Rangers: Jim McColl bemused by Somers appointment

Jim McColl will ask David Somers for answers over ownership and finance. Picture: Robert Perry
Jim McColl will ask David Somers for answers over ownership and finance. Picture: Robert Perry
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JIM McColl and the group of prospective Rangers board members are bemused by the appointment of David Somers as acting chairman of the Ibrox club but want him to answer the ownership and financial questions which continue to swirl around Govan.

Somers, a chartered accountant and investment manager, joined finance director Brian Stockbridge and James Easdale on the board on Thursday, the same day the club revealed its long-awaited AGM is to be held at the stadium on December 19.

The appointment came amid on-going boardroom turmoil, with the AGM postponed last month by a Court of Session ruling after former director Paul Murray led a legal bid to force a vote on the potential election of himself, former Rangers chairman Malcolm Murray - and allies, Alex Wilson and Scott Murdoch - to the board.

Scottish businessman McColl is backing the quartet’s bid but Somers has already begun the process of interviewing potential replacements for former chief executive Craig Mather, who resigned last month and more board members could be added before the AGM.

McColl’s group questioned the appointment of Somers and reiterated their desire to discover if former chief executive Charles Green is still involved with shareholders Blue Pitch Holdings and Margarita holdings, in addition to requesting answers about the club’s “poor financial performance”.

The club reported a £14million operating loss for the 13 months to June.

A statement released by McColl’s group to Press Association Sport read: “We note the appointment of David Somers as acting chairman of Rangers International Football Club with bemusement.

“Is he purely independent and there to ensure the AGM is conducted properly or is he endorsing the current dysfunctional regime and trying to rebuild it?

“The Court of Session ruling was nearly four weeks ago and the spirit of it would have had the AGM done by now and democracy would have been achieved.

“His gushing praise of the history of the club has been done by many characters in this revolving door regime.

“The fans are well aware of their history and instead need to hear answers to the questions they ask vocally at every game about investors’ identity, Green’s involvement and poor financial performance.

“Last year’s prospectus promised a high level of corporate governance.

“The result has been a disgrace. Mr Somers says he stands for corporate governance.

“As none of us know Mr Somers we have asked Daniel Stewart (Rangers’ advisors) for an introductory meeting.

“Our group is ready and fully equipped to rebuild the club financially and morally and although we are being pressed by shareholders to call for a general meeting we will wait in the interests of the dwindling cash balance.

“We and they, however, will not stand for further appointments pre AGM.”

Paul Murray and Malcolm Murray will meet with representatives of Rangers fans’ groups before Saturday’s home game against Airdrieonians.