Easdale brothers to plough £20m into Rangers

[Steve1872 4]

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JAMES and Sandy Easdale are poised to plough around £20million into cash-strapped Rangers.

 

By: Graham Clark

Published: Fri, January 17, 2014

 

 

 

 

 

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James and Sandy Easdale are set to give Rangers a well-needed cash boost [WILLIE VASS]

The Greenock businessmen, already significantly involved in the Ibrox club as shareholders and directors, are edging closer to selling their bus firm and are considering investing massively in the stricken League One leaders.

The brothers are already understood to have knocked back approaches for McGill’s Buses amid rumours that one £80m offer wasn’t enough and that they’re holding out for £100m.

If they succeed in getting a buyer at that price, the speculation is they will aim to increase their stake at Ibrox by investing about £20m.

James, on the club’s plc board, and Sandy, who is chairman of the football board, have been building up their shareholding in recent months as they look to tighten their grip on the club.

They are now generally recognised to be the powers behind the throne at Ibrox.

The Easdales took over McGill’s in 2001 and, after moving back into the black by posting profits of £659,404 compared with a loss of more than £550,000 the year before, their turnover has almost doubled from £15m to £28m following the takeover of rival Arriva Scotland West nearly two years ago.

These figures have made McGill’s an attractive proposition and it is a business the Easdales are prepared to offload as they have other interests, including taxi firms and private rental and commercial property.

The jury remains out on the Gers’ board simply because little or no information is passed the supporters’ way and stories like yesterday’s in Express Sport that players had rejected chief executive Graham Wallace’s suggestion they take a 15 per cent cut in wages has done little to quell their concerns over the club’s financial position.

Wallace, in fact, has declared there is no chance of a second administration but conceded the club can’t continue to run the way it is amid suggestions it is losing around £1m a month.

And, even if the Easdales were to splash their cash, there would still be a need to rein in the general costs.

But, if the Greenock pair put up around £20m, it would go a long way to easing the near-critical state at the club and, of course, help appease and win over worried fans.

 

[der Berliner 3,803]

Let's wait and see. Before they can spend, they must sell. And I wonder whether there is a buyer about willing to spend 100m on that company/-ies.

[Ser Barristan Selmy 222]

Aye, very good.

 

Not going to bother reading that shite.

[Super Cooper 0]

Toxic Spin. So obvious even i can see right through it.

[BEARGER 1,830]

Thank goodness for that, can sleep easy tonight. Knew the Easdales would come good.

[BrahimHemdani 1]

The thought of these two in complete control of the Club is enought to give anyone serious nightmares.

 

Of course the only way that £20 million or whatever would benefit the Club would be through a new share issue but the lower the price of the current shares goes; the nearer that becomes a reality.

[pete 2,499]

Thank goodness for that, can sleep easy tonight. Knew the Easdales would come good.

 

Do I detect a hint of sarcasm there, my man.

[stewarty 2,060]

What a load of BS. Laughable that this is meant to be taken seriously.

[forlanssister 3,114]

Lol...one minute you're mortgaging assets to old man Steele at Clifford Finance/Blythswood Motors and the next you've got £20m to spunk on Rangers.

 

https://www.duedil.com/company/SC182141/arranglen-limited

 

Outstanding

 

CREATED:19 Nov 2013

 

REGISTERED:22 Nov 2013

 

PERSONS ENTITLED:CLIFFORD FINANCE LIMITED;

 

FURTHER INFORMATION:Subjects On The Southeast Side of Dellingburn Street Greenock Ren82071

[pollok-loyal 0]

Jackanory jack angry do one Toxic.