Rangers board in firing line

Rangers supporters have given their backing to the latest bid to overthrow the Board.

Pressure is growing on the existing powerbrokers at Ibrox as they struggle to come up with the funds to run the stricken Ibrox outfit.

South African-based millionaire Davie King snapped up almost 15% of the shares in the club after his previous offer of funding was knocked back in favour of Newcastle United owner, Mike Ashley.

His move came just two days after the Three Bears consortium made up of Rangers-minded businessmen Douglas Park, George Letham and George Taylor acquired a 16% stake in the club.

It places more pressure on current directors, James and Sandy Easdale, who are allies of Ashley, after the SFA prevented more shares being bought up by the Sports Direct tycoon.

With around £8 million required to keep Rangers afloat over the next year, it is now a race against time to gain control of the club before it faces the prospect of going back into administration.

But the Rangers Supporters Trust (RST) are pleased to see both King and the Three Bears buying shares.

Their statement read: “The RST is delighted with the news of the past few days, which now sees around 35% of the club’s ownership in the hands of trusted Rangers’ supporting businessmen.

“With the shareholdings of the RST, other fans and individuals such as Ally McCoist, Walter Smith and Malcolm Murray, we believe we are inching closer to the point where those who care about the club can command a 51%-plus shareholding.

“However, now is not the time to rest on our laurels. The club requires significant investment beyond the money that fans already contribute via season ticket and match-day income.

“It is our firm belief that the fans have a huge part to play, not only in supporting the club financially but also overseeing its well-being through a substantial shareholding.

“We believe the time has come for grass-roots fans to shape the direction of our club along with wealthier supporters.

“As part of the Union of Fans, and independently, we have campaigned long and hard for change.

“That campaign has not always been easy and tough decisions have been taken, but at every step along the way we did what we believe is right for Rangers.

“We are extremely proud of having stood side by side with those determined to force change under difficult circumstances.

“The RST are 100% committed to a successful Rangers, run for the benefit of the Rangers community and not nameless shareholders and their representatives.

“To achieve that, we need the help of every Rangers supporter.

“We appeal to everyone with Rangers at heart to join the RST and work with us and wealthier fans to build a strong and vibrant community around our club.”