Motor group mogul Douglas Park has "stepped forward" to lead a £6.5M ($10M) investment plan in "crisis club" Scottish Championship side Rangers by "the Three Bears," according to Gary Ralston of the Scotland DAILY RECORD. Park has "joined forces with wealthy Rangers fans George Letham and George Taylor with an offer to underwrite a new shares issue in the club." The Scottish FA is reportedly "well aware of the move and the emergence of a credible alternative source of funding for the troubled Ibrox giant." It "is believed the arrival on the scene of the would-be saviours was a factor in the decision of the powerful SFA board to block a further power grab by Mike Ashley earlier this week." The latest move is "significantly" independent of Dave King, who was "blocked by the board" from investing £16M ($24.9M) in favor of Ashley's £2M ($3.1M) loan, "handed to the club in October" and increased by £1M ($1.56M) "just a month later" (DAILY RECORD, 12/26). STV reported Park, founder of Park's Motor Group, is "reported to have a personal fortune" of around £78M ($121.4M). He was part of the "Blue Knights consortium which tried to save the club from liquidation almost three years ago." Letham, meanwhile, loaned the club £1M earlier this year to "stave off another disaster," while Hong Kong-based Taylor bought a 3.2% stake "just last month." The offer -- "which also includes a demand for two board seats" -- was lodged with Rangers Chair David Somers immediately after he "presided over the stormy shareholder meeting last Monday" (STV, 12/27).
