Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Rangers Not In Danger Of Administration Says Llambias

Wed 7th Jan 2015 | Money & Finance

The Scottish Professional Football League have been assured by Rangers Chief Executive, Derek Llambias that the club will not go into administration.

Rangers’ immediate future has been cast into doubt after Chairman, Sandy Easdale loaned the club £500,000 to avoid a winding up order.

The Scottish Championship club, who are desperately short of working capital, were the subject of a takeover by American banker, Robert Sarver whose £18m bid was rejected by the board insisting it was undervalued.

In a statement to the Stock Exchange, the club confirmed that it was in need of fresh funding by the end of January.

In December, Newcastle owner, Mike Ashley was denied permission to increase his shareholding in the club, who sit second in the table behind Hearts of Midlothian, beyond the current 8.92% he already owns.

Ashley effectively took control of the club when he loaned it £3m in December allowing him to appoint two directors on the club board.

The appointment of Llambias followed and Barry Leach, a Sports Direct executive, will become Finance Director.  

Posted by: Aaron Gourley 



If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk  

To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Watford FC: An Unlikely Financial Success Story?

Wed 26th Apr 2017 | Money & Finance

The business model carried out by the owners of Watford FC is unlikely to be adopted by too many sectors outside of football, but by hiring and firing a conveyor belt of managers, they have managed to...

Newcastle United & West Ham Face Tax Investigation

Wed 26th Apr 2017 | Money & Finance

Newcastle United and West Ham United have been targeted by HMRC for alleged Tax and National Insurance fraud. Officers are understood to have raided the offices at St James’s Park and the London...

Premier League Revenues Grow But Losses Return

Thu 20th Apr 2017 | Money & Finance

Premier League clubs’ revenues increased to a new record of £3.6bn in 2015/16, according to Deloitte, the business advisory firm. Analysis of the financial results of Premier League clubs...

7 Tips From The Best Online Football Merchandise Stores

Thu 13th Apr 2017 | Money & Finance

CEO, Lewis Holland and the team at DiscountIF team have been studying various merchandise stores of football clubs in the UK. This article was originally posted here. We’ve compiled a short list...