ian1964 10,409 Posted May 4, 2011 Share Posted May 4, 2011 RANGERS chairman Alistair Johnston has given the Craig Whyte deal his approval. It's understood Johnston - who has flown to China on personal business - will not block the �£35million sale going through. He has also agreed to resign his post once Whyte gets his hands on the Ibrox club. SunSport can reveal that there are just TWO board members holding up the sale. A source said: "This is a big step forward. The bank, Whyte and Murray are all happy. "There are just a couple of others but everyone is hopeful that this can be overcome. "Whyte simply wants to take control of the club with everyone on side - as does Sir David. "A new chapter for Rangers could and should now be on the horizon." Johnston's backing suggests agreement is now imminent. Read more: http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/3563766/Johnston-on-board.html#ixzz1LQjtazNy 0 Quote Link to post Share on other sites More sharing options...
metlika 0 Posted May 5, 2011 Share Posted May 5, 2011 I guess the 2 on board are P. Murray and Dave King? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,145 Posted May 5, 2011 Share Posted May 5, 2011 I guess the 2 on board are P. Murray and Dave King? Depends - they're not involved in the bid oversight committee so can't really hold it up. 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted May 5, 2011 Share Posted May 5, 2011 Is AJ doing the hokey cokey or something? I thought he gave his approval of it a while back. Then he didn't, then he did, then.... 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,145 Posted May 5, 2011 Share Posted May 5, 2011 David Currie of the BBC suggesting the deal will go through today. He's now away to wash and condition his perm. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,145 Posted May 5, 2011 Share Posted May 5, 2011 Darrell King also suggesting Whyte will meet with SDM today and deal may be pushed through. 0 Quote Link to post Share on other sites More sharing options...
Guest bigbob Posted May 5, 2011 Share Posted May 5, 2011 Cannot post link cause on phone! in the herald 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,145 Posted May 5, 2011 Share Posted May 5, 2011 Yip, mentioned in other thread - will move this... 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted May 5, 2011 Share Posted May 5, 2011 Cannot post link cause on phone! in the herald Link here and cut and paste below. CRAIG WHYTE will arrive in Edinburgh this morning with his legal team and financial advisors for a face to face meeting with Sir David Murray that he hopes will finally force his Ã?£52.5m takeover of Rangers over the finishing line. Herald Sport can reveal that the Motherwell-born venture capitalist, who has been pursuing a deal to become the new owner at Ibrox since November, is close to running out of patience as the independent sub committee of the Rangers board, put in place to assess and approve any take-over attempts, continues to stall over whether or not to give him their seal of approval, or force him to go ahead with a hostile buy-out without their backing. There were suggestions last night that the Rangers chairman, Alastair Johnston, has given his nod of approval and informed Whyte he will resign when the takeover goes through, although this has not been confirmed. There is no doubt, though, that dissenting voices remain on the committee made up of Johnston, John McClelland, John Greig, chief executive Martin Bain and financial director Donald McIntyre. They have concerns over Whyteââ?¬â?¢s long-term funding pledge for future transfers ââ?¬â??not over the Ã?£25m initial purchase which will mean that Lloyds Bank is paid off in full and Murray given around Ã?£6m for his shares ââ?¬â?? and the fact that the club could be left open to a heavy tax bill down the line should they lose the current case under way with Her Majesties Revenue and Customs who are pursuing back payments for the use of Employment Benefit Trusts. An alternative plan put forward by another board member, Paul Murray ââ?¬â?? it would lead to Ally McCoist, the manager in waiting, being given Ã?£20m for new players this summer from an underwritten share issue, but leave the bank debt in place with a pledge to refinance to another bank inside