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Showing results for tags 'douglas park'.
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http://www.bbc.co.uk/sport/0/football/30674489 -
Thought it might be a good idea to start a thread where we actually list who owns what as disclosed to the LSE , or at least those over 1% . River& Mercantile- 5.77% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12205385.html Kieran Prior- 1.35% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12205407.html Dave King - 14.75% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12202893.html (Not including possible rumoured further purchase from R&M ). George Leatham -4.05% , http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12202893.html George Taylor -9.3%, http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12202187.html Douglas Park?-6.14%, http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12201386.html BNP Parabis - 5% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12107289.html Richard Hughes -3% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/11834364.html Mike Ashley ,8.92%,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12104057.html Sandy Easdale, 5.21% total inc proxies 26.15%,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12093157.html Please feel free to add when the rest are released
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http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12241662.html
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...ahead of much-anticipated Ibrox EGM 07:42, 1 February 2015 By Scott McDermott KING landed in Glasgow last night as he attempts to galvanise support ahead of the EGM but the former Rangers director won't be at Hampden for the League Cup semi-final against Celtic. DAVE KING jetted into Glasgow last night – but WON’T attend Rangers’ League Cup clash with Celtic at Hampden today. The former Ibrox director flew in from South Africa and will spend a week in the UK to galvanise support ahead of the much-anticipated Ibrox EGM. King will attempt to convince the club’s shareholders in Scotland as well as its investors in London to back his bid to remove the current Ibrox regime. The Rangers board have until Friday to announce a date for the EGM. King believes he can gain 51 per cent of votes to eject chairman David Somers, chief executive Derek Llambias, finance director Barry Leach and James Easdale from the top of the marble staircase. King’s wants himself, ex-director Paul Murray and former brewery boss John Gilligan to take over. And he’s hoping his latest visit will ensure his group – along with the Three Bears consortium headed by motor mogul Douglas Park and the Ibrox fans – have the required support. MailSport understands that King will decline the chance to be at Hampden for this afternoon’s Old Firm derby. http://www.dailyrecord.co.uk/sport/football/football-news/battle-rangers-steps-up-dave-5082369 -
...bring back memories of administration at Ibrox. AFTER Mike Ashley stepped up his Ibrox power grab with another huge loan this week KEITH asks; is the Sports Direct supremo actually asset-stripping Rangers or is he preparing to negotiate with a new board? IS Mike Ashley asset-stripping Rangers ? That’s the question asked under parliamentary privilege at the House of Commons on Tuesday and one the Newcastle owner will have to answer if, as expected, he is summoned to attend a Westminster enquiry . On the face of it, there seems a strong case for the prosecution. In the last few days, and without even stepping foot in Glasgow, Ashley has managed to sweep through Ibrox, scooping up just about everything of value that wasn’t nailed down. Had he bothered to turn up in person he might have made his way home on the famous old St Etienne bike, testing the integrity of its 37-year-old frame to the full. Integrity. Now there’s a word that might cause Ashley more discomfort than half an hour on a racer’s saddle. There are 7.125billion people on the planet. Only 292 of them have more money than Ashley. And yet this champion of the zero hours contracts dumped 200 workers from his high street fashion store USC on to the dole just after Christmas without so much as a lump of coal for a thank you. Integrity? In Big Mike’s world that’s for wimps. Little wonder then that he has acted so brazenly in his Ibrox power grab. With one hand he has fed Rangers with a succession of life-saving drip-feed loans while with the other he’s throttled it into submission. His latest £10million handout was his way of parcelling up an entire institution into one of those vulgar, oversized Sports Direct carrier bags. As bargains go, this one takes some beating. For the price of a fully repayable loan (or in other words for not a single penny) Ashley controls every last bit of Rangers FC, from the old boardroom to the dressing rooms inside Murray Park. His commercial contract has been massively beefed up – Sports Direct now own 