The Three Bears have parted with George Letham and George Taylor splitting from Douglas Park.
Four days after Dave King’s blue room coronation Mr Letham and Mr Taylor remain on the outside while Mr Park has been fitted for his blazer and has already issued his first moonbeam.
The Three Bears came into the spotlight on Hogmanay when they made a dramatic power grab buying up Laxey Partners 16.2% holding in the company that operates the football club.
Two days later Mr King, once described as a glib and shameless liar by a South African judge, bought up a 14.57% share in the company when he paid 20p per share to Artemis and Miton then called an EGM to bring about regime change.
The plans of the Three Bears were overtaken by Mr King’s share purchase followed by the call for an EGM.
While transport tycoon Mr Park has backed the new regime Mr Letham and Mr Taylor have stayed silent unwilling to tarnish their reputations by being linked to Mr King.
Paul Murray and John Gilligan were both pictured and interviewed alongside Mr King on Friday while Mr Park’s only comments were in an emotional press release in which he never mentioned his two former bear partners.
Finding other investors to be associated with Mr King, who has been unable to take up a directorship, has proved problematic and illustrates the lack of planning behind the regime change masterminded by the South African based tycoon.
The Three Bears were holding talks with the Mike Ashley led board up until the end of January as they attempted to loan the troubled company £6.5m. That offer was rejected in favour of a MASH deal as Mr King built up momentum for his EGM power grab.
Two days before he prepares to fly back to South Africa nothing is known of Mr King’s plans to refinance the company which is believed to be in need of a major cash injection at some stage next week.
Mr King has still to announce his NOMAD- fueling speculation that the company will be de-listed leaving shares hard to trade and largely worthless- and hasn’t outlined any plans for a share issue.
Kenny McDowall remains in charge of team matters, the players train at Murray Park while tomorrow’s match at Ibrox will continue to see the ground covered in Sports Direct advertising material.
No news has emerged today of any new directors while Deek Llambias and Barry Leach retain their executive positions, and generous benefits, at the club.
Further problems are expected over fan power with Mr King having to choose between Rangers First and the Rangers Supporters Trust for a seat on the board.
Despite the re-appearance of Mr King and Mr Murray, both involved in the board prior to the liquidation of Rangers, the SFA haven’t issued any statement.
