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A new ownership battle - an impossible situation?


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Despite the fact the business will be loss-making (see interim accounts from earlier this year) and the recent negative media coverage surrounding asset ownership, the existing owners may not be overly keen to sell-up as it stands.

 

Three major obstacles in that one sentence right there!

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Guest Valley Bluenose
Looks like the lad from Rm was correct.

 

About the Easdale's Frankie?

 

Where are you hearing this from? Worrying development (if true). Not really what we need at the moment.

 

Edit: Ah, just seen the BBC story.

Edited by Valley Bluenose
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Pacific Quay claiming the Easdale brothers already have 6% before they buy Green's shares, so they could end up with 14% and rising.

 

Enough to gain more power, influence and then get rid of Walter, McCoist and Murray. Wonder if Green will come back in after that?

 

Largest shareholders are gangsters - jesus wept!

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Former chief executive Charles Green has agreed to sell his shares in Rangers to Greenock bus tycoon James Easdale, BBC Scotland understands.

And it could spark a new battle to take control of the Ibrox club.

Easdale and his brother, Sandy, already own around 6% of Rangers, but they want more - and a presence on the board.

However, Sandy Easdale was jailed for VAT fraud in 1997 and it is believed that concerns have been raised at a Rangers board meeting.

The board met on Tuesday to discuss the possibility of the Easdales increasing their stake in the Division Three champions.

It is possible the family will look to buy even more shares in Rangers in an attempt to take some form of overall control.

The Easdale family owns McGill's Buses, a Greenock-based company that has become the largest independent bus operator in Scotland.

James Easdale is the chairman of the company that now operates more than 350 buses and around 55 routes and employs about 700 members of staff.

Englishman Green, who is Rangers' biggest single shareholder with 8% of the stock, resigned last week following allegations that he colluded with former owner Craig Whyte to buy the Ibrox club's assets.

Whyte, who the Scottish FA ruled was not a fit and proper person to own a football club, had claimed that Green was his frontman to buy the assets of the club the Scottish businessman took into administration last year.

Green denied those accusations, but it prompted Rangers' board to announce it would be launching its own independent investigation.

However, Green subsequently resigned, with the club saying he wished to avoid the publicity around his role impacting negatively on the club.

Nottinghamshire-based businessman Craig Mather is to be confirmed as the new chief executive once Green's departure from the role has been formalised.

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