Rangers have named John Bennett as the club’s new chairman as Douglas Park steps down against the backdrop of another share issue.
Rangers announced that Douglas Park would be stepping down after three years via a statement on the club’s website.
Park took charge in the March of 2020, mid-pandemic, taking over from the outgoing Dave King, who returned to his business interests in South Africa.
The motor group tycoon’s time in Govan will be remembered for securing 55 and reaching the Europa League Final but in reality the contribution made by Douglas Park to the Gers has been a lot more than that both financially and personally.
The outgoing Rangers chairman would describe the stint at the top of the club as a “great honour” as he reflected on his eight years as a director.
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John Bennett named Rangers chairman over Douglas Park
Now, the personable and likeable John Bennett will take the reins as Rangers move into a new era.
Bennett is taking over at a pivotal time for Rangers, who have surrendered their brief Scottish footballing dominance back to Celtic.
The club also toiled on their return to the Champions League and it is abundantly clear that investment is needed in the summer.
John Bennett also spoke to Rangers after being appointed at Ibrox chairman but took the opportunity to focus on the contribution of Douglas Park to the club.
“On behalf of all my colleagues, and indeed the entire Rangers family, I want sincerely to thank Douglas for his eight years of service,” said John Bennett.
“Over the last three years, he led the club during exceptionally challenging times.
“It’s a source of great comfort that Douglas, although no longer a board member, will be by our side to support us in our relentless pursuit of success.”
The news comes against the backdrop of a fresh share issue at Ibrox, which will issue 7.7m of shares at 25p each.
This means the club is set for around £2m of fresh investment as conversations continue around the number of share issues surrounding the club.