Fans want answers on Wallace bonus

RANGERS supporters last night urged chief executive Graham Wallace to disclose whether or not he can collect a financial bonus for his work at Ibrox. The Union of Fans, a coalition body backing Dave King and the plan to withhold season-ticket money, are pushing for confirmation that the remuneration ‘culture’ witnessed during Charles Green’s tenure has been completely dismantled under the current board. Green and former finance director Brian Stockbridge were eligible to double their money when Rangers won the Third Division last season — arrangements which outraged fans. While there is no suggestion that Wallace has any similar deal related to on-field performance,

he is being pressed by the Union of Fans to provide answers on his take-home pay before the figures are published in the club’s year-end accounts. ‘The Union of Fans has many shareholders amongst its ranks and we have been contacted by a number of them to express their concern regarding the bonus culture which has been prevalent within the Ibrox boardroom over the past couple of years,’ said the supporters’ statement. ‘There has been no clarity on the terms under which new executive directors have been appointed. Most notable amongst these is obviously the CEO, Graham Wallace. ‘We would therefore urge Graham Wallace to disclose publicly whether or not he has ended the bonus culture within the club or whether it has continued with new appointments. ‘We do not feel that, under circumstances in which the club is losing large amounts of money on a monthly basis, shareholders should have to wait until the audited accounts are published to find this out. These accounts will not be available until near the end of the year. ‘Can Mr Wallace, for instance, earn an annual 100-per-cent bonus on his salary, which it has been said is in excess of £300,000 a year? ‘In the past, we have seen Charles Green double his salary with a 100per-cent bonus, while ex-financial director Brian Stockbridge was also awarded a £200,000 bonus to double his salary. ‘Will Graham Wallace also be able to double his salary to considerably more than £600,000 a year, or has he ended that type of bonus culture within the Ibrox boardroom? ‘Once again, we would ask Mr Wallace to act on his stated intention to be open and honest with fans and shareholders. So far we have heard a lot of words about engagement and building trust but no real action. If he wants to build trust, then he should be happy to rule out that this type of culture is still ongoing.’ Rangers last night issued a short statement in response. ‘Rangers Football Club does not comment on the details of any employee’s compensation,’ it said. ‘Mr Wallace will have his remuneration fully disclosed in the annual accounts in the normal manner. The club will update fans and shareholders on its business review next Friday as previously announced.’ The Union of Fans are also want Wallace to respond to issues raised by King in his latest statement. ‘We also still await answers to the questions posed by Dave King and, in particular, the question regarding Mr Wallace’s AGM pronouncements about the cash position of the club, which we do not believe to have been true,’ added the statement. ‘Mr Wallace cannot continue to ignore these extremely serious questions if he expects to build any sort of trust with the fans and shareholders.’