DCSIMG

Rangers feud nearing end as four set to join board

Picture: Ian Rutherford

Picture: Ian Rutherford

  • by ANDY NEWPORT
 

Rangers have confirmed that they will consider a request to add former chairman John McClelland and three others to the board of directors.

A group of disgruntled investors, led by billionaire businessman Jim McColl, wants former IBM vice-president McClelland back in the Ibrox boardroom, possibly as chairman. They have also proposed Paul Murray, bus tycoon Sandy Easdale and accountancy expert Frank Blin as directors. Murray was previously involved in the “Blue Knights” group which tried to save Rangers when the club plunged into administration.

McColl and his group had called for an extraordinary general meeting (egm) in a bid to have chief executive Craig Mather, finance director Brian Stockbridge and Bryan Smart removed, but are ready to withdraw that request if their new motion is passed.

A statement to the Stock Exchange said: “The company confirms that the board’s discussions have been continuing with representatives of the group who requisitioned a general meeting. Following recent press speculation, the company can confirm that the requisitioners have put forward a proposal to withdraw the requisition based on their request for the appointment of four additional non-executive directors, being John McClelland, a former chairman of Rangers Football Club, Sandy Easdale, an existing shareholder of the company, Paul Murray, a former director of Rangers Football Club and Frank Blin, formally of PricewaterhouseCoopers. The requisitioners have also confirmed that, subject to the above, they are not seeking to remove any of the current directors.”

The sides had been close to a deal by which the egm motion would be taken into the business of the club’s annual general meeting, due to be held in October but yesterday’s development could see the entire matter sorted out before then.

 

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