VSI
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

Levy
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 

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

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

Chancellor Misses Rate-Relief Open Goal In Budget

Thu 9th Mar 2017 | Money & Finance

Rate relief for football in the community: An open goal for Government in 2017 Football clubs, large and small, will not benefit from any substantive ‘give-aways’ following the Chancellors...

Leicester City make pre-tax profit of 16.4m after winning Premier League

Thu 2nd Mar 2017 | Money & Finance

Leicester City today announced its financial results for the year ending 31 May, 2016 – a period of continued growth and unprecedented success for the Football Club. An historic, captivating...

Liverpool FC announces financial results for year to May 2016

Wed 1st Mar 2017 | Money & Finance

Liverpool FC has filed its annual accounts for the year to May 31, 2016 reporting that revenues are continuing to grow, creating further financial stability for the club. Overall revenue increased to...

Wolverhampton Wanderers Post 5m Profit

Tue 28th Feb 2017 | Money & Finance

Wolverhampton Wanderers have posted a profit of over £5m in their latest accounts. The club’s headline financial information shows a pre-tax profit of £5.831m for the year ending 31...