Business Directory

Browse the Directory

Sign Up to the Directory

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

Rangers in takeover talks

Thu 18th Nov 2010 | Clubs Ownership

Scottish Premier League title holders Rangers Football Club, look set to get new owners as Craig Whyte and Andrew Ellis confirm they are in talks over a joint bid to buy Sir David Murray's shares.

It’s understands that, if the deal goes ahead, Whyte will hold a 75 per cent stake in the pair's purchase of Murray's 92 per cent shareholding with Ellis, who failed in a takeover bid earlier this year, will hold the remaining 25 per cent.

The pair expect to make the £33 million purchase soon and have pledged that, £27.5 million will be spent clearing Rangers' debts with Lloyds TSB. A further £5.5 million will then be spent on paying shareholders, with 85 per cent of that figure going to Murray.

A statement, released on Whyte's behalf on Thursday morning, read: “Craig Whyte notes the articles in today's press regarding discussions between him and Murray International Holdings Limited ("MIH") with a view to him acquiring MIH's majority shareholding in Rangers Football Club Plc ("RFC").

“Mr Whyte confirms that he is considering making an offer for RFC and is in talks with MIH but that these are at an early stage and there can be no certainty that an offer will ultimately be made.

“Mr Whyte has not yet approached the board of RFC. A further statement will be made in due course.

"This is an announcement falling under Rule 2.4 of the City Code on Takeovers and Mergers (the "Code") and does not constitute an announcement of a firm intention to make an offer. Accordingly, there can be no certainty that a formal offer for Rangers Football Club Plc will be made."






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

Ossett Albion Takeover Brings Readymade Academy

Wed 13th Sep 2017 | Clubs Ownership

The founders and directors of Unita, a local based facilities management company, have taken the reigns at Ossett Albion in a move which sees the EVO-Stik North club inherit a ready-made football...

Southampton Secures Chinese Investment Partners

Mon 14th Aug 2017 | Clubs Ownership

Southampton Football Club has announced the formal conclusion of talks which will see Chinese businessman Mr Jisheng Gao take a stake in the Premier League club. In a letter to fans issued on Monday...

Altrincham FC Seek New Investment

Thu 13th Jul 2017 | Clubs Ownership

At a recent Extraordinary General Meeting, the shareholders of Altrincham Football Club passed a series of motions which will now allow the club to bring in new investors. A new controlling share in...

Hartlepool United Announced Club Restructure

Wed 28th Jun 2017 | Clubs Ownership

Hartlepool United Chairman, Pam Duxbury has announced the first phase of the club’s restructure following relegation to the National League and subsequent resignation of Gary Coxall. Coxall...