Ibrox side Glasgow Rangers are in disarray at the moment.
Celtic ended Rangers' season on Sunday by thrashing them 4-0 at Hampden Park in a Scottish Cup semi-final.
Manager Graeme Murty, hired on a short-term basis in December, was subjected to a behind-the-scenes verbal assault by Lee Wallace and Kenny Miller after the defeat, while Andy Halliday also publicly criticised Murty immediately after being subbed off.
The 43-year-old was given the job after King and his colleagues failed to replace Pedro Caixinha after the Portuguese's disappointing reign as Rangers boss.
And Boyd feels that Murty is now being scapegoated for King's "incompetence".
"I’m sorry, though, the problems at Rangers right now start at the top. I have been saying it for months but, in my opinion, Dave King is guilty of gross mismanagement," he wrote in The Scottish Sun.
"If you ask me, it’s high time he had some major questions asked of him. Although maybe someone on that Ibrox board should just pay him the £20million he supposedly lost to David Murray and watch him go.
"I just don’t think his chairmanship of Rangers has been good enough. He sanctioned the appointment of Pedro Caixinha — which was doomed from the very beginning — and was then to blame in the negotiations with Derek McInnes.
"Now Murty is being left to carry the can for King’s incompetence."
Boyd does have a point. After all, there was a period of nearly two months in between Murty's short-term appointment and Caixinha's sacking, with the failure to attract Derek McInnes in between both, and that debacle reflected very poorly on the Gers.