75 per cent of the club’s own retail company – which means the badges and crests are now in Ashley’s name too. Also as part of the new agreement, if Rangers should strike a multi-million shirt sponsorship deal, the vast majority of that money will go straight into Ashley’s back pocket. So, in summary, a business already teetering on the verge of insolvency has now taken on a mountain of new debt, while giving up huge chunks of its only existing revenue. Now I’m no Lord Sugar but even so, the logic being applied here seems so flawed that it’s bordering on insane. This business now has its bare toes curled around the summit of Everest, having pawned off its safety harness. With one puff of his chubby red cheeks, Ashley could blow the whole thing into oblivion. In fact, this latest decision by a board which is itself not fit for purpose has a very familiar and nasty whiff of madness to it. And the similarities don’t end there because another red flag was raised in Tuesday’s Stock Exchange statement and it came in the form of two words that became part of the Rangers discussion during Craig Whyte’s chaotic end of days – floating charge. Now Ashley too has placed a floating charge over the club’s assets and although this may be purely coincidental, while his motives and strategy remain a complete mystery, it ought to raise the general level of alarm. So is Ashley actually asset-stripping Rangers right in front of the eyes of its supporters? Or is this latest move the latest part of some other plan for the Ibrox club? Those who study Ashley’s dealings closely describe him as the ultimate high-roller poker player. They are quick to point out too that, deliberately inserted into Tuesday’s statement, was a line about all of these agreements being reversible upon repayment. It could be, in tieing up all of the above, Ashley is merely about to spread them down like a massive pile of casino chips. That he is preparing for defeat at an egm in the knowledge that Dave King’s requisition already has majority support among the club’s shareholders. Certainly, if any of these city types were previously undecided as to which way to cast their votes, the terms of Tuesday’s £10m loan shark deal would have helped make up their minds. If anything, by accepting Ashley’s deal over a rival offer from Douglas Park, George Letham and George Taylor, the board may have significantly bolstered the mood for regime change. Where the numbers are concerned, King’s hand has just been strengthened. Even so, Ashley heads into this showdown holding all the aces. Even if the board is obliterated, King will still have to deal with the man who controls the club’s assets. And Ashley will call the shots. What he will not do is roll over. He’s had serious skin in this Rangers game for too long to fold now. Ashley has been at the table for more than two years, ever since he handed £1m to Charles Green in advance of the £22m IPO of December 2012. Sports Direct has been stuffing its tills with blue pounds ever since courtesy of Green’s incredible generosity. His old pal Derek Llambias was even invited into Ibrox around the same time to strike a deal which saw Ashley buy the stadium’s naming rights for a pound. Llambias now sits at the head of the board in his role as CEO but he too has been around this saga for longer than most will have realised. He owns 51 per cent of a PR firm called Keith Bishop Associates who, around the time of that IPO, were invoicing former Finance Director Brian Stockbridge for all manner of sums without ever appearing to engage in any actual PR for the club. Stranger still, these payments were being signed off at a time when Green was hiring his own PR guru. Ironically, Llambias was appointed to the Rangers board late in 2014, not long after the Keith Bishop contract had been terminated by his predecessor Graham Wallace. Intriguing isn’t it? So on Monday afternoon I contacted Keith Bishop, who acts as Ashley’s official spokesperson, by phone earlier to ask him about some of this mysterious stuff. He requested I submit any questions via an email. That email landed in his inbox less than half an hour later. It took him until last night to respond in an email which read: “This company’s relationship with its clients are, and remain, confidential and not open to be discussed in the public domain.” All of which just goes to prove that it’s getting harder and harder to get a straight answer to anything Rangers related these days. So is Ashley really asset-stripping Rangers? Or is he gearing up for a massive game of negotiation poker with King and a new board? That would certainly seem the more logical view. But then again, this is Rangers. Logic left the building some time ago. http://www.dailyrecord.co.uk/sport/football/football-news/keith-jackson-mike-ashleys-rangers-5062140
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The Sun saying he has been banned because he joined RF. Someone asking if Foster has joined yet.
