Laxey Partners have sold their 16.32% to the Park, Taylor & Letham consortium

[the gunslinger 3,366]

So can I ask what is Ashley's next move likely to be? He can't increase his existing shareholding beyond 10% as things stand and presumably the most obvious step is to ask for his £3m loan back. Do we know how much notice we get should he call that in? Today's news presumably doesn't change anything with regards to how the current board of Directors would vote. If they decline the £6.5m offer from Park consortium could we still be faced with an Administration? Would that be Ashley's thinking?

 

think it has to be repaid by april.

[pmu 0]

hopefully this is all going in the right direction. I just hope the guys with cash and can afford to put up serious money will do whatever it takes to get control. I am 99% sure they would get every penny back from fans if they sort us out and allow a fan ownership scheme (bit like hibs are proposing) to happen in future..

[buster. 5,257]

Laxey partners chairman Colin Kingsnorth confirms he has sold his 16% stake to the Three Bears: "I sold because a fans-based group were hopefully going to be the best placed to take on Ashley's power. After Ashley removed Norman Crighton, Ashley's most vocal critic, it was obvious David Somers was just a wet fish agreeing anything Ashley wanted. I am sure the Three Bears are an upgrade on us for fans and hopefully this is the start of the ownership being in the right hands."

 

 

Laxey statement is hard-hitting and adds fuel to the SFA case against Ashley.

 

Edited December 31, 2014 by buster.

[SteveC 150]

The Isle of Man investment group firm was the largest shareholder in the club but has now sold its 16 per cent stake to a consortium made up of Douglas Park, George Letham and George Taylor in a deal worth almost £2.7million.

 

And now Laxey chief Colin Kingsnorth has revealed he handed the trio the 13.3million shares the firm has built up since December 2012 in order to halt Ashley's Ibrox takeover.

 

He also accused chairman David Somers of being a "wet fish" and admitted his disillusionment with the ruling Ibrox regime after Norman Crighton, Laxey's man on the board, decided to quit earlier this month.

 

Rangers are desperately short of money and need to raise £8.3million before April 1 if they are to stay afloat.

 

The Glasgow giants' cash crisis got so bad they were forced to off-load their best player Lewis Macleod to SkyBet Championship side Brentford on Wednesday for an "undisclosed fee".

 

Newcastle United owner Ashley - who owns an 8.92 per cent stake and controls the club's retail division - now has the club in his iron grasp after issuing the board with an emergency £3million loan.

 

However, the Scottish Football Association has already blocked his attempt to raise his stake to 29.9 per cent after ruling it would breach "duel ownership" regulations.

 

Kingsnorth, though, believes the billionaire Sports Direct tycoon can only be stopped from inside the Ibrox boardroom.

 

In a statement handed to Press Association Sport, he said: "I sold because a fans-based group were hopefully going to be the best placed to take on Ashley's power. After Ashley removed Norman Crighton, Ashley's most vocal critic, it was obvious David Somers was just a wet fish agreeing anything Ashley wanted.

 

"I am sure the Three Bears are an upgrade on us for fans and hopefully this is the start of the ownership being in the right hands."

 

Motor group boss Park is said to be worth £78million, while Letham - who sits on the board of the Rangers Supporters Trust - has already loaned the club £1million earlier this year. Taylor, meanwhile, bought a 3.2 per cent stake in the club last month - meaning the consortium is now in control of 19.5 per cent of Rangers.

 

The trio have already lodged a £6.5million offer to underwrite a share issue with the club's board. In return, they want two seats on the Rangers board.

 

It could be Friday at the earliest before the Laxey sale is confirmed to the Stock Exchange, however.

 

Wednesday's transaction will not see any cash flow into Rangers' coffers but it will allow the Three Bears to take part directly in any share issue taking place early in the new year.

 

A motion at this month's AGM which would have allowed the club to raise new shares and offer them to new investors before existing shareholders was controversially defeated.

 

A spokesman for the RST said: "Assuming that it is the Three Bears who have bought these shares, then we are delighted. It is the first bit of good news we have had in a long time."

 

Meanwhile, caretaker boss Kenny McDowall insists his side can cope without Macleod.

 

The 20-year-old flew south to London on Tuesday and after passing a medical has now agreed a three-and-a-half year deal with the Bees.

 

Scotland Under-21 international Macleod's exit would be a major blow for caretaker manager Kenny McDowall with his side short of creativity and sitting 15 points adrift of Scottish Championship leaders Hearts following a 4-0 hammering from Hibernian on Saturday.

 

McDowall, though, insists he has enough in reserve to manage without Macleod.

 

Speaking at the pre-match press conference for Saturday's Championship clash with Dumbarton, he said: "It would be naturally a blow to see him go. He is a talented lad and he's got the opportunity to move on, which looks like it may now be the case.

 

"It's disappointing to lose him but that is football. You have got to move on.

 

"Lewis is one of our top players but it is also an opportunity for someone else to come into the team and stake a claim. So nothing has changed. We are still a good team.

 

"It's not one player which makes our team. We have a lot of good players in that changing room."

 

 

https://uk.eurosport.yahoo.com/news/...6698--sow.html

[ranger_syntax 4,422]

The good guys are going to have to throw the club's ownership open to everyone - not on day one - but over the course of a few years.

 

What do you mean?

[Hildy 0]

What do you mean?

One of the three bears is on the RST board - George Letham. The RST wants fan ownership.

 

With Letham in such a prominent position, the club will hopefully look very seriously indeed at making this a reality.

[Steve1872 4]

Scottish Sun Sport ‏@scotsunsport 13m13 minutes ago

Laxey chief: Only Three Bears can save Rangers from Ashley.. and David Somers is a "wet fish" http://bit.ly/1I0ekLY

 

[Steve1872 4]

Andy Newport ‏@AndyNewportPA 1h1 hour ago

On PA wires: Sandy & James Easdale welcome news of Three Bears purchase of Laxey shares.Their spokesman Jack Irvine said: "If the reports...

are accurate, Sandy and James are delighted that Mr Park and his friends have bought the Laxey shares and they hope they will further...

invest in the club. As we said yesterday the Easdales and Messrs Park, Taylor and Letham have a common goal – the re-emergence of Rangers...

as a footballing power."

[rbr 1,266]

Andy Newport ‏@AndyNewportPA 1h1 hour ago

On PA wires: Sandy & James Easdale welcome news of Three Bears purchase of Laxey shares.Their spokesman Jack Irvine said: "If the reports...

are accurate, Sandy and James are delighted that Mr Park and his friends have bought the Laxey shares and they hope they will further...

invest in the club. As we said yesterday the Easdales and Messrs Park, Taylor and Letham have a common goal – the re-emergence of Rangers...

as a footballing power."

 

 

But , but Toxic Jack definitely doesn't work for us , lying bastards

[the gunslinger 3,366]

easdales are shitting it.

 

lol