Rangers rocked by new row as club rages over claims made
RANGERS chiefs yesterday slammed claims by rebel shareholders that the club had been reported to the Serious Fraud Office.
They reacted angrily after businessman Jim McColl, left, said a former employee had provided them with statements on financial payments to some shareholders when Rangers raised 22million through a share issue.
McColl demanded the resignation of finance director Brian Stockbridge, who was awarded a 200,000 bonus for Rangers winning the Third Division title last season and filmed then chairman Malcolm Murray drunk in a restaurant.
He said: “Stockbridge has presided over significant outflows of cash since the IPO. In addition his personal conduct has fallen a long way short of the standards expected at Rangers Football Club.”
The Ibro vintage wedding dresses x club have had three chairmen so far this year Murray, Walter Smith and David Somers as well as three chief executives Charles Green, Craig Mather and Graham Wallace.
McColl said: “This is highly unusual for a public company and may e vintage wedding dresses ven be unprecedented.
“We believe the position of Stockbridge is completely untenable and he should resign or be voted off the board at the AGM.”
McColl claimed Somers and Wallace “looked like credible individuals” who were independent of the Green and Craig Whyte regimes at Ibrox.
But his group still want ex chairman Murray, former director Paul Murray, Scott Murdoch and Alex Wilson nominated for election to the board at the AGM.
A Rangers spokesman, though, blamed Malcolm Murray for incurring massive running costs and salary bills.
He said: “Corporate governance under a previous chairman was nowhere near the high quality of corporate governance now in place.
“The club now has a new, professional board who will deliver the highest standards of corporate governance. The outfl vintage wedding dresses ows of cash include a large amount of exceptional running and salary costs that were inherited from the previous board costs that were initiated by Malcolm Murray when he was chairman.
“Despite this, financial director Brian Stockbridge has add vintage wedding dresses ressed planned expenditure from facilities, made substantial savings on security by bringing it in house and making it a revenue generating centre and saved substantial amounts from the catering contract this season.
“We can only assume confidential information that an ex employee leaked to the requisitioners was in relation to the payments to certain shareholders that was looked at by two sets of lawyers and the NOMAD at the time and then subject to an additional specific review.”
McColl and Paul Murray are expected to attend today’s united supporters’ group rally at a Glasgow hotel. It’s believed the Rangers board has also been invited to take part.