Scottish Championship side Rangers fan-ownership group Rangers First has "increased its Ibrox stake after snapping up another 60,000 shares," according to the HERALD SCOTLAND. With three factions -- Dave King and the Three Bears, NBA Phoenix Suns Owner Robert Sarver, and the existing board "which is aligned with Newcastle owner Mike Ashley -- all battling for control of the Glasgow giants, the Ibrox faithful could yet have a vital part to play." Around 10% of Rangers' shares are owned by fans and small shareholders. Now Rangers First has followed the lead of the Rangers Supporters Trust -- which now has a 1% stake after snapping up another 100,000 shares last week -- by purchasing a "further sizeable tranche." Rangers First, which has set up a scheme "similar to the one which rescued Hearts from administration, now controls 664,792 shares" -- or around 0.8% of the club (HERALD SCOTLAND, 1/11). In Edinburgh, Andrew Smith reported it emerged "there could be some form of detente that would allow the consortium of Donald Park, George Letham and George Taylor a foothold on the Ibrox board." The so-called Three Bears group, which owns around a 20% shareholding in the club, is "believed to be looked upon as people the Mike Ashley/Easdale brothers axis can do business with -- which is altogether at odds" with how they view Dave King, now the "largest single shareholder" with a 15% stake, after his attempts to "starve out" the current regime with his season ticket boycott calls last summer. Ashley is "believed to be ready to step back from being the bank of last resort for the club" following the Scottish FA blocking his bid to increase his 8.92% shareholding to 29%. This has created the "conditions whereby the Three Bears consortium could be offered boardroom representation in return for providing the latest tranche of loans -- ahead of a share issue in which they could gain a dominant influence" (SCOTSMAN, 1/11).
MAGATH BUYS 1%: The BBC's Richard Wilson reported former Bayern Munich Manager Felix Magath has bought around a 1% stake in Rangers. He purchased the shares late last year, "and has held discussions with one of the groups vying for control of the club," but it is not Sarver. Magath "has no ambition to succeed Ally McCoist as Rangers manager, but does want to rebuild the club's football infrastructure as technical director." When asked, Magath "refused to answer questions about his possible involvement" with Rangers. Magath: "I don't want to comment on my stock dealings, that's private. I spent the Christmas holidays in London and actually visited someone in Glasgow but I don't want to comment on whether there has been talks with the club either" (BBC, 1/9). In Glasgow, Gary Ralston reported Magath has outlined a vision for the "footballing future of Rangers that would see a radical overhaul of the methods at Murray Park and also the implementation of a new scouting policy for the club." He is keen to "implement a policy focusing on youth development" (DAILY RECORD, 1/9). In Glasgow, Michael Grant reported interim Manager Kenny McDowall has "dismissed speculation that Rangers want Ian Cathro as manager." McDowall said that he would go "stir crazy" if he "took to heart every report" about the club. McDowall is an "uneasy presence as caretaker manager at Ibrox" and previously described his role as "tainted" because of the departure of his friend McCoist. He is in position until the end of the season and it was reported this week that Cathro, Valencia's 28-year-old Scottish assistant manager, "may be approached to take the job on a permanent basis." McDowall: "I am the caretaker manager at the moment. There is no point me worrying about anything apart from trying to beat Alloa" (HERALD SCOTLAND, 1/10).
