Rangers FC Facing Vote to Sack Board
In a not so shocking turn of events, South African investor Dave King and his New Oasis Asset Management group has called a general meeting in an attempt to remove Rangers FC chairman David Somers, as well as chief executive Derek Llambias, along with finance director Barry Leach and non-executive director James Easdale.
Both Llambias and Leach are Mike Ashley’s backed board members. The move comes as no surprise with Dave King attempting to take control at Ibrox Stadium, ending much of the supporters’ hatred towards the board. If the removal is approved by the clubs shareholders, King will be allowed to place members of his choosing in charge.
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With the season more than half over, Rangers sit in second place, 13 points adrift of league leaders Hearts. The winner of the Championship receive automatic promotion to the Scottish Premiership. With the club struggling thus far, many supporters have turned their frustrations towards the board, which announced an annual loss of £8.3 million in December.
If the club fails to raise funds by the end of the current season, the Glasgow side could face administration. With supporter anger and frustration at an all-time high, the time for change is now and longtime fan Dave King is the man for the job. King brings with him a vast fortune, one that would help the club remain out of administration and possible bankruptcy.
The South African would also bring with him the support of the fans and shareholders. Many believe that as a fan of the club, King would act upon the best interests of the club and return the side to its former glory. For the shareholders, a return to glory would also boost revenue, bringing with it profits for the first time in years.
If a move is not made soon however, the situation at the club could get out of control. With fan protests taking place quite often, the club could find itself losing supporters and falling deeper by the day. The only clear solution for the club is to find a chairman with large amounts of capital and a deep love for the club.
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To make matters worse for the club, it also appears that much maligned Newcastle owner Mike Ashley is interested in taking over at the club. Already a shareholder, Rangers have accepted multiple loans from the English billionaire. Should Ashley take over, he would bring some stability to the financial side of the club.
However, the consequences for the club would be far worse on the pitch. Much like Newcastle, Rangers would falter. The chances of returning to their former greatness would greatly decrease with Ashley in charge.
For the sake of the club and its supporters, Dave King should take over as chairman of the club. With King at the helm, hopefully the Scottish giant can one day climb to heights it used to know as well as putting that pesky crosstown rival — Celtic — back in their place.