Queen of the South chairman rejects approach for shares

Queen of the South chairman David Rae

Longstanding Queen of the South chairman David Rae has rejected an offer for his shareholding in the First Division club.

Preston-based Media Pro Sports made an approach for Rae's 26% stake in the Doonhamers.

However, the 74-year-old told the club's website that he intended to retain all of his interest.

He said: "An offer was made for my shares on Monday night and having slept on it I have made a final decision."

Rae has been in the chairman's position for nine years and told BBC Scotland: "I just feel I would rather retain my shares.

"If this same consortium came back in [with an improved offer], then it would be a no.

"But if someone from within the south west of Scotland came in and I felt comfortable with it, then I might consider it."