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We are f----d. 27 January 2015 Rangers International Football Club plc ("Rangers" or the "Company") £10m Credit Facility and associated transfer of 26% of Rangers Retail Limited The Board of Rangers announces that Rangers Football Club Limited ("the Club") has entered in to agreements with independent.co.uk/news/business/news/sports-direct-stops-20000-staff-taking-other-work-by-using-zero-hour-contracts-9661746.html Retail Limited and associated companies ("SD"), to provide a long term on-going credit facility of up to £10m (the "Facility"). The Company's financial condition has been perilous for a number of months exacerbated by lower than expected match attendances. The Directors have implemented a cost cutting program with which they have made significant progress. There is however an immediate need for a substantial injection of capital, and the Directors have considered a number of options. The terms negotiated with SD (which are reversible in respect of the Facility) represent the optimum combination of quantum and duration of funding, allowing the Company time to arrange permanent capital which can be used for strengthening the playing squad. The Facility is structured in two separate interest free tranches. GBP 5million will be available immediately for working capital purposes and for the repayment of the credit facilities with MASH Holdings Limited which was entered into on 27 October 2014. All rights and security associated with the MASH facility will be cancelled. The Club will transfer 26% of the share capital in Rangers Retail Limited ("RRL") to SD for the duration of the Facility (the "Transfer"), which will be transferred back, at no cost, upon repayment of all outstanding sums owed by Rangers and its subsidiaries to SD. There is no specified repayment period for the first tranche of the Facility. The Facility is to be secured by (1) a floating charge over the Club's assets and (2) fixed charges over Murray Park, Edmiston House, Albion Car Park, and the Club's registered trademarks. None of the security that is being given to SD covers Ibrox Stadium, which is specifically excluded and remains in the full ownership of the Club, free from any security. SD will also have the right to nominate two directors to the board of Rangers for the duration of the Facility, any such nomination will be subject to regulatory consent pursuant to the AIM Rules and other regulatory bodies. If the entire sum drawn down is repaid, the Facility will be deemed to be terminated, all security will be released, the 26% of RRL will revert to the Company and all rights of SD to nominate Directors to the Board of the Company will cease. The second tranche of GBP5 million, which repayable 5 years after drawdown, will be used, if required, for working capital purposes and is subject to due diligence by SD prior to drawn down. The Company has also agreed that from the 2017/8 season, for the duration of the Facility, any future shirt sponsorship proceeds will be for the benefit of RRL. RRL will declare a dividend of a total of GBP 1,610,000 prior to the Transfer. The Club will use the proceeds of its share of this dividend, inter alia, to repay sums owing to SD in respect of the cessation of onerous leases on unprofitable stores entered into by a previous Rangers management team. RRL is a joint venture between the Club and SD whose business is selling merchandise both on-line and in stores. In the period ending 27 April 2014, RRL made a profit before tax of GBP 1,172,893. SD is a Related Party under the AIM Rules and accordingly the Facility is a Related Party Transaction pursuant to AIM Rule 13. The Independent Directors, consider, having consulted with WH Ireland its nominated adviser, that the terms of the Facility are fair and reasonable insofar as shareholders of the Company are concerned. The Directors would like to thank all the Rangers Stakeholders who showed an interest in helping the Company. Commenting on the Facility, David Somers said: " The Board has sought for some time to establish a long term funding solution for the Company in order to create a platform of stability to build for the future. This Facility begins this process and we very much hope that it will be augmented with further permanent capital in due course. In addition, the executive team have made strides in addressing the cost base of the Company in order to improve our financial condition and working capital profile. We very much hope that we can now move away from having to seek short term funding solutions and can focus our efforts towards investing in the first team playing squad, a return to profitability and to re-establishing Rangers in the top league in Scottish Football and in due course, to European competition. The Board now calls upon all shareholders to rally together to achieve this goal."
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If loans are given by Ashley Ibrox will not be used as security -Sky Sports News.
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I see Rangers First are at over 4k members now, as are the RST The example of Hearts having over 8k members paying in every month was often held up as something we should be quite easily topping with the size of our support Well now we have matched it, and will overtake it at the current rate of sign ups, quite an achievement considering its not backed by the club the way Hearts is I think as the schemes grow, and the numbers look more impressive, people who were not sure will be more likely to say "this could actually work" and sign up Its just a shame in typical Rangers fan fashion its split into 2 factions.. if it was one scheme sitting at 8k and rising steadily every day things would look very rosy for fan ownership imo Any chance of the 2 merging?
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... in his ET interview My headline makes for a good signature. If anything, those currently trying to oust the board have learned (the hard way) that the key is in having enough shares. Let#s hope this goes through, Murdoch sounds rather confident and you'd hope King has done this because he IS confident of success. -
THINK Friday night’s scenes at Ibrox were bad? Well, you ain’t seen NOTHING yet! Rangers fans have had to put up with plenty in the last three years. But giving up the title rights to Ibrox and Murray Park would be a step too far. The aggro after the Hearts game was totally unacceptable. But sell the rights to the stadium and the training ground and the Rangers board will see some real social unrest. Don’t get me wrong — what happened at Ibrox on Friday was out of order. There were a couple of staff I know at Argyle House who were injured when fans stormed the place. That’s completely unacceptable. The fans are right to be unhappy but there’s ways and means of showing it and what went on the other night is taking it too far. It was live on BT and people all over the country saw it. You can argue a lot of the kids who were involved in what went on looked so young they wouldn’t remember who played for the Rangers team of the 90s — me included. Leaving that aside, it wasn’t a proud night for the club. But people have their breaking points. And the majority of fans feel the way I do — that giving up the rights to Ibrox and Murray Park