Rangers board will face wrath of disgruntled fans at AGM

Rangers chief executive Derek Llambias
Rangers chief executive Derek Llambias

The Rangers board will face the wrath of the Ibrox support when it appears before the club’s Annual General Meeting on Monday.

The shareholder summit takes place at the home of the Glasgow giants at 10.30am and is certain to be a stormy affair.

Chairman David Somers, new chief executive Derek Llambias and director James Easdale all face re-election to the board.

But with Easdale’s brother Sandy - the football board chairman - in control of a quarter of the club’s shares and also aligned with investor Mike Ashley, that should be a mere formality.

However, with the club no nearer to financial security than they were when the directors were booed and heckled prior to last year’s AGM, they will be under pressure to explain how they plan on saving the club from another collapse.

In the time since that last explosive AGM, Ashley has grabbed control of the club, forcing both chief executive Graham Wallace and director Philip Nash to quit.

The Newcastle owner - who holds an 8.92 per cent stake in the Glasgow giants - is now pulling the strings from behind.

The £3million loan he handed the club gave him the right to hand-pick two directors and so far he has installed Llambias onto the board and ordered chairman David Somers to appoint him Wallace’s successor as chief executive.

But Rangers are still dangerously short of cash and need £8.3million before April 1 just to stay afloat.

According to reports, billionaire Sports Direct tycoon Ashley is ready to underwrite a share issue which could prove the answer to the club’s cash crisis - but that will only land the club in further hot water with the Scottish Football Association.

Hampden chiefs have already handed Rangers and Ashley a notice of complaint as they investigate the “dual ownership” aspect of the St James’ Park owner’s Ibrox involvement.

The meeting could also prove uncomfortable for boss Ally McCoist, should he decide to attend.

The 52-year-old has handed in his notice to resign and is now working the final 12 months of his Rangers reign.

But he will face probing questions from shareholders after his team allowed Hearts to build a commanding nine-point lead in the Scottish Championship title race.

There was some light relief for McCoist on Saturday as his team beat Livingston 2-0 thanks to Fraser Aird’s early strike and Simon Mensing’s own goal a quarter of an hour from the end.

But Aird said: “We just got on with training and didn’t really pay too much attention to what was happening.

“We’re here to play good football and hopefully if we can keep doing that it’ll make the fans more happy.

“Getting the three points here takes that wee monkey off our backs and hopefully we can carry that on to the game at the weekend.

“The gaffer hasn’t really said anything to us. At the end of the day whatever happens with him, he can sort out himself. He’s a big enough man, we’re just here to play football and the players can only go out and do their best on the pitch.

“We cannot influence what happens up in the boardroom.

“But the manager is here at the moment so all we can do is take things as they come. If that changes we need to deal with it but as things stand the gaffer is the gaffer.”