Rangers chairman Dave King has been robbed at gunpoint outside his office in South Africa.
The 64-year-old said four men wearing balaclavas held a gun to his head during a “brazen” ambush.
One of the men robbed him of his watch, money and laptop, while his security guard and office manager were threatened.
Mr King said he had been scared for his life during the robbery in Johannesburg last Monday.
He said the South African authorities had failed to stem a “pandemic” of crime and lawlessness.
“As I arrived at the office they came up behind me,” he told The Times. “There were four guys who had guns and were wearing balaclavas.
“One of them pointed a gun at my head and another took my watch off my wrist. It was in broad daylight and they were completely brazen.”
He added: “I was scared for my life. I said to myself, ‘Let’s not be brave and let’s not be stupid. Whatever you do, don’t agitate them, and let them getaway with whatever they want to take’.”
He added: “One of them said, ‘Where’s your money?’, so I took all my cash out and gave it to them.
“They took my laptop, my case, my drivers’ licence, diary, phone and all the things I need to function.”
The businessman has led the Ibrox club since 2015 but is due to step down next month.
The Times reported that both Mr King’s daughters had been held up at gunpoint recently.
Mr King said of security in the country: “Crime is absolutely out of control here. It’s a pandemic.
“My sons have moved to London and half of their friends from school and university have gone too.
“Young people, both black and white, who should be the future of South Africa, are leaving.”