would be suicide. That’s not just because they’d be going to Mike Ashley. Giving them to anyone would be wrong. If Mike Ashley’s going to be around — and everything at the moment suggests he is — why can’t he work alongside Dave King? Like most people, I feel as if there’s something we’re not being told about what’s going on. The club have had three offers from various people, none of which asked for Ibrox to be put up as security, and have knocked them all back. Why? Dave King wants to call an EGM which would see most of the current board removed. There have been suggestions both Dave and Paul Murray’s backgrounds would be a problem. But if that’s the case, and the well-being of the club is the key, why couldn’t Douglas Park be the frontman? If they were to present a united front and take charge, they could pay Ashley’s loan off and all he’d have would be the rights to merchandising. David Somers told the Rangers AGM last month he had not been prepared to use Ibrox as security — but now it’s a great option for a £10million loan. Ashley’s been clever in all of this but that doesn’t disguise what the repercussions would be if he called in his loan. The downward spiral would continue and the club would be looking at a second administration. Fans are already voting with their feet — which, in this of all weeks, is a real shame. I’m desperate to go to Ibrox on Sunday for Fernando Ricksen’s benefit game. It should be a great warm-up to the Old Firm game next week. It’s an amazing cause for an amazing man who’s dear to the hearts of Rangers fans. It’s a fantastic opportunity for older fans to see the likes of Arthur Numan, Marco Negri and Jorg Albertz in action and for younger ones to see names they’ve maybe only seen on TV. I’d love there to be a full house at the game — just as I’d love to see the likes of Ally McCoist and Richard Gough being there. I take the point that it’s not about the nine-in-a-row team and that neither of them played with Fernando. But neither did I. I’m sure the Rangers fans would love to see two guys who are genuine legends being back at the club. It will also give fans a rare chance to see Marco in action. I thought he got a rough ride from people. They thought because he didn’t celebrate his goals wildly that he was a bit of a loner. That was harsh. He had a different personality, sure. But he’s a smashing lad and I’m looking forward to seeing him. http://www.cfclatest.com/2013/01/20/andy-goram-you-think-fridays-scenes-were-bad/
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DAVE KING today insisted he will easily convince both stock market bosses and football chiefs that he IS fit to run Rangers. The former oldco director has called a general meeting to vote on plans to rout the Ibrox board. He will also ask the shareholders to vote in himself, former Blue Knight Paul Murray and John Gilligan as their replacements. The current regime - David Somers, Derek Llambias, Barry Leach and James Easdale - released a statement to the stock exchange on this morning insisting they would fight King's bid. In a thinly-veiled swipe at the Johannesburg-based businessman, they said: "The AIM rules require that all individuals appointed to the board of an AIM company are suitable to be a director of a UK public company." The Castlemilk-born millionaire was forced to hand the South African Revenue Services a cheque for £44million last year in a bid to stave off a tax investigation. SARS claimed he owned £149million but he was spared jail after accepting liability for 41 lesser charges in relation to income tax laws. Both he and Murray will also have to explain their part in the demise of the club after serving on the board under former owner Craig Whyte, who put the club on the path to liquidation in 2012, if they are eventually appointed as part of the SFA’s "fit and proper" person test. But King told PA: "There are no problems regarding the AIM regulations and the issue with the SFA is simple. Only once a director is appointed is an application made to the SFA by the club. "Both myself and Paul will have to deal with our previous directorship at the time that Craig Whyte got involved. Additionally, I will have to deal with my reasons for staying on the board and trying to impose some level of governance during the Whyte era. "I will also deal with my favourable settlement in South Africa. "These are all issues that the SFA rightly has to address in the same way that the SFA has to review the history of anyone who gets involved with a Scottish football team. "That was all considered by me prior to my application - as was the likelihood that the incumbent board will use the media to try to influence the debate by misrepresentation. "The enthusiasm that this board adopts to 'media management' and its failure to act in the interest of shareholders and other stakeholders is exactly why they should be jettisoned in favour of directors who have the requisite business skills and respect for the tradition of Rangers to take the club forward. "History will judge this board as one of the worst the club has ever had. There is not one individual who puts the club above personal interest." King hit back just hours after the board called on him to drop his general meeting and save the cash-strapped club the expense of hosting it. The board's 7am statement added: "If the notice (issued by King) is valid and is not withdrawn, the directors intend to recommend that shareholders vote against the proposed resolutions." In a second statement, the directors conceded they may have to consider using Ibrox as security on a loan - but insisted any decision would not be "taken lightly". Thousands of fans protested against that possibility before Friday night's abandoned clash with Hearts after it was revealed Newcastle owner Ashley was preparing to have his name added to the title deeds of both the stadium and Murray Park as part of a £10million loan arrangement. The Three Bears - wealthy fans Douglas Park, George Letham and George Taylor - had already announced they would increase their own loan offer of £5million - but would not ask for security on the stadium. The board added: "The directors are pursuing bilateral discussions with two parties who are both stakeholders in Rangers. "These discussions contemplate a significant amount of capital being available to the business on a long-term basis in order to enhance the squad which the directors believe is necessary. "A consequence of funding to this level is that, in reality, it may be necessary to use Ibrox stadium as security; such a decision would not be taken lightly. "No decision has been taken at the current time while discussions are being finalised in good faith. "The advance notice does not mean that security will be given, and the directors are adamant that it will not unfairly advantage the party with whom it was agreed. "The board will conclude a transaction, based on its merits, which it believes is in the best interests of shareholders as a whole in accordance with their fiduciary duty." http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-ill-convince-stock-5005483?utm_source=twitterfeed&utm_medium=twitter
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The Union of Fans is calling on Rangers fans to stage a "mass demonstration" outside Ibrox 45 minutes before kick-off tomorrow night.
