The protracted takeover of Rangers looks as if its nearing completion. London-based businessman Craig Whyte has been negotiating to acquire the club since mid-November last year. There have been many twists and turns along the way, but it looks as if a deal will be done within the next 24 hours.
The protracted takeover of Rangers looks as if its nearing completion. London-based businessman Craig Whyte has been negotiating to acquire the club since mid-November last year. There have been many twists and turns along the way, but it looks as if a deal will be done within the next 24 hours.
Sir David Murray will receive £6m for his 85 per cent stake in the club, the amount he paid for it in 1988. Given inflation in the meantime, this represents a substantial loss. Craig Whyte will pay off the club’s £22m debt.