Rae refuses offer for Queens shares

Queen of the South chairman David Rae has turned down an offer for his majority shareholding in the club.

Lancashire-based Media Pro Sports submitted their bid for Rae’s 27 per cent shareholding on Monday evening but were denied a sale.

Rae, 74, will stand down as chairman at the First Division side this summer after eight years and would be more keen to sell his stake to a local party.

He said: “The offer was made on Monday night and I slept on it, and I made my decision not to sell my shares. It’s been the biggest decision I’ve had to make since I’ve been at the club.”