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http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12218547.html
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Stuart McCall has thrown his support behind the Three Bears, the group owning a near 19 per cent stake in Rangers headed by businessman and Rangers fan Douglas Park. The former Ibrox midfielder has called for Rangers people to be back at the helm of the stricken ship, believing that the departure of legendary figures have left a gaping hole at the heart of the club. “I don’t know any of these gentlemen [the Three Bears], but if you believe what you read, they have Rangers at heart,” said McCall yesterday “I’m not saying that, just because you have Rangers at heart, you are going to be successful and the club is going to make money. But you do know that, whatever they are doing, they are doing it for the right reasons. “They are not in there saying: ‘we can earn this and we can get out’. What you want are people that the club matters to and will do their best for the club, not for themselves as individuals. If it is The Three Bears, if it is Dave King, if it is anyone else, you would rather have people who bother about the club and it’s not just about money-making. “Rangers don’t necessarily need an ex-player as their manager,” he added. “But what they need is someone at the club who doesn’t just have business sense, but is actually doing it for the love of the club – because they’ve got ties to the club.” McCall believes that the departure of three stalwarts who have cut their ties with Rangers – John Greig, Ally McCoist and Walter Smith – sums up the state of the Ibrox club. The Scotland coach was at Ibrox for the abandoned game against Hearts on Friday night in his role as a summariser for BT Sport and watched with anguish afterwards as passions ran high among supporters angered by the board’s conduct. With advanced notices of loan securities against Ibrox and Murray Park having been lodged at the Register of Scotland last week in the name of Mike Ashley’s Sports Direct retail company, fans now fear losing ownership of the club’s stadium. However, it is the emotional heart of the club being ripped out that McCall struggles to accept. Greig, voted Greatest Ever Ranger in 1999, resigned as a director in 2011 in protest at Craig Whyte’s running of the club. Departed manager McCoist, who was put on gardening leave after tendering his resignation, has decided to watch other teams rather than Rangers in recent weeks. Nine-in-a-row manager Smith, meanwhile, confirmed last week he has no intention of ever returning to Ibrox in an official capacity. McCall, who played for Rangers for seven years and had been linked with a return as manager, despairs at the quality of characters who have felt compelled to end their official association with the club. The 50-year-old offered the assessment that few clubs, including Manchester United, could withstand such blows without some very searching question being asked. “John Greig stayed away, which for me is hard to get my head round,” said McCall. “Walter left the board and, again, alarm bells started ringing. If Walter is walking away it must be bad. Obviously the great Sandy Jardine passed away. And now ’Coisty is away. That would be like Bobby Charlton at Man United saying: “You know what? I’ve had enough of the club. Then Sir Alex Ferguson departing because something was going on – and then Ryan Giggs leaving. If that happened at Man United, imagine how everyone would react. “Yes, football is a business now. But is there anybody at Rangers actually doing it for the sake of the club? Or are they just in to make a few quid then disappear into the night?” McCall was speaking at a Scottish Football Association event to publicise the start of the selection process for year four of the regional performance school programme. Since resigning as Motherwell manager late last year the Scotland coach has been linked with the Rangers manager’s post, currently occupied on an interim basis by Kenny McDowall. However, he sounded unconvinced by those in charge at boardroom level at the club, and questioned Ashley’s involvement. “Mr Ashley has got what, eight-and-a-half or nine per cent of the club?” McCall said. “Yet he seems to be the one making all the decisions – appointing a chief exec and a finance director etc. Obviously I’ve got a lot of friends and family who are Rangers supporters – and they can’t understand how this can be the case. The catalyst for everything now is the fact that Ibrox was going to be put up as security against loans. Supporters see other people wanting to offer money and ask why Ashley is the best option.” http://www.scotsman.com/sport/football/spfl-lower-divisions/stuart-mccall-backs-three-bears-rangers-bid-1-3665193
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EGM requisition has been delivered to Ibrox within the last couple of minutes. Statement klaxon to follow no doubt.
