The battle for Ibrox has intensified with claims that a police investigation has been launched against ALL directors over their support of Graham Wallace.
In less than a fortnight the former Manchester City supremo has gone from hero to zero as the rebel camp attempt to destabilise the club.
The delay in publishing the 128 day review followed by the lack of substance in the review has been followed by a stream of complaints about Wallace with information about his salary and bonus structure released on Friday night.
Today the Daily Record, which provided unwavering backing to David Murray during his twenty years at Ibrox, has claimed that every director is now subject to a police investigation due to Mr Wallace’s comments.
The two main criticisms of Mr Wallace are that he misled shareholders at the January AGM over the state of the clubs’ finances then gave an incorrect explanation for the withdrawal of credit facilities from First Data Solutions.
On December 21 Wallace told shareholders there was enough money to complete the season but two months later the club was forced into taking two emergency loans to meet the February payroll.
Discussing last week’s 128 day review Wallace claimed that the withdrawal of credit card payment options was as a result of claims that a separate trust fund would be set up for unhappy fans to pay their season ticket money into.
Rebel shareholder Phil Maher believes that the board was warned in January- two months before King made his statement- that First Data Solutions would require security over Ibrox Stadium in return for continued credit facilities.
In a worst case scenario Mr Wallace is likely to re-sign or be sacked and pick up his severance payment like predecessors Charles Green and Craig Mather.
With the football season over it’s likely that criticism of the board will fall away with Ally McCoist reported to be interested in signing former Sunderland and Scotland goalkeeper Craig Gordon on a free transfer.
