King claims victory in Ibrox battle

DA VE KING is on the verge of ascending the Rangers throne after claiming Ibrox chief executive Derek Llambias has admitted defeat.

But despite securing a “landslide” victory in his battle for power, Llambias and the club’s only other remaining director Barry Leach are refusing to vacate the boardroom before Friday’s general meeting.

King claims the long-term associates of Newcastle United owner and Gers investor Mike A shley have both “stubbornly” refused to resign ahead of Friday’s shareholder vote at Ibrox while they demand pay-offs.

The boardroom duo hit back at those claims, insisting they are remaining in position to ensure the club’s shares were not suspended by bosses on the A IM market.

One way or another, King will force them out by Friday at the latest.

A lthough courtesy of the £10 million loan A shley handed to the club late in January, the Sports Direct tycoon has the right to nominate two more directors and there is every chance A shley could push Llambias and Leach back through the front door on Edmiston Drive come Monday morning.

The sportswear magnate remains defiant in the face of King’s power grab and the £7,500 fine handed to him by the Scottish Football A ssociation yesterday for breaching “dual ownership” rules.

He has even given Llambias and finance director Leach the green light to start proceedings that will allow them to withdraw the second £5m tranche of the January loan, which the directors say will be needed before the third week of this month.

King will have to tread carefully with a man recently named the 306th richest person in the world.

But the former oldco director is confident he can lead the club to a brighter future having already chased off chairman David Somers and director James Easdale ahead of his shareholder vote.

King, who will now take over the running of the crisis-hit Glasgow giants alongside former director Paul Murray and ex-Glasgow brewery boss John Gilligan, said in a statement: “A ll of the Rangers directors that are subject to my requisition have now accepted that my resolutions have been successful and there is now no need for the general meeting to proceed.

“Mr Llambias put it best by advising me that I had achieved a ‘ landslide’ victory.

“I wish to thank all shareholders, and particularly the fans, for this resounding success.

“The future now looks more recognisable for all Rangers stakeholders.

“James Easdale and David Somers did the right thing by resigning however the two appointees of Mr A shley have stubbornly refused to resign and are using their current position (as remaining directors) to withhold implementation of the resolutions for personal gain.

“Now that the incoming board and I can focus on the future I will issue a further press statement outlining the immediate and intermediate steps that we have to take as we commence the road to re-establishing Rangers to the institution that its legacy demands.”

King also released an email he sent to Llambias and Leach yesterday morning in which he tells the pair to do the honourable thing and quit before the shareholders summit.

SNS Group. Dave King.