Scottish Championship side Rangers CEO Derek Llambias and Finance Dir Barry Leach will reportedly resign as Rangers directors before Friday's extraordinary general meeting, "but they have now been accused by Dave King of stalling in hope of compensation for their departure as employees," according to Roddy Forsyth of the London TELEGRAPH. Both Llambias and Leach are "long standing associates" of EPL side Newcastle United Owner and Rangers shareholder Mike Ashley. King said that he and the Rangers board "both knew that he would register an overwhelming win in Friday's extraordinary general meeting, which he called in order to overthrow the existing regime." He also revealed that former chair David Somers, who resigned on Monday, "had originally agreed to stay on to supervise an orderly transition in the boardroom" (TELEGRAPH, 3/3). The PA reported "it is understood" that Llambias and Leach have demanded their "year's notice period is paid up in full before they walk." King will "now take over the running of Rangers alongside John Gilligan, formerly of the Blue Knights consortium and an ex-Glasgow brewery boss." King said in a statement, "All of the Rangers directors that are subject to my requisition have now accepted that my resolutions have been successful and there is now no need for the general meeting to proceed. Mr Llambias put it best by advising me that I had achieved a 'landslide' victory" (PA, 3/3).
BIGGER BATTLE AHEAD: In Glasgow, Keith Jackson opined the "war for control of Rangers will most probably reach an inevitable conclusion in a broker's office in London's square mile." In many ways it "might be almost anti-climactic." No "big Hollywood style, shoot 'em up at a shareholders showdown inside Ibrox." But "even if this Rangers board does not go out with a bang, it doesn’t mean that what goes on in the City today should be dismissed as a damp squib." Far "from it." These discussions, in fact, could not carry "any greater significance." They may end up signalling a "landmark moment, the outright surrender of a regime which, in one shape of another, has not only ransacked Rangers for most of the past three years but also caused collateral damage to all parts of the Scottish game." For King, though, this is "not the end." Rather, it is the start of an "even more formidable fight because the most important battle of all starts from the moment he breaks through the barricades to enter the boardroom." First King "must find a way of negotiating his way around" Ashley and "maybe even attempting to force the Newcastle owner into backing down, which goes firmly against his nature." Ashley has a "fist full of ace cards in the shape of assets, badges and retail contracts," not to mention a loan of between £5M ($7.68M) and £10M ($15.36M) which he has "carefully placed around Rangers' neck like a noose" (DAILY RECORD, 3/3).
