David Somers is set to resign as Rangers' Chairman
Somers’ departure is expected to be announced to the Stock Exchange today and will spark celebrations amongst the Light Blue legions.
King had called for an Extraordinary General Meeting to remove the current board of directors. The South Africa-based tycoon had needed more than 50 per cent of the shareholding but is set to claim more than that and that should allow him to install Paul Murray and John Gilligan on to the Ibrox board.
It now remains to be seen if the EGM will go ahead as the current board know they are on to a loser. Wednesday is the deadline for the vote and the EGM is planned for Friday. Somers has been seen as a dead-duck chairman for some time.
Newspaper Review – Sunday 01 March
He lost control at the AGM back in December where he was barracked by angry shareholders and then a leaked email showed him to be in cahoots with Sports Direct owner Mike Ashley – who has loaned more than £10million to the club.
Rangers chief executive Derek Llambias and director of finance Barry Leach are not expected to tender their resignations. They have both been put in place on the board by Ashley.
Former director King also hopes to return to the Ibrox board but will have to prove he can pass the SFA’s fit and proper person test after he was involved with Rangers before they went into administration and he will also have to explain his own tax issues back in South Africa.
King is ready to plough more than £20 million into the club with his consortium.
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