Fan anger as Rangers settle Imran Ahmad court action
A group representing Rangers fans has said it is "utterly dismayed" that the club has agreed a settlement with former commercial director Imran Ahmad.
The Union of Fans accused the club's board of being "wasteful and a disgrace to Rangers" after previously promising to "robustly defend" the action.
Mr Ahmad had £620,000 of Rangers assets frozen over a claim he was owed a bonus of £500,000 and £120,000 legal costs.
Rangers said it had settled for "significantly less" than this sum.
In a statement to the Stock Exchange on Friday, Rangers said: "Rangers have agreed formal terms of settlement with former commercial director Imran Ahmad regarding his current court action.
"The sum agreed is significantly less than the total amount which Mr Ahmad had been granted permission to arrest.
"As part of the settlement terms Mr Ahmad has agreed to refrain from arresting funds in Rangers' bank account or in the hands of others pending the formal removal of the case from court.
"No such arrestment will now take place. The case will be formally taken out of court in the next few days."
Last week, Mr Ahmad had the money ring-fenced by the courts after Rangers said it would be unable to pay bills if a planned £4m rights issue failed.
On Tuesday, Rangers were granted leave to challenge the decision to freeze the money.
A judge had said granting Rangers the right to appeal would help raise fresh cash and ultimately "benefit both parties".
The Union of Fans - a coalition of supporters groups - said it was "utterly dismayed" by the settlement, given that the club had previously indicated it would "robustly defend" Mr Ahmad's claim.
"That this board saw fit to waste money fighting three court cases against Mr Ahmad to then settle with him is beyond parody," the group said.
It added: "This board is incompetent, wasteful and a disgrace to Rangers Football Club."