Derek Llambias reassures Rangers fans

Former Newcastle managing director Llambias touched down in Glasgow after jetting in from London on Monday night. Picture: SNS

DEREK LLAMBIAS has reassured Rangers supporters about Mike Ashley’s plans for the club - but the Scottish Football Association is now set to demand answers following his move for greater say at the club.

Former Newcastle managing director Llambias touched down in Glasgow after jetting in from London on Monday night.

Llambias is a close ally of Magpies owner Ashley and is now expected to replace Graham Wallace as chief executive following his resignation.

Ashley, who owns 8.92 per cent of Rangers, has tightened his grip on the Ibrox outfit after the club’s board was forced to accept his £2million loan offer.

But the SFA is now set to ask the club to clarify the Londoner’s involvement.

Ashley has signed a deal with the governing body vowing not to own more than 10 per cent of Rangers while he remains in charge at St James’ Park.

• Rangers: Llambias arrives ahead of Ibrox talks

A spokesman said: “We have written to Rangers and Mike Ashley seeking clarification on the weekend’s events in respect of the written undertaking.”

But Llambias said: “Mike Ashley has got a great track record, but I can’t give you any comment. I’d love to but I can’t.”

As part of the deal, Ashley has won the right to replace Wallace and former finance director Philip Nash, who resigned on Friday, with his own directors.

Llambias is the first arrival, with reports suggesting Stephen Mucklow, another of Ashley’s right-hand men, will soon follow.

Wallace was brought in as chief executive last November by PLC chairman David Somers to lead the restructuring of the club.

He found himself at odds with football board chairman Sandy Easdale, who controls a significant 26 per cent stake through shares and proxies, as he tried to push through a £16million rescue package being offered by former oldco director Dave King.

Easdale, though, was determined to forge an alliance with Ashley, who has now got his way.

Wallace’s exit sparked rumours that boss Ally McCoist could be next out of the Ibrox door.

• Graham Wallace steps down as Rangers chief

But the manager confirmed he had been given assurances his job was safe, while Easdale added: “He is the manager and he continues to be the manager.”

News of Wallace’s resignation from his £315,000-a-year role early on Monday morning was swiftly followed by confirmation of Ashley’s £2million interest-free loan.

It will give Rangers some much-needed breathing space following rumours the club were due to run out of cash on Tuesday.

Ashley saw off a late bid by Sale Sharks owner Brian Kennedy to put forward his own emergency loan facility and now has the Ibrox club in his grasp.

Ashley already runs the club’s retail division and holds naming rights to the stadium. The terms of his loan now gives him security over the Albion Car Park and Edmiston House facilities on the doorstep of Ibrox.