New takeover rumours at Rangers
Submitted by WG on Sun, 07/03/2010 - 16:41
The board of Glasgow Rangers has denied reports that a takeover of the club is imminent, but have not ruled it out. It is thought that the cash strapped SPL club at one time had debts of £31 million. Although they made half year profits of £13m, the overall financial outlook remains bleak.
Property developer Andrew Ellis is reported to be lining up an approach, but two other consortiums are also reported to be interested. Ellis is a former QPR director and is reported to be prepared to offer around £33m for the SPL leaders.
