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Volume 10 No. 24


Scottish Third Division club Rangers "are being urged to conduct greater background checks on potential board members after fresh details emerged of the troubled past of two brothers who last week signalled their intention to join the board," according to Paul Hutcheon of the HERALD SCOTLAND. Former Rangers CEO Charles Green "is intending to sell his shares" -- worth nearly 8% of the club -- to James and Sandy Easdale. Although it is widely known that Sandy Easdale was jailed in '97 for VAT-related offenses, files from the National Records Office and Registers of Scotland "give a more detailed account of the Easdale family's problems during this period." Both brothers were initially charged with VAT-related offenses, although "the case against James Easdale was dropped." Both "were blocked from disposing of their assets as part of the probe by Customs & Excise." Sandy Easdale "was jailed" after police found £45,000 ($69,000) in a carrier behind his settee. There "is now a strong appetite among Rangers fan for the club to perform greater due diligence than has been the case." Rangers Supporters Assembly spokesperson Andy Kerr said, "Greater checks have to be made regarding potential board members, as the past 18 months do not read well. We need to be aware about any skeletons as early as possible." A spokesperson for the Easdale brothers said, "This is ancient history -- a 17-year-old story. The facts concerning Sandy Easdale are well known, and he makes no secret of it. He and his brother now run a hugely successful group of companies and employ over 1,000 people" (HERALD SCOTLAND, 5/12).

British property investor Andrew Ruhan "has bought a 2pc stake in the Lotus Formula One team" for an estimated price of £1M ($1.5M), according to Christian Sylt of the London TELEGRAPH. In February, Ruhan "joined the board of the Oxfordshire-based team, but it denied that he had become an investor." Lotus "is owned by private equity firm Genii Capital, founded by Gerard Lopez, an early investor in Skype." Lopez said Ruhan “is not a large or a controlling shareholder in the team. He is a friend and a business partner in some substantial real estate developments, loves cars, racing and has purchased, if I am not mistaken, two percent of the equity to be on the board and feel involved -- for sure, not a substantial deal for either party”(TELEGRAPH, 5/12).

Newly relegated EPL side Queens Park Rangers "announced a cut in season ticket prices for next season, with no seat costing more than when the club were in the Championship two years ago," according to the London EVENING STANDARD. This season, prices have ranged from £499-£949 ($766-$1,450). However, next term, when QPR are back in the second tier, prices will start at £439 ($674), with the most expensive being £689 ($1,050). Season ticket holders who renew during a "loyalty window" will get an even better deal, with prices between £389-£599 ($597-$920) (EVENING STANDARD, 5/10).