Stefanovitch 0 Posted April 5, 2011 Share Posted April 5, 2011 Apparently deal is done for a total of around �£50million including the purported �£5million per annum player investment. As ever caution is to be expressed at this news and until we hear from Whyte but this looks like a new era bears! Caution indeed. Strange that �£50m has been quoted or is that to hide what Lloyds and Murray get? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted April 5, 2011 Author Share Posted April 5, 2011 Caution indeed. Strange that �£50m has been quoted or is that to hide what Lloyds and Murray get? �£25million purchase price and �£25million ongoing investment 0 Quote Link to post Share on other sites More sharing options...
theboyharley 5 Posted April 5, 2011 Share Posted April 5, 2011 Great news 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted April 5, 2011 Author Share Posted April 5, 2011 http://www.skysports.com/story/0,19528,11781_6853629,00.html Sky Sports News understands that Rangers owner Sir David Murray has agreed a deal to sell the club to Craig Whyte. Scottish tycoon Whyte has been locked in talks for some time over Murray's 75 per cent stake with partner Andrew Ellis due to become a 25 per cent partner. Whyte has brokered a deal that will see him buy their stadium Ibrox and the surrounding land along with the club's Murray Park training ground, if approved by the club's Board. The deal is expected to cost Whyte around �£28million but the overall cost of the club for the new owner is expected to be twice as much having given assurances he will invest �£5million in the squad in each of the next five seasons. Whyte's investment will clear their Term loan believed to be in the �£18million region, their main debt immediately with Lloyds Banking Group and the other smaller loans will be cleared over time. Whyte's offer will now be presented to Rangers' Board for approval and it is expected they will ratify it due to any long-term complications that could arise due to lack of investment. Should the club's Board give the green light to accept Whyte's deal then the SPL champions could be taken over officially this week, ending a long and uncertain period for the Light Blues. 0 Quote Link to post Share on other sites More sharing options...
Gribz 743 Posted April 5, 2011 Share Posted April 5, 2011 Most welcoming news for me is the saga which has been going on for years could finally be over and it will put stability into the club. Big timly boost to go and get 3 points tonight. 0 Quote Link to post Share on other sites More sharing options...
Gazza_8 233 Posted April 5, 2011 Share Posted April 5, 2011 Another step forward...... 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted April 5, 2011 Share Posted April 5, 2011 http://sport.stv.tv/football/scottish-premier/rangers/241454-rangers-takeover-talks-at-advanced-stage/ STV understands Craig Whyte’s bid to acquire Murray International Holdings’ majority shareholding in Rangers Football Club is at a “very advanced stage”. It is understood a couple of outstanding issues remain between the two camps but negotiations are continuing. No deadline has been set for a deal to be completed. Talks were held late into Monday night over the deal, which would see Whyte take over an 85 per cent shareholding in the club. Whyte has demonstrated he has the necessary funds in place to conclude the deal, a source close to negotiations has confirmed to STV. His offer would see him buy the club at an asking price of Ã?£25 to Ã?£28 million. If and when a deal is reached, a statement to the Stock Exchange is required. If the deal is concluded, Whyte will inherit 99,801,034 shares in Rangers, giving him an 85 per cent shareholding. Whyte reached agreement with the Lloyds Banking Group last Wednesday over the repayment of the club’s Ã?£21 million bank debt. It is understood Ã?£17 million will be paid up front to Lloyds, with a Ã?£4 million loan on Ibrox’s Albion car park refinanced and paid back in instalments. A little more cautious from STV. 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted April 5, 2011 Share Posted April 5, 2011 Its good to see things in black and white for the first time too, that the bulk of the debt will be gone and that the deal includes Ibrox and Auchenhowie, should finally put pay to many of the rumours about just how tied-in to MIH we were. I'm sure some people will complain that 5M a season isn't much, but assuming it's spent wisely and we continue to give some young players a chance, there's every reason to be optimistic. 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted April 5, 2011 Share Posted April 5, 2011 Its good to see things in black and white for the first time too, that the bulk of the debt will be gone and that the deal includes Ibrox and Auchenhowie, should finally put pay to many of the rumours about just how tied-in to MIH we were. I'm sure some people will complain that 5M a season isn't much, but assuming it's spent wisely and we continue to give some young players a chance, there's every reason to be optimistic. I feel year one will require substantially more than �£5m but I am also certain Mr Whyte has been made aware of this. I assume AJ is on his way back already? 0 Quote Link to post Share on other sites More sharing options...
CumbernauldGers 0 Posted April 5, 2011 Share Posted April 5, 2011 Please let this be true. 0 Quote Link to post Share on other sites More sharing options...
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