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SBD Global/May 16, 2014/Franchises

Glasgow Rangers Board Acquiesces To Fans, Safeguards Ibrox, Murray Park

It appears the board of Scottish League 1 side Rangers has had its "hand forced by disgruntled fans over the future of Ibrox Stadium and Murray Park," according to Ross Thomson of the SCOTSMAN. The "Ibrox 1972 Fund" was set up by The Union of Fans, Dave King and Richard Gough "to collect season ticket money and used as collateral to ensure the club does not sell or borrow money against Ibrox stadium or Murray Park." The group was "demanding a legally-binding document to safeguard the club’s main assets and it appears that their demands are being met." Initially, the Rangers board "has refused to accept any such demands, but it seems that the clubs hand has now been forced as they u-turn their stance." The lack of season-ticket renewals ahead of Friday’s deadline "was clearly of real concern for the board." The Union of Fans met with CEO Graham Wallace, Non-Exec Dir Norman Crighton and Sandy Easdale "to discuss the issue." A statement by the supporters coalition said, "A proposal was made by Mr. Wallace that whilst the board would not grant a security, they could consider giving a legally binding undertaking which would protect Ibrox from sale, sale and leaseback, or as any form of security for a loan or other finance." Similar measures "were also demanded for the Murray Park training complex" (SCOTSMAN, 5/15).
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