Wallace Mercer, the Edinburgh property developer and former chairman of Hearts FC, died yesterday of cancer, aged 59.
Mercer formed Pentland Securities property consultants in 1975, and Dunedin Property Group in 1982.
Dunedin had developed into a £135m property investment portfolio by the time Mercer sold his stake in 1993.
David Murray, the chairman of Rangers, said: “He cared passionately about what he did and was good for Scottish football as well as for Hearts.
“Wallace had a very successful property portfolio and it may have been his involvement with football which masked his business success.”
References: EGi News 18/01/06
