Former Rangers Chairman Sandy Easdale has allegedly announced his intention to sell his remaining shares in the club.
According to The Evening Times, Mr. Easdale, his brother James and other members of the Easdale family will end their seven year association with the Ibrox club directly.
They also claim the family will sell their 6,450,000 shares for the 20p per share offered by Dave King. The offer is part of a court-ordered takeover bid.
Sandy Easdale was once the club’s fourth-biggest individual shareholder. It will bring to an end a rocky seven years in which the brothers have been at the centre of an Ibrox power struggle.
Dave King ordered to make takeover bid
The move comes after current Rangers Chairman Dave King was ordered to make an offer for the majority of shares at the club.
This was after the courts found King acted “in concert” with the so-called Three Bears in a takeover battle. This was trio of investors Douglas Park, George Letham and George Taylor. Their investment allegedly helped wrestle the club’s Boardroom back from various figures, including Mike Ashley.
McGills buses co-owner Easdale is alleged to have been allied with Ashley in the same Evening Times article.
The club are still embroiled in an off-field High Court merchandising dispute with Ashley. The club’s website infamously crashed after kits were finally put up for long-awaited sale back in September.
Mr. King currently holds 34% of the shares at Ibrox. He needs at least 50% at the end of the takeover bid, which ends 1pm this Friday, for it not to be declared null and void.
According to the Evening Times article, any projected takeover would cost King an estimated £8m.