Rangers chairman Dave King says some shareholders have links to organised crime 30 Nov From the section Rangers Share this page Share this with Digg Facebook Google LinkedIn Reddit StumbleUpon Twitter Copy this link http://www.bbc.co.uk/sport/football/46403987 Read more about sharing. Rangers chairman Dave King was initially ordered to make an offer of 20p a share to…
Rangers chairman Dave King says some shareholders have links to organised crime
Rangers chairman Dave King has told a court he suspects some shareholders in the club have links to organised crime.
At the Court of Session of Edinburgh, King said he is now “100% committed” to making an offer for the remainder of the club’s shareholding.
He was ordered to do so after being found to have worked with others when taking control of the club in 2015.
But King said he could not make an offer to four shareholders because of their claimed criminal links.
He said that a Rangers board meeting last Monday concluded that the four could not transfer their stakes, adding that one of them was “engaged in criminal activities in the USA”.
King has been in dispute with the Takeover Panel, who applied to have the South African businessman held in contempt of court for refusing to comply.
The Ibrox chairman had argued he should be allowed to ring-fence funding for the offer in South Africa but told the court, in front of Lady Wolfe, that after exhausting all options, he will now agree to transfer funds to the UK.
The Takeover Panel want financial guarantees of around £19m to be held by a third party.
As part of his evidence King also listed key shareholders who, he says, have told him they will not take up the offer.
One of the investors mentioned was former chairman of the football board Sandy Easdale. Mr Easdale has since told the BBC he has given no such undertaking.