New Era for Rangers: John Bennett Takes Over as Chairman
Douglas Park steps down as Rangers chairman, with John Bennett taking over. Fresh investment comes with a share issue at Ibrox, as the club looks to the future.
Douglas Park, who was the Rangers chairman for three years, is stepping down from his position. This was announced on the club’s official website.
He took over during the pandemic in 2020 after Dave King returned to his business interests in South Africa.
Park’s time in charge was memorable as he helped secure the club’s 55th championship win and led them to the Europa League Final. But his contribution to the club went beyond just those achievements.
He made a significant financial and personal impact during his eight years as a director. He describes his stint as the club’s top man as a “great honour”.
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Now, we have John Bennett taking over as the new chairman. He’s a personable and likeable guy who’ll lead the club into a new era. But he’s got his work cut out for him, as Rangers have surrendered their brief dominance over Celtic in Scottish football. They also had a tough time during their return to the Champions League, so investment is needed this summer.
"Bennett spoke about the contribution that Park made to the club after his appointment. “On behalf of all my colleagues, and indeed the entire Rangers family, I want sincerely to thank Douglas for his eight years of service.”“Over the last three years, he led the club during exceptionally challenging times.”“It’s a source of great comfort that Douglas, although no longer a board member, will be by our side to support us in our relentless pursuit of success.”"
The news of his appointment comes with a fresh share issue at Ibrox. The club will issue 7.7m shares at 25p each, which means they’re set to receive around £2m of fresh investment.
There are still conversations happening around the number of share issues surrounding the club.