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http://sport.stv.tv/football/clubs/rangers/306606-mike-ashley-posts-intent-to-take-out-security-over-rangers-ibrox-stadium/
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...as they hold advanced talks with club bosses. Jan 12, 2015 07:32 By Keith Jackson RECORD SPORT understands the Lanarkshire-based businessman and his allies are on the brink of agreeing a deal in return for two seats on the board. DOUGLAS PARK and his consortium were locked in advanced talks with the Rangers hierarchy last night as they edged closer to winning the battle for control of Ibrox. Record Sport understands the Lanarkshire-based businessman and his allies, George Letham and George Taylor, are on the brink of agreeing a deal to plough over £6million of emergency money into the club to spare it from insolvency – in return for two seats on the board. An announcement is expected early this week as the current regime scrambles to secure fresh funding. And last night, with Park and his group on the cusp of forcing their way into a position of power, directors James and Sandy Easdale appeared to pave the way for their imminent arrival by insisting they will be welcomed into the boardroom. In a statement the Easdale family adviser Jack Irvine said: “Sandy and James repeat again that they will willingly work with Douglas Park’s group for the benefit of the club.” Between them, Park, Letham and Taylor already have control of 20 per cent of the troubled Ibrox club’s shares. They are pushing for regime change and plan to invest further in a new share issue but realise the club’s cash flow position is critical and needs to be addressed immediately. In fact, Hong Kong-based banker Taylor believes, in the longer term, Rangers fans should eventually have control over their own club. The Morgan Stanley managing director has now signed up to a life-time membership with fan-ownership group Rangers First and said last night: “My hope is that direct fan ownership would become the biggest individual owner of the club.” Rangers First director Ricki Neill said: “With our monthly contributors donating amounts from £5 upwards, Rangers First have the income to buy an increasing number of shares every month. “The more members we get to join Rangers First the faster we grow and the bigger our shareholding becomes. “We also have the Club 1872 membership – which George Taylor has recently joined. “This costs £500 and was designed originally to help us reach our target in as short a period as possible. “George Taylor is one of many true Rangers fans that have joined Club 1872 and we look forward to meeting up with him in the near future.” Phoenix Knight Robert Sarver has also offered Rangers a crisis loan based on the condition that he underwrites a share issue to the tune of £20m and buys control of the club. But, crucially, the American’s plan needs the support of 75 per cent of the club’s current shareholders for it to get off the ground and so is viewed as a non-starter. This has left Park in the driving seat although the board are refusing to engage in similar talks with like-minded Rangers supporter Dave King, the club’s biggest single shareholder with a 15 per cent stake. As the crisis deepens, the South African-based businessman is expected by many to call for an egm later this week in a bid to rout the current board at a shareholders’ vote. Newcastle owner Mike Ashley, meanwhile, may yet be prepared to make a rival offer after previously handing over £3m to keep the club afloat through November and December. A close source said last night: “The cash situation remains critical and because of this a decision had been expected over the weekend. “The club is now days away from running out of money completely so there is an urgent necessity to get this funding in place. “However, the talks with the Douglas Park group are at a very advanced stage and it is expected that an announcement will be made soon.” http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boardroom-battle-douglas-park-4962945
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SIR David Murray has broken his silence on the battle for control of Rangers by praising the efforts of Dave King and The Three Bears consortium to gain influence at Ibrox. But the club's former owner warned the club's cash position remains in a critical condition while uncertainty continues to hang over the ownership of the stricken Glasgow giants. While fans have welcomed moves by the Three Bears consortium - comprising wealthy businessmen Douglas Park, George Letham and George Taylor - and former oldco director King to amass 38.1 per cent of shares between them in recent days, Sir David fears little has changed. He claimed the stalemate between the board and those looking to take over is impeding the investment the club badly needs. Sir David, who famously sold Rangers to Craig Whyte for £1 in 2011, said: "The way I see it at the minute, and this isn't trying to be smart, is people have changed seats at the table. "But the fact of the matter is the club needs money and resources as quickly as possible. "Dave King and the Three Bears I'm sure have the right intentions for the club, but they must be in a dilemma about how they take it to the next stage when the other sides don't seem to be willing partners." He added: "I take my hat off to the people who are trying to do the right thing, and let's hope they're successful, but whatever way they are going to do it it's going to need more money." Sir David, speaking after a £20m takeover bid from US basketball boss Robert Sarver was rejected by the club, criticised the current board and its suitors for failing to come up with a strategy to take Rangers forward. He said: "I don't know what anyone is trying to do at the minute. I don't mean to be smart. What we'd like to see is Rangers in the hands of Rangers-minded people. But I wish someone would come out and tell us what their strategy is. "Is Dave King working solo? Are the Three Bears working solo? If they are, they are going to have to come up with some more money." Fans groups have voiced concern over Newcastle owner Mike Ashley's influence over the Ibrox Club. The Sports Direct boss has a 8.92 per cent stake in the business, control over the club's retail operations and has advanced loans to the company. Asked if he shared those concerns, Sir David said: "We don't know, do we? The problem you've got just now is that nobody is making statements. There is no strategy." Sir David also welcomed moves by supporters to buy shares in the club through organisations such as Rangers First but said the club's cash needs were more pressing. He also fears the club is losing supporters who may never come back. Sir David said: "What concerns me also is that a fair percentage of the hardcore [of fans] may have drifted now, and I don't think it will be like you turn a light switch and they will come back. "This will take time." http://www.heraldscotland.com/news/home-news/gers-need-cash-fast-sir-david-says.116118429
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Radio Scotland - McLaughlin. Also conjecture that Ashlay will sell to ParkCo.
