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SBD Global/September 26, 2013/Franchises

Former Scottish Rangers Director Asks For Clarity From Club's Board

Former Scottish League 1 Rangers Dir Paul Murray "called for clarity from the Rangers board over the identity of its foreign backers," according to Keith Jackson of the Scotland DAILY RECORD. Murray, who has teamed up with entrepreneur Jim McColl "to lead a shareholder uprising against the Ibrox regime, has urged the club to make public the identity of the money men behind investor groups Blue Pitch Holdings and Margarita Holdings." Murray’s move "comes after the club’s lawyers asked him to hand over details of all those who are supporting his bid for control -- and following an announcement on Friday that Blue Pitch and Margarita will team up to back the current board at next month’s agm" (DAILY RECORD, 9/25).

MAKING A PITCH: In Edinburgh, Angus Wright reported Murray "is of the opinion" that Blue Pitch and Margarita -- which hold around 15% of the club’s shares between them -- "could garner enough votes" to keep CEO Craig Mather and Financial Dir Brian Stockbridge "in post." Blue Pitch "also funded" Charles Green’s £5.5M ($8.8M) takeover of the club. The former director "has called on the club to ensure that Rangers fans are not left in the dark over the identities of the two groups." Murray: "We spent all of last week identifying who we all are under the section 793 process [a legal mechanism to find out who owns shares]. Has the club done the same with Blue Pitch Holdings and Margarita Holdings? Are they happy with the answers they got? And will they now make public the name of those involved in order that the Rangers supporters are afforded transparency?" (SCOTSMAN, 9/25).
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