Ex-Newcastle United MD joins Rangers
Mon, 3rd November 2014

Ex-Newcastle United MD joins Rangers

Newcastle United's former managing director has joined the board of Rangers FC after being put forward for the role by Mike Ashley's MASH Holdings.

Derek Llambias has joined the Scottish side as a non-executive director.

The appointment comes just weeks after Ashley loaned the club £2m. Under the terms of the facility, MASH was given the right to appoint up to two directors to the club's board.

Llambias has been acting as a consultant since 28 October 2014.

The £2m credit facility from Ashley is for a six month period, is interest free, and will be used by the club for "general working purposes".

The loan follows Rangers' chief executive Graham Wallace and director Philip Nash both stepping down from their positions after MASH had requested Rangers to remove the pair.

Ashley is the second largest stakeholder in Rangers International Football Club with 8.92 per cent, behind Laxey Partners which holds 16 per cent.

category North East  |  source Insider Media