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Whyte completes Rangers takeover

Mon 9th May 2011 | Clubs Ownership

Craig Whyte finally completed his protracted take over at Rangers Football Club following six months of complex negotiations.

Whyte, who completed the acquisition of former owner Sir David Murray's shareholding on Friday (May 6) said; "It has been a long time coming as it has taken more than six months to conclude this deal.”

Having purchased Murray's 85.3% shareholding, Whyte is expected to inject £5m as well pledging to settle the club's debt with Lloyds Banking Group and a place a further £20m into the Clydesdale Bank Scottish Premier League champions over four years.

"Rangers are a fantastic club and we can achieve a lot,” Whyte continued.

"We can expand the commercial activities and the branding but it all comes down to doing well on the field. That's the most important thing. We need to keep winning trophies.

"I'm a passionate Rangers supporter and that's a big part of the reason I bought the club.

"At various points, to be fair to Sir David Murray as well, I think both of us kind of said: 'Let's forget about this and walk away.' But I persevered and I'm glad I did.

"Watching the football is nice but this is also a business. I plan to get under the covers of the business and there will be a lot to look at. I still have to meet the management team and speak about their plans.

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