Union of Fans demand Wallace declares 'truth' over Rangers bonus policy

RANGERS fans have urged chief executive Graham Wallace to prove the 'bonus culture' at the club has come to an end and reveal the details of his Ibrox remuneration package.

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Graham Wallace has been asked by fans if the 'bonus culture' at the club has come to an end
Graham Wallace has been asked by fans if the 'bonus culture' at the club has come to an end

The Union of Fans have thrown their weight behind former Gers director King's plans to launch a season ticket trust fund that could see millions of pounds worth of supporters cash withheld from the club until security over Ibrox and Murray Park have been handed over to the Light Blue legions.

Fans reacted with fury when it was revealed former chief executive Charles Green doubled his wages with a 100% bonus while ex-finance director Brian Stockbridge collected £400,000 at Rangers International Football Club plc posted a loss of £14.4m last year.

And, in a statement released last night, it has been claimed Wallace can also earn a 100% bonus on top of his salary,

believed to be more than £300,000-per-year.

The UoF said: "The Union of Fans has many shareholders amongst its ranks and we have been contacted by a number of them to express their concern regarding the bonus culture which has been prevalent within the Ibrox boardroom over the past couple of years. There has been no clarity on the terms under which new executive directors have been appointed.

"Most notable amongst these is obviously the CEO, Graham Wallace. We would therefore urge Graham Wallace to disclose publicly whether or not he has ended the bonus culture within the club or whether it has continued with new appointments.

"We do not feel that, under circumstances in which the club is losing large amounts of money on a monthly basis, shareholders should have to wait until the audited accounts are published to find this out.

"These accounts will not be available until near the end of the year."

The call for Wallace to reveal his wage and bonus structure comes as tensions have risen between the under-fire Ibrox board and the fans alliance that have backed King's plans.

Pressure has built on the Ibrox hierarchy in recent weeks as King has made his move for control of the club and the UoF said: "Once again we would ask Mr Wallace to act on his stated intention to be open and honest with fans and shareholders.

"So far we have heard a lot of words about engagement and building trust but no real action. If he wants to build trust then he should be happy to rule out that this type of culture is still ongoing."

In response last night, a Rangers spokesman said: "Rangers Football Club does not comment on the details of any employee's compensation.

"Mr Wallace, as a director of Rangers plc, will have his remuneration fully disclosed in the

annual accounts in the normal manner. The club will update fans and shareholders on its business review next Friday as previously announced."

Football

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