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New twist over control of Ibrox

James Easdale resigns from Rangers board blaming fan pressure

IbroxRebel shareholder Dave King was effectively handed the keys to the Rangers boardroom today when James Easdale resigned as a director of both the company and the board.

Mr Easdale was one of four directors due to face a shareholder vote on 6 March and said that even if he was to survive it would be a “hollow victory” given that the fans remain hostile to the board.

Mr King needs a 51% majority to oust the current directors and install himself, Paul Murray and John Gilligan.

Easdale’s brother Sandy, is chairman of the football club and controls more than 20% of the shares. He has made no comment about today’s announcement.

The other directors facing the EGM vote are chairman David Somers, Easdale, chief executive Derek Llambias and finance director Barry Leach.

Llambias and Leach are close business associates of Newcastle United and Sports Direct tycoon Mike Ashley, who owns 8.92% of Rangers shares and has pumped money into the club through loan deals that have enabled it to continue trading.

In a brief statement issued this morning, the club noted that Mr Easdale had not received any payment during his time on the board.

It said: “Rangers announces that James Easdale has resigned from the Boards of the Company and Rangers Football Club Limited with immediate effect. He leaves Rangers having never received any remuneration, bonus or compromise payment during his time at the Club. He would like to thank all the fans and shareholders who supported him and wishes the club a speedy return to the top flight of Scottish football and beyond.”

Craig Houston, a spokesman for the supporters, described today’s move as “a step in the right direction.”

 

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