Next Game

Hibernian v Rangers

Saturday, 27 December 2014, 12:15

Scots Champ

Ibrox Stadium

Last Game

Rangers 2 - 0 Livingston

Saturday, 20 December 2014, 15:00

Scots Champ

Fans want Wallace suspended

Fans of Rangers have called for chief executive Graham Wallace to be suspended in light of his recent report into the state of the club's financial health.

Last Updated: 28/04/14 at 12:23 Post Comment

Graham Wallace: Coming under fire from Rangers fans

Graham Wallace: Coming under fire from Rangers fans

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Wallace published his 120-day review last Friday when he claimed the League One champions had 'mismanaged almost all of their cash reserves' since their formation as a newco in 2012.

The review stated Rangers had raised £70m since May 2012 but by last December had just £3.5m left due to money being 'spent quickly and in some areas liberally, through decisions which were ill thought out, unstructured and poorly executed'.

But, in a response the Union of Fans group want chairman David Somers to suspend Wallace pending a police probe into allegations he misled shareholders over the club's financial position.

The group say they are "absolutely appalled" by Wallace's review and they also question the role of director Sandy Easdale.

Police Scotland confirmed at the weekend they were investigating a complaint from a Rangers shareholder that statements made by Wallace at the AGM on December 19 contravened the Companies Act.

Wallace, who was appointed in November, says the club had "sufficient cash to continue to trade in the short term" but loans totalling £1.5m were taken out in February.

The fans have criticised Wallace's review over his opinion that they need to raise up to £30m after around £70m was squandered in less than two years through "mismanagement".

They also called on Somers to respond to claims that payment processing company FirstData had first asked for security in order to continue offering credit facilities for season-ticket purchases back in January.

This follows Wallace's claim - in his review - that one of the major factors in the subsequent withdrawal of the facility was uncertainty over sales caused by the Union of Fans and former Ibrox director Dave King, who first mooted the idea of a season ticket trust fund in late February.

The statement, issued late on Sunday, reads: "Once again we have seen a Rangers board attempt to deflect the blame for their own incompetence onto fans who only want the best for the club.

"They have provided no evidence that they can raise the necessary funds to take the club forward and we have no confidence in them to do so.

"We note Mr Wallace's criticism of previous boards. James Easdale sat on the previous board from July of last year. Is he now going to be removed for his part in this financial mismanagement?"

With regards to Easdale, the fans group went on: "His public statements just prior to the review showed that he has access to information he should not."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

m only commenting on this (I don't care about Liverpool) because F365's twitter said I had call Matt Stanger a tw*t (which I don't agree with anyway) but I just wanted to be the first. Am I the first?

tk421
Trial And Error Rather Than Transition

S

unday, Sunday. Will there be a fan of either team, who if they are winning after 80 mins, won't still be nervous? This could be anything from 0-0 to 5-5, and no one would bat an eye.

megabrow (cufc)
A Season Of Continuous False Dawns

T

his year I am getting F365 a whack-a-mole game but with Brendan instead of the mole (Like the one with JD on Scrubs) and every time he pops up he says something. Outstanding Whack!, Character Whack!, Magnificent Whack!, Wonderful Composure Whack, Whack f**king Whack. Hours of fun.

hump3.
Trial And Error Rather Than Transition

Footer 365

Premier League: Martin Skrtel's late header earns Liverpool 2-2 draw with Arsenal

A 97th-minute bullet header from defender Martin Skrtel earned Liverpool a 2-2 draw with Arsenal at Anfield on Sunday.

Transfer news: Labour MP Iain Wright warns Hartlepool against signing Ched Evans

Labour MP Iain Wright has told Hartlepool to "think again" over their interest in signing convicted rapist Ched Evans.

Premier League: Neil Warnock blasts officials after Crystal Palace's 3-0 defeat at Man City

Neil Warnock said the decision to disallow a Crystal Palace goal in the 3-0 defeat to Manchester City was "disgraceful".

Mail Box

More Players In The Wrong Bloody Shirt

Plus Cristiano Ronaldo, who looks 'heart-breakingly well-suited to a Real Madrid shirt' according to one United fan. Plus, words from the good doctor and plenty more...

Players Plainly Wearing The Wrong Strip...

There are some players who just look plain daft in whatever shirt they're wearing. Like Cesc and Robin. It's a cracking mailbox with a load of different themes...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property