Rangers Take Over

[sapper756]

Gers takeover hits snag

 

Whyte frustrated as talks set to drag on

 

 

http://img.skysports.com/10/11/460x238/ibrox800_2531114.jpg

 

It is understood that Craig Whyte's bid to buy Rangers is set to drag on after some board members decided they would prefer to wait for the deal to be concluded at the end of the season.

 

The protracted takeover saga had appeared to be moving towards a conclusion and it is understood that Whyte was in a position to complete the deal on Monday night.

 

The proposed deal, which was originally costed at around £33million, would see the Scottish tycoon take over 75% of Sir David Murray'shttp://static.lingospot.com/spot/image/spacer.gif shareholding, with London-based property developer Andrew Ellishttp://static.lingospot.com/spot/image/spacer.gif becoming a 25% partner

 

Having met all the criteria laid down by Murray and agreed terms with Lloyds Bank, the Whyte camp is now understood to be unhappy with the hold-up after board members including chairman Alastair Johnston asked for talks to continue to the end of the season

 

 

Delay

Johnston is part of the independent committee which comprises ofRangershttp://static.lingospot.com/spot/image/spacer.gif board members - including chief executive Martin Bain, John McClelland, Donald McIntyre and John Greighttp://static.lingospot.com/spot/image/spacer.gif - and although they cannot block the deal going through, they could delay it

 

It is understood that Motherwell-born businessman Whyte is reluctant to allow the saga to stretch until the end of the campaign as the club have season tickets to sell and manager-in-waiting Ally McCoisthttp://static.lingospot.com/spot/image/spacer.gif has pre-season preparations to make and a squad to assemble.

 

Whyte, who made his money as a venture capitalist and is now based in London, confirmed in a statement to the Stock Exchange back in November that he was considering making an offer for Rangers and was in talks with Murray International Holdings.

 

If he succeeds, a sum of around £25million could be made available over five years for investment in team development, as well as the club's debt being paid off

 

 

 

 

[geordie1234]

On the radio tonight it said the deal was out the window more or less said something like this week was the first time they actually saw any figures from Whyte and it showed little or no money to buy in new players and strengthen the side then is said the Rangers chairman said they are looking at another option which see £25,000,000 injected into the club from another source

[frank-123]

don't you bhoy's worry about rangers if celtic don't win the league this year you watch how the sell there good players to cut there debt

[harky]

BOTTLS ARE CRASHIN FRANK

[jonl6280]

heard it was a indian that owns ta ta , whos interested, never heard awe him .

 

 

tata , thats the same company that owns jaguar land-rover..... all the palyers will get a company 4x4

[geordie1234]

don't you bhoy's worry about rangers if celtic don't win the league this year you watch how the sell there good players to cut there debt

Frank i think Celtic will sell them win or lose the league its the same old p i s h