Rangers director left 5,000 Celtic shares in will

A FORMER Rangers director left a £1.5 million fortune that included 5,000 shares in Celtic.

Hugh Adams, a former director of Rangers, also had shares in Celtic. Picture: Robert Perry

Hugh Adam, one-time chairman and managing director of Rangers Development, passed away aged 87 after suffering heart failure in December 2012.

The father-of-one, of Hamilton, Lanarkshire, left his fortune – including 5,000 shares in Celtic worth £2,050 – to his wife Jean. She passed away in April this year.

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Mr Adam’s will revealed he left £1,453,401 to his wife who, in turn, left a huge £3,723,341 fortune. Their daughter, Rev Dr Elizabeth Adam, inherited the estate.

His legacy included personal effects worth £3,800, cash in various bank accounts worth around £640,000, and a stocks and shares portfolio valued at more than £740,000.

His shares collection included £50,000 in Stagecoach and 5,000 shares in Celtic worth £2,050.

In 2002, The Scotsman reported that Adam had claimed Celtic were ‘run much more competently’ than Rangers, adding that ‘investment in the Parkhead club would be a much sounder proposition for anyone wishing to purchase shares in a football institution’.

Mr Adam’s efforts for the Ibrox club, through the establishment of Rangers Pools and Rangers Development brought the club around £18 million - equivalent to around £60 million in today’s money.