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Three Bears investor George Taylor believes Rangers should eventually be controlled by the Ibrox support. Along with partners Douglas Park and George Letham - as well as oldco director Dave King - the Hong Kong-based banker is among three factions battling for control of the Glasgow giants. But while the Three Bears' most immediate threat comes from US financier Robert Sarver - who has launched a £20million takeover bid - and the current board and their ally Mike Ashley, Taylor believes the club should eventually be governed by the Light Blues faithful. The Morgan Stanley managing director has now signed up to a life-time membership with fan-ownership group Rangers First. In a statement given to Press Association Sport, he said: "My hope is that direct fan ownership would become the biggest individual owner of Rangers." Rangers First have made a number of significant strides in recent days. Wealthy supporter Jim McColl recently handed the group his 10,000-share Ibrox stake last week, while they have signed up around 700 new members since the Three Bears and King bought up around 34 per cent of the club in two surprise transactions just before the new year. The scheme - which is similar to the one used to rescue Hearts from administration - is now collecting thousands of pounds a month from contributors and using that to buy up shares. On Saturday night, they announced another 60,000 shares had been purchased, giving them control of 0.8 per cent of the club. The Rangers Supporters Trust has also recently increased its stake to just over one per cent. With the fight for power set to come down to which faction can get to 51 per cent, the fans could yet play a vital role for the Three Bears and King in the coming days. The board urgently needs to raise cash to keep the club afloat and an announcement on Sarver's revised takeover bid and possible news of another emergency loan is expected early next week. A general meeting may also be called if King and the Three Bears can find the support to force boardroom change. Rangers First director Ricki Neill said: "With our monthly contributors donating amounts from 5 upwards, Rangers First have the income to buy an increasing number of shares every month. "The more members we get the faster we grow and the bigger our shareholding becomes. We also have the Club 1872 membership which George Taylor has recently joined, this costs £500 and was designed originally to help us reach our target in as short a period as possible. "George Taylor is one of many true Rangers fans that have joined Club 1872, we look forward to meeting up with George in the near future." Meanwhile, midfielder Nicky Law believes a win against Hearts next Friday could kick-start Rangers' Scottish Championship title push. The Ibrox side host the Jambos but cannot afford to let Robbie Neilson's men add to their already huge 13 point lead at the top of the table. Law, who scored a first-half winner as the Light Blues finally beat Alloa at the fourth time of asking on Saturday with a 1-0 success at the Indodrill Stadium, said: "The quality of player we have got, we know we should be doing a lot better than we have been doing. "There is no way we should be 13 points behind Hearts but we are. Unfortunately that is a huge gap to claw back but we will do our best to try and rein them in, starting on Friday night. "It's a must-win game. If we can get it back to 10, you never know." -
A Spain based motor tycoon who wants to buy Rangers is building a £5 million mansion close to Glasgow, The Sunday Post can reveal. Businessman Douglas Park, 64, has submitted plans to erect an eight-bedroom villa near Strathaven, 20 miles from Ibrox. Work is under way on the father-of-three’s new home, which will boast a spiral staircase, home office, gym and steam room as well as a gargantuan master bedroom, according to plans lodged with South Lanarkshire Council. Since separating from wife Isobel in 1999, the tycoon has spent most of his time in Spain. But sources say the car giant plans to move back to the UK – and to help seize control of Ibrox. Alongside George Taylor and George Letham, Park is a member of the so-called Three Bears, who announced on Hogmanay they had bought up 19% of the club. They are in pole position to take control of the side after a £36m bid package by American Robert Sarver was rejected. Last night a source said: “Things are going very well for Dougie. He’s Rangers daft and has flown all over Europe to follow the team. He is close to several Ibrox legends. It’s the same with his three sons. His business is thriving and has his sons help run it so he doesn’t need to be around as much. “He owns a house near the one he is building but it is far smaller and he’s rarely there. “Building this is different. It’s a sign he’s going to spend more time in Scotland – and that will hopefully involve playing a major role at Ibrox. They need him in the boardroom.” The Three Bears are reportedly in cahoots with former director Dave King, 59, who owns 15% of the club. Last night, Craig Houston, of Rangers supporters’ group Sons of Struth, said: “After the turbulent last few years we’d love to see Dougie Park in charge.” Park has built up his thriving business from humble beginnings. He is now recognised to be one of Scotland’s shrewdest businessmen with an estimated personal wealth of £78 million. He started in 1971 with a fleet of three buses, ferrying football fans all over Scotland. That led to contracts providing team coaches for Celtic and other clubs, including Rangers. As the empire grew, he diversified and now owns a large number of car dealerships, including the exclusive rights to sell McLaren and Maserati sports cars in Scotland. Mr Park was unavailable for comment last night. http://www.sundaypost.com/news-views...-park-1.781167
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Not really a fan of Barry Ferguson to paraphrase his brother, but here it is...
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...as Trust increases Ibrox stake. The likelihood of a shareholder shoot-out has increased in recent days following the moves by Dave King and the Three Bears - a consortium comprising of Douglas Park, George Letham and George Taylor - that saw them separately snap up significant stakes in the Gers. The shares held between those two groups, supporters and other like-minded individuals and investors could be enough to oust the current board if an extraordinary general meeting is called. And Union of Fans spokesman Chris Graham knows the vote will make or break fans' ambitions of seeing their club wrestled away from the under-fire regime. He told SportTimes: "If it does go down to a vote, this is really the last chance for the club to end up back in the right hands. "It will be a straight battle between Dave King and the Three Bears on one side and the Easdales and Mike Ashley on the other. "There will be floating voters in between. There is only one side that will bring the fans back and if anyone is voting from a financial viewpoint then they really should be backing the Three Bears and King. "I would think the board would show a bit of common sense and it wouldn't get to an EGM but the longer it goes on and the more delays there are, it becomes more likely that is the way it will need to be resolved. "Between King and the Three Bears, they have 35% and they can rely on a reasonable percentage of the fan vote. "We will be doing our best to make sure fans use their shareholding, it could be worth a crucial few per cent. "I think there are enough unattached shareholders there who, having looked at the level of mismanagement and anger from fans, would take the common sense approach and see there is only one option here." While any move by King or the Three Bears to vote off the under-fire board would be welcomed by fans, it would not be the end of Rangers' current crisis. The Light Blues require immediate funding to see them through to the end of the month, and help them fulfil an assurance to the SPFL that they can see out the Championship campaign. Mike Ashley and American businessman Robert Sarver could yet do a deal to provide another quick cash fix to keep the lights on at Ibrox. Graham said: "There is no option now other than some form of short-term loan. "We would be extremely reluctant to see someone like Mike Ashley provide that because we have already see the cost of that in terms of his control of the board and everything else. "The board are not going to get a share issue away quickly enough to deal with the cash issues. "The Sarver bid is frankly a distraction right now. The board can't accept it, it is only the shareholders who can. "Given the determination of the Rangers men to get in there, I don't see why they would step aside to allow him to take up a majority shareholding. They have the means and the will to fund the club." If an EGM is called, the shares held by fans could prove decisive in swinging the vote and toppling the board. And the Rangers Supporters Trust have announced that they have increased their stake to more than 1% with the purchase of another 100,000 shares in RIFC plc. An RST spokesman said: "A recent influx of new members and contributors to Buy Rangers has allowed us to make this purchase and with the continued support of the Rangers community we hope to increase our shareholding further in the near future. "All funds from the sale of Red and Black and Lion Brand shirts have been retained for use in a future share issue. "We will continue to work closely with those pushing for change at Rangers and we would ask fans to visit http://www.therst.co.uk and help us to take back our club." http://www.eveningtimes.co.uk/rangers/fans-fear-egm-is-last-chance-to-rescue-rangers-as-trust-increases-193866n.115833069?
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