BEARGER 1,829 Posted March 1, 2015 Share Posted March 1, 2015 Roddy Forsyth By Roddy Forsyth6:42PM GMT 01 Mar 2015CommentsComment Dave King has won his battle for control of Rangers - a victory that will be confirmed by the resignation of the Ibrox plc chairman, David Somers, Telegraph Sport can exclusively reveal. Somers’ departure is expected to be announced to the Stock Exchange on Monday. The deadline for proxy votes to be received falls on Wednesday morning, but the beleaguered Rangers plc board has accepted that King - himself a former Ibrox director - will be in charge after Friday’s extraordinary general meeting and will install his allies, Paul Murray and John Gilligan, as directors. Both sides have crunched the voting numbers and have arrived at the conclusion that his victory is inevitable, raising the question of whether or not there will be any need for the meeting to go ahead. It is thought that Somers’ decision to get out ahead of the EGM is motivated by a desire to avoid another public humiliation like that witnessed at Rangers’ AGM at Ibrox in December, when he lost control of the proceedings in the face of barracking by angry shareholders. He became further discredited in the eyes of the Rangers support when an email leaked to Telegraph Sport revealed that Somers had pleaded with a representative of Mike Ashley to ensure that the Newcastle United owner would provide the cash flow necessary to repel King’s previous takeover attempt in October. In the email, Somers declared that he would not survive as chairman – nor would James Easdale, his fellow plc director. In the event, Easdale resigned last Wednesday, stating that, even if board were to win the EGM vote – King's motions call for the removal of the directors – it would be “a hollow victory”. However, the two remaining plc directors – Derek Llambias, Rangers’ chief executive, and Barry Leach, director of finance, are not expected to tender their resignations. Somers, Llambias, Leach, James Easdale and his brother, Sandy Easdale, are also directors of The Rangers Football Club Ltd, with Sandy Easdale the chairman. Attention will now focus on questions such as who will be in charge of the day-to-day operations at Ibrox. Llambias and Leach have been the target of fans' opprobrium, but they have the support of Ashley, who used his funding deals to secure considerable control over Rangers’ cash flow and assets and the pair have reduced overheads and losses, which would have seen the club placed into administration again, had it not been for the financial input of the Sports Direct magnate. One obstacle to an entente – quite apart from the fans’ view of any continued role for either Llambias or Leach - is the rancour which has attended the battle for control of the crisis-torn club. King’s prolonged struggle with the South African Revenue Service – in which he was described by a judge as “a glib and shameless liar” – was raised repeatedly by the plc board and was also highlighted in the defence of its position issued to the London Stock Exchange. SARS, though, has confirmed to Telegraph Sport that it has imposed no restriction on King acting as a company director and pointed out that the South African Companies Act is identical to its UK equivalent. King and his allies, including the Three Bears consortium – wealthy supporters Douglas Park, George Letham and George Taylor – have returned fire in kind, particularly when Rangers Fans Board published an unauthorised minute of a meeting earlier this month. The minute quoted Leach as saying that the Three bears “s--- themselves” when they thought that their £10 million takeover attempt might be accepted by the board. Llambias subsequently disbanded the Fans Board and last week threatened its members with legal action unless they removed the Board’s Facebook page. Either way, King and his cohorts must now address in detail how to meet the club’s financial requirements for the next two years, which are likely to approach £30 million, even if Rangers achieve promotion to the Scottish Premiership. That prospect is very far from a certainty, given the club’s stumbling performances under caretaker manager, Kenny McDowall, who has made it clear that he has no desire to remain in the role a moment longer than necessary. One immediate effect of King’s triumph will be the swelling of crowds at Ibrox as disaffected fans return to the fold, with a consequent improvement of cash flow. There have been so many false dawns at Ibrox since Rangers went into administration under the Craig Whyte regime in February 2012 that it would be premature to hail this development as the beginning of the end of tumult. But, as was observed during another protracted conflict – it is, perhaps, the end of the beginning. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted March 1, 2015 Share Posted March 1, 2015 Dave King has won his battle for control of Rangers - a victory that will be confirmed by the resignation of the Ibrox plc chairman, David Somers, Telegraph Sport can exclusively reveal. http://www.telegraph.co.uk/sport/football/teams/rangers/11443457/Dave-King-wins-battle-for-control-of-Rangers-with-David-Somers-set-to-resign-as-chairman.html 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted March 1, 2015 Share Posted March 1, 2015 Set alarm 7 am . . . check. 0 Quote Link to post Share on other sites More sharing options...
Little General 80 Posted March 1, 2015 Share Posted March 1, 2015 I hope he is not getting a pay off. surely the EGM will be postponed now. 0 Quote Link to post Share on other sites More sharing options...
Jim1955 12 Posted March 1, 2015 Share Posted March 1, 2015 The last sentence is worth thinking about. Lots of hard work ahead. Hopfully we can make some genuine progress now. 0 Quote Link to post Share on other sites More sharing options...
pete 2,494 Posted March 1, 2015 Share Posted March 1, 2015 If the two liars don't resign then I would imagine either King will have to sack them or we will still have to wait until Friday. I expect Ashley to call for his two places on the board and reinstate them. It would seem King is wanting to work with Ashely until the loan is paid back anyway. 0 Quote Link to post Share on other sites More sharing options...
Laudbertz 0 Posted March 1, 2015 Share Posted March 1, 2015 After the 5pm Friday announcement not happening, I refuse to get excited! ... oh screw it... 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted March 1, 2015 Share Posted March 1, 2015 The BBC shit McLaughlin has tweeted Somers going tomorrow. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted March 1, 2015 Share Posted March 1, 2015 (edited) Exclent news. He has Been an abomination. Edited March 1, 2015 by the gunslinger 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted March 1, 2015 Share Posted March 1, 2015 Rangers chair David Somers is expected to step down from the role this week ahead of an EGM due to take place at Ibrox on Friday.#bbcsport 0 Quote Link to post Share on other sites More sharing options...
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