Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Rangers shareholder sells stake

31 December 2014, 15:46

London - The largest shareholder of fallen Scottish giants Rangers, investment firm Laxey Partners, has sold its 16 percent stakeholding in the club, according to British media reports on Wednesday.

BBC Scotland reported that the firm had sold its stake for almost 2.7 million ($4.2 million, 3.5 million euros) to a consortium led by Scottish businessmen Douglas Park, George Letham and George Taylor.

The consortium recently offered the Rangers board 6.5 million to underwrite a share issue that the Glasgow club need to launch in order to recoup 8.3 million in losses and stay afloat.

Also read: But where is this God of soccer?

Rangers recently borrowed 3 million from another shareholder, Mike Ashley.

But he was prevented from raising his stake in the club from nine percent to just under 30 percent by the Scottish Football Association because of his dual interests as owner of English club Newcastle United.

Rangers are without a manager at present after Ally McCoist resigned earlier this month.

The 54-time Scottish champions were relegated to the fourth tier of Scottish football in 2012 after going into administration.

They are currently in second place in the second-tier Championship, 15 points behind leaders Hearts.



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...