Rangers withdraw from American court case as board sees pursuit for damages damned
Rangers have withdrawn their court case against an American businesswoman who was hoping to earn an investment deal, according to Chris Jack for the Glasgow Times.
Kyle Fox and KRF Capital were in question by Rangers over claims that she was trying to pull the wool over investors’ eyes, claiming that stakes in RIFC plc were up for grabs and given the nod by chairman Douglas Park.
The report suggests documents were filed in Florida on Thursday indicating that Rangers will not follow up in their efforts to chase a case two months after starting proceedings.
This means no damages or costs will be awarded to Fox or KRF Capital in an absolutely bizarre turn of events, especially when you consider Gers only just made the complaints.
Lawyers for Fox described the Rangers board and ordeal as “nothing more than an all-male board’s attempts to bully a Miami-based female investor into dropping her lawful bid to acquire an ownership stake in the club and to publically intimidate the minority shareholders with whom she was in discussions into not selling their shares.”
Strange.
Fox had claimed that her firm were buying Gers and was using their crest and logos to lure potential suckers into a deal with them.
It seems Fox was initially trying to drum up money to buy a stake in the Light Blues after two failed bids from her for 75 per cent and 25 per cent.
There are definitely two tales to this tape and whether or not Rangers are in the wrong remains to be seen but judging on their failed court case they could be.
We all know how backward the Rangers board are and it’s hardly surprising their lack of willingness to take on new investment to drive some much-needed money into the club.
At least Gers have that really nice Sky broadcasting deal to fall back on, oh wait, that’s old-fashioned and behind the times too.
Whatever went down in this one seems to have been put to an end by Rangers’ withdrawal, there will undoubtedly be more news on this matter in the coming days and weeks.
In other Rangers news, Ross Wilson may have played a blinder for Rangers after a shocking development in October that will leave many Gers fans surprised.