Monday, 3 August 2015

Douglas Park quits Rangers



Rangers have tonight confirmed that Douglas Park, non-executive director of Rangers International Football Club PLC has stepped down from his position on the board to be replaced by his son Graeme.

Park, whose coach business was recently reinstalled as the official partner of Rangers’ transport, has as yet not given any specific reason for his resignation, citing ‘other commitments’ as cause that he cannot devote the due attention to the role, and has as such been replaced by his son on board the RIFC and The Board.

In a statement tonight the BMW magnate said:

"I would like to put on record that although I held the position as Director for only a short period of time it has been an honour and a privilege to serve the Club and I will always be proud of the part I played in bringing this great institution back into the hands of those who have its best interests at heart. I am confident that going forward the Club is in good hands and will offer all my support to the Board in pursuing what is best for the Club. Rangers is hugely important to me and my family and I am delighted that Graeme is joining the Board."

Park was a highly-respected member of the board and of the business world, so his departure is something of a blow, but hopefully his son will replace him adequately.

7 comments:

  1. The important thing is Parks continuing public endorsement of and obvious faith in the current board. That and the fact that he is continuing his families close involvement in the club makes what could have been an alarming announcement into something much more reassuring.

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    1. Totally agree, Donald. Unfortunately, the doom-mongers are already out. As you say, the fact that Park continues to endorse the Board and is being replaced by his son should be enough to reassure all sensible supporters that nothing terrible is happening. Some supporters are just so pessimistic or paranoid that they need to look for something sinister in every bit of news, while other posters will be up to their usual mischief-making.

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  2. I'm sorry by the pessimism that I have for rangers board members has kicked in, he stayed in just long enough to get the lucrative contract then bails. What exactly did he do for us? What was wrong with the Bruce contract that we ended a year early? Did we have to pay off Bruce coaches? Is this an example of how we lost 10s of millions over the last few years?

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    1. Bang on Richard - good to see some folk do not just walk around all the time totally blind and prepared to listen to the direction any clown gives them.

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  3. Was it Parks shares thar recently were sold?

    No secret that he was at loggerheads with King and his continuing lack of investment.

    Rumour not gone away that Park loaned King the money for him to buy his shareholding, perhaps that's why Park's son has stepped in........to keep an eye on part of his inheritance.

    Big improvements on the park, still a shambles in the boardroom.

    An ISDX advisor may well have been appointed but his work will be cut out getting the club relisted because of the number of obstacles to be overcome.

    As pointed out by previous posters proof of funds that working capital is in place to cover 12 months trading is required. This will be approximately £20m, King can't pony up because SARS and SA exchange rules prevent him........that is if he had any intention in the first place!

    This will be why King has asked Ashley for another £15m to cover the ISDX requirement..........how have Level 5 managed to keep this out of the media?

    All anyone has to do is go to the Internet and type in ISDX requirements for listing!

    The working capital won't be the only problem.........see requirements on accounts, auditors and share ownership!

    A share issue will only happen if Ashley stands behind it......end of.

    Has anyone heard any ting at all about King meeting with SD to discuss the merchandising deal......no, didn't think so.



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  4. Good point Richard Grant, the timing was a bit funny in leaving and how much was the previous bus contract compared with the New one? Will the board be transparent over this? Hate being negative but don't trust this board one little bit, king has already told us lies. Watp

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  5. Ffs....the bus contract!!!!!

    That should be the least of your worries.

    Park has been the lender of last resort over the last few months. Without his input the club would be in administration.....again.

    His son will take his place and make sure that no more of the family inheritance is given away as pay day loans.

    Over to you Dave.......oh, and Park's loans are due to be repaid in December.

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