Sevco are in panic this afternoon as rumours abound about the ‘in-house corporate restructuring’.
Blazer chasers Paul Murray, John WATP Gilligan and Graeme Park have had their directorships of The Rangers Football Club (TRFC) terminated but retain their blazers with Rangers International Football Club (RIFC).
The official reason given related to a ‘tidy up’ dating back to Sandy Easdale’s directorship but with two weeks to go until Dave King has to comply with the order from the Takeover Appeal Board the shuffle seems highly suspicious.
In a bid to calm fears, but in fact increasing concerns over administration, a club source has turned to Keith Jackson of the Daily Record for clarification!
Last week the Record was excluded from King’s cocktail of porkies and moonbeams but now seem to be back in the tent.
Explaining to Jackson the source said: “Basically, this is no more than a tidying up of the club’s internal structure in the interest of sound corporate governance.
“It means there is a distinct line between the board of TRFC which will be made up entirely of executives and whose job it will be to run the club on a day-to-day basis.
“But the performance of these paid employees will in turn be monitored and judged by the directors on the RIFC board. It made little sense to have non-executive directors with a foot in both camps having to judge their own performances.
“The changes, while not essential, are in the best interests of the club’s corporate governance. To suggest this is part of some kind of dramatic restructuring of the boardroom would be quite frankly absurd.”
Two years after King’s takeover the company still has no NOMAD, no overdraft and a going concern warning on their last audited accounts.
Pay day for Kenny Miller and his pals is on Thursday which is due to include the draw bonus.
