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Union of Fans believe directors at their cash-strapped club are still entitled to 100 per cent top ups to their salary similar to the windfall received by Charles Green.

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Fans want answers from Rangers chief executive Graham WallaceA RANGERS fans’ group are demanding to know whether Ibrox chief executive Graham Wallace is in line for a whopping £300,000 bonus.

The Union of Fans believe the bonus culture that saw the likes of former Rangers directors such as Charles Green and Brian Stockbridge double their normal salary is still operating at their club.

And the supporters now want answers from Wallace as to whether he is set to land a similar windfall at the cash-strapped League One club.

A Union of Fans statement said: “We have been contacted by a number of shareholders who have expressed their concern regarding the bonus culture which has been prevalent within the Ibrox boardroom over the past couple of years.

“There has been no clarity on the terms under which new executive directors have been appointed. Most notable amongst these is obviously the CEO, Graham Wallace.

"We would therefore urge Graham Wallace to disclose publicly whether or not he has ended the bonus culture within the club or whether it has continued with new appointments.

“We do not feel that, under the circumstances in which the club is losing large amounts of money on a monthly basis, shareholders should have to wait until the audited accounts are published to find this out.

“These accounts will not be available until near the end of the year.

“Can Mr Wallace, for instance, earn an annual 100 per cent bonus on his salary, which it has been said is in excess of £300,000 a year?

“In the past we have seen Charles Green double his salary with a 100 per cent bonus, while ex-financial director Brian Stockbridge was also awarded a £200,000 bonus to double his salary.

“Will Graham Wallace also be able to double his salary to considerably more than £600,000 a year or has he ended that type of bonus culture within the Ibrox boardroom?

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Charles Green was entitled to a 100 per cent bonus during his time at Ibrox “Once again we would ask Mr Wallace to act on his stated intention to be open and honest with fans and shareholders.

“So far we have heard a lot of words about engagement and building trust but no real action.

“If he wants to build trust then he should be happy to rule out that this type of culture is still ongoing.”

And the fans’ group also waded into the row involving former Ibrox director Dave King and the current board.

King has asked Wallace if he knew the club was struggling for cash when he spoke to shareholders at the AGM in December.

And the Union of Fans statement added: “We also still await answers to the questions posed by Dave King and in particular the question regarding Mr Wallace’s AGM pronouncements about the cash position of the club.

“Mr Wallace cannot continue to ignore these extremely serious questions if he expects to build any sort of trust with the fans and shareholders.”

Rangers responded to the latest Union of Fans statement by saying: “Rangers Football Club does not comment on the details of any employee’s compensation.

"Mr Wallace, as a director of Rangers PLC, will have his remuneration fully disclosed in the annual accounts in the normal manner.

"The club will update fans and shareholders on its business review next Friday as previously announced."

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Daily Mail running with Wallace being on £300k pa and 100% bonus. Heard it earlier today and near boaked

 

I am not sure this is as big a problem as other things. £600k salary at most depending on what the bonus is, is almost half a million less than what Peter Liewell earned last year after bonus and still less than anything Martin Bain earned is it not? I doubt any Chief Executive worth their salt would take a job so big for anything less.

 

I would however love to know what the terms of his bonus are.

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I am not sure this is as big a problem as other things. £600k salary at most depending on what the bonus is, is almost half a million less than what Peter Liewell earned last year after bonus and still less than anything Martin Bain earned is it not? I doubt any Chief Executive worth their salt would take a job so big for anything less.

 

I would however love to know what the terms of his bonus are.

Celtic can afford to pay that though.

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I am not sure this is as big a problem as other things. £600k salary at most depending on what the bonus is, is almost half a million less than what Peter Liewell earned last year after bonus and still less than anything Martin Bain earned is it not? I doubt any Chief Executive worth their salt would take a job so big for anything less.

 

I would however love to know what the terms of his bonus are.

 

Bain might have got 600k once if he was lucky. Maybe in a treble winning year with CL involvement.

 

This is sickeningly high.

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