A Monday morning stock exchange announcement has confirmed the Rangers Chairman resigns.

Mike Ashley ally David Somers has left the board, though the likes of Barry Leach and Derek Llambias still remain.

The news follows the resignation of another Rangers Director, James Easedale, who resigned last week.

The double removal is believed to be in advance of the fact that rebel shareholder Dave King and others, along with the fans, have gathered enough votes to remove the board at the EGM later this week.

However, with the club heavily in debt to Mike Ashley via the loans through Sports Direct and secured on key Rangers assets, plus the crippling merchandise arrangements also in place with the Newcastle owner, the battle is hardly won just yet for those in Scotland trying to escape Mike Ashley’s clutches.

In addition, the Ashley SD loans include his right to appoint two people to the board, no matter what happens this week with the vote.

Like Newcastle fans, those north of the border will find it isn’t a simple matter to go your separate ways.

Rangers announcement to the Stock Exchange:

The Company announces that David Somers, Chairman, has resigned from the boards of the Company and its subsidiaries, with immediate effect.

Commenting on his resignation, David Somers said:

“I have resigned as Chairman of Rangers International Football club plc.  I have worked in the City of London, the world’s greatest financial centre for decades and enjoyed considerable success.

“When I was approached about the Chairmanship of Rangers, friends warned me that the world of football has different rules and codes of behaviour. I now know that is a gross understatement.

“I am a non-confrontational man and have always tried to bring harmony to boardrooms and with stakeholders. At the risk of antagonising my army of critics I would point out that Rangers managed to pay its bills and avoid going under during my tenure. These critics might not agree with how we achieved this.

“I look forward to alternative solutions from whoever is running the club in the future.  Despite the personal attacks on me from various sources I genuinely wish the club the very best in the future and I am confident that with such a passionate and vociferous fan base they will be restored to their former glories.”

  • Sickandtiredstill

    Fatty is also at Hampden today to face the SFA. Scottish Church Minister (who formed the RFB) joined the criticism of the existing Ibrox Board.
    Another shareholding group at SD has come out and voiced concern over the lack of corporate governance, with Fatty making major financial acquisitions while no finance director is in place.  
    He’s getting a mauling from all angles yet 52000 turn up against Villa and say nothing.
    Baaahhhhhh, bahhhhhhh.

  • Demented_Man

    Llambias – time for you to walk before you suffer the humiliation of being kicked out, I think.  That’s if Mike will let you.

  • Greekgeordie

    It is about time the Mag stops becoming the voice of Rangers, it all starts to indicate an anti Ashley war than what is good for Newcastle.

  • DavidDrape

    Greekgeordie i say let the truths be put out into the open and let each individual then make their own mind up. everything at RIFC effects/relates to us. maybe we can learn some things from rangers fans in how to protest?

  • Greggy164

    Glad to see the back of this chancer. Just Llambias and Leach to go.

    Are Newcastle fans sick hearing about Rangers? I am and Im in Glasgow

  • A lex

    Greggy164 Nope, we’re very closely linked. I’d say that NUFC’s own immediate future is closely dependant upon that of Rangers and Ashley’s involvement, so it’s right that we should take a keen interest in what’s going on up there.

  • Greggy164

    A lex Greggy164  Oh my. A lex your answer threw me a little.

    Yes there are links between clubs but what happens up here wont really effect whats going on at your club.

  • Sickandtiredstill

    Greggy164 A lex it may well affect a lot if King follows through with the forensic audit threat.
    We have no clue at all down here what the retail deal means or how it works out in and for our own club. 
    Add to that more reporting on how Ashley does his business – how he got into Rangers with Greene –  and there is much to learn.

  • Sickandtiredstill

    Greekgeordie Ashley, and what is good for Newcastle – used in the same sentence?

  • Greggy164

    Sickandtiredstill Greggy164 A lex  His interest in Rangers is all about selling Tshirts. There was a statement about adding Rangers to the SD machine. 1 line gave the game away. We will sell more Tshirts with SDs help. Not the exact words but that was the message. What you hear about Ashley wanting to take Rangers to the C/L is a lot of pish.

  • Sickandtiredstill

    Greggy164 Sickandtiredstill A lex Yes mate, the sensible of us down here get that. Waiting to see how bad the retail deal actually is for RFC so we have some idea how much he is screwing this club for as well.
    The deal itself, struck in 2012, was before he put a penny into the ‘Gers. Looking forward to King getting to the bottom of that, Actually, looking forward even more to Llambias jumping ship before friday!