Scottish Premiership side Rangers Chair Dave King "will be taken to court after he flouted an order" to make a mandatory £11M ($13.8M) buyout offer for shares in the club's holding company. King was "facing another high-profile battle against the authorities after defying the Takeover Panel." That body has now confirmed it has "opened proceedings at the Court of Session against King." The panel ordered King to launch an £11M offer to buy out the rest of the club’s remaining shares "as a penalty for breaching strict financial rules when he succeeded in ousting the previous regime two years ago" (Scotland DAILY RECORD, 4/13).
Scottish Premiership side Kilmarnock cut its annual losses by more than 90% last season to about £70,000. The club lost more than £700,000 the previous campaign but turnover was up by more than £500,000 to £4M for the year ending May '16, despite the club finishing 11th in the Premiership and "needing a playoff win over Falkirk to survive relegation." The club "received greater income from the football authorities, European as well as Scottish" (HERALD SCOTLAND, 4/13).
