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Scottish Leagues

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New era at Rangers?

The Dave King consortium has acquired control of Rangers leading to hopes of a new era at the troubled club.  King is an exiled Glaswegian living in South Africa, where he has pleaded guilty to charges of tax evasion.  He is generally seen in a favourable light by supporters given the performance of the old board.    He will, however, have to pass a fit and proper person test.

James Easdale gives way to fan pressure

Bus tycoon James Easdale has resigned from the Rangers board in response to fan pressure.   His brother Sandy, who is a bigger shareholder, is chairman of the board.  James Easdale's home in Greenock was targeted by vandals last year who painted graffiti.

Modi wants to buy stake in Rangers

Lalit Modi, the commissioner of cricket in the Indian Premier League, is interested in buying a 26.6 per cent stake in Rangers.   He thinks that the club is currently under valued.   He is targeting the shares held by the Easdale brothers.

Talks are at a very preliminary stage, but some argue that events in his past do not make him a suitable person to be involved in a football club.

Ashley tightens grip on Rangers

Mike Ashley his tightened his grip on Rangers after the club agreed to accept his offer of a £10m loan. They turned down an alternative offer from the so-called Three Bears Consortium.

The club told the Stock Exchange that the terms negotiated with Sports Direct 'represent the optimum combination of quantum and duration of funding, allowing the company time to arrange permanent capital which can be used for strengthening the playing squad.'

Crisis deepens at Rangers

The power struggle at Rangers has deepened after former director and 14.6 per cent shareholder Dave King mounted a bid to remove four members of the board of the club, including the chairman David Somers, the chief executive Derek Llambias, and finance director Barry Leach.

The resolution by New Oasis Asset Management, Mr King's family trust, also proposes appointing to the board Mr King and his allies Paul Murray and John Gilligan. The attempted boardroom coup is the latest instalment in the manoeuvring between rival shareholders trying to secure control of the club.

Ashley loan comes with conditions

Mike Ashley is prepared to lend Rangers £10m, but his offer comes with conditions that are unacceptable to Rangers fans.   The Union of Fans umbrella group has asked for a demonstration and boycott at tonight's match against Hearts in response.

Rangers reject takeover offer

The Rangers board has rejected a takeover offer from American Robert Sarver who has an interest in the NBA side Phoenix Suns.   The Suns have not done outstandingly well, but Mr Sarver is also a banker.  He is chairman and chief executive of Western Alliance Bancorp.   It is a small bank based in Arizona despite the rather grandiose title, but the shares have gone up 600 per cent in five years.

Dundee United in profit - again

It is not that often that a football club records a profit, and even remarkable when they achieve in four of the last five years.   But that is what Dundee United have done with a profit of £1.218m in the year to June 2014.  These figures do not take into account millions made in the transfer market over the summer.

Three Bears take Rangers stake

The so-called Three Bears consortium has acquired a 16 per cent stake in Rangers, making them the largest shareholders in the club,   The consortium is made up of Scottish businessmen George Letham, Douglas Park and George Turner.   Its involvement offers the club a new way forward without the complications associated with Mike Ashley's attempts to take control.

Shareholders turn down Rangers rights issue

The Rangers board failed to persuade fans to back a rights issue at the annual general meeting, leaving the club face a funding gap in the new year.    The board needed 75 per cent of the votes, but did not even manage a straight majority.  The resolution was rejected by 55.2 per cent.

Chairman David Somers and other board members were heckled and booed by shareholders and fans. Almost 39 per cent of shareholders voted against the reappointment of the chairman.