asked about Bennett’s decision to stand down. “So I heard from John as probably one of the first to hear about that during the week. He explained everything to me.

"It's not his decision. it's a doctor's decision. So it's with a lot of pain in the heart that he had to make the decision. And I wish him all the best to recover as fast as possible. But he will not be away. He will be there at a distance, but he needs to keep a little bit of distance now to recover first.”