DAVE KING insists Rangers won’t cash in on Alfredo Morelos during the January transfer window and he wouldn’t sell even if a £40million bid was made for the striker.

The Ibrox chairman used his speech at the RIFC plc AGM on Tuesday morning to announce that he will step down from his post after almost five years at the helm.

King received a standing ovation from the supporters and shareholders present at the meeting and will hand over the Gers reigns in the coming months.

He will remain in charge of the Light Blues during the next period of wheeling and dealing as boss Steven Gerrard and Ross Wilson, the newly appointed Sporting Director, look to strengthen for the second half of the season.

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But King won’t entertain any approaches for prized asset Morelos as he targets the Premiership title and domestic silverware this term.

He said: “I would say to you that I can’t imagine a circumstance where we will sell Alfredo. I’ve said to the manager, if you get £25m (offered) for him, £30m, I wouldn’t sell him. You make your decision.

“I don’t want money in the bank. We’re here to win league titles.

“I made the point – we’re not like a mid tier Premier League club who can trade players, make good money but are not under any pressure to win the league.

“The most important thing for us this year is to have the best shot at winning the league.

“I would rather keep Alfredo. If they offered £40m and the manager came to me, I’d be saying my instinct would be to keep him.

“We know he’s going to score goals. My view is not to sell him under any circumstances. And there would be no financial pressure whatsoever to sell Alfredo. So I think I can safely say Alfredo will not be going anywhere in January.”