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SBD Global/November 4, 2013/Franchises
Board Power Struggles At Rangers Continue As Shareholders Unable To Reach Agreement
Published November 4, 2013
LINING UP NEW BOARD MEMBERS: The SCOTSMAN reported McColl has confirmed former Liverpool Managing Dir Christian Purslow "is set to take on a chief executive role at Rangers in the event of a boardroom shake-up." McColl: "I think Christian is open to that and quite keen, but he first wants to see stability on the board. He needs to see the board sorted out then he would be prepared to join. He is one of the people we think would be a good asset" (SCOTSMAN, 11/1). In Glasgow, Richard Wilson reported Rangers "need funding, new directors and good corporate governance, and anybody with either the club's interests or the interests of the share value in mind should be pressing for these matters to be addressed." The institutional shareholders backed by McColl want to see Paul Murray, Malcolm Murray, Scott Murdoch and Alex Wilson "voted on to the board at the AGM." In the meantime, they are "seeking clarity on who the ultimate beneficial shareholders are in BPH and MH, since both have played a key role in the saga." It is possible for a group of more than 10% of shareholders "to embark upon a legal process to compel the club to reveal that information, but that would cost time and money." King "attempted to find a way through these entanglements, while remaining independent." Other high net worth supporters "are waiting to invest once King is involved, so a solution that is amenable to the fans does lie in wait. It is now time for decisions to be made" (HERALD SCOTLAND, 11/3).