Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Lloyds Bank standing in the way of Rangers takeover

Mon 28th Mar 2011 | Clubs Ownership

Rangers prospective new owner must pay Lloyds Bank an 'exit payment' if he is to complete his takeover of the Scottish Premier League club

Craig Whyte's protracted bid to take over Rangers enters a critical stage this week with the Bank believed to be the main stumbling block to the deal being concluded.

According to reports from the Press Association Sport, the £33m bid will see the Scottish tycoon take over 75% of Sir David Murray's shareholding, with London-based property developer Andrew Ellis becoming a 25% partner.

However, it’s understood that the bank's desire for an 'exit payment' of more than £1million is one of the key stumbling blocks.

Rangers are expected to announce that the club's debt has been slashed to around £21million from the £27.1million figure announced in June 2010.

Whyte will continue takeover talks this week but is desperate for the deal to be done by Thursday, with the following day, April 1, being ruled out.

The takeover plans include vows to wipe out the debt and invest £25million in the team over a five-year period.


Advertisement - KABA Turnstiles






If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk


Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Portsmouth Enter Possible Takeover Talks

Thu 23rd Mar 2017 | Clubs Ownership

Portsmouth Football Club has confirmed it’s in talks regarding a potential takeover. In a statement released by the club, they said: “Portsmouth Community Football Club would like to...

Walker Morris Advise On Leeds United Sale

Thu 5th Jan 2017 | Clubs Ownership

Specialist Sports Law Team at Walker Morris reinforces its national reputation for football club acquisitions/sales with the latest sale of Leeds United FC. Specialist sports lawyers at Walker Morris...

Aser Group Holding Acquires 50% Of Leeds United

Wed 4th Jan 2017 | Clubs Ownership

Aser Group Holding has completed its investment in Leeds United Football Club today. Leeds United Football Club has confirmed Aser Group Holding, through its acquisition vehicle Greenfield Investment...

Notts County Sold To Local Businessman

Mon 19th Dec 2016 | Clubs Ownership

Notts County owner Ray Trew has confirmed the sale of the club after reaching an agreement with local businessman Alan Hardy. Having held discussions with a number of prospective buyers in recent...