BUS company tycoons Sandy and James Easdale have spoken out after it emerged £100,000 had been stolen from a depot in Renfrewshire, vowing that the theft will not distract them from negotiations to secure a seat on the Rangers Football Club board.

The brothers, who own Greenock-based McGill's buses, confirmed a police investigation was under way after £100,000 cash was allegedly taken from a depot belonging to McGill's in Inchinnan, Renfrewshire.

It is understood the depot, near Glasgow, was not broken into with the money reported missing last week.

The Easdales have an important stockholding in Rangers and there has been widespread publicity surrounding their negotiations to secure a seat on the board of the Ibrox club in exchange for purchasing a larger stake.

Sandy Easdale, 45, said: "This is now a police matter and, therefore, it would be improper of me to comment further on this particular incident.

"What I will say, however, is that McGill's has a turn-over of £35 million a year and that is only one of our UK investments.

"We are happy to give autonomy to our individual managing directors and, where theft is an issue, these managers know to act promptly and efficiently.

"That's why the matter is now in the hands of the police."

James Easdale, 42, added: "I suppose we shouldn't find it puzzling this story should get such coverage while we are involved in sensitive negotiations to win a seat on the board of Rangers.

"We will not be distracted in this aim by unrelated media reports."

Police Scotland said inquiries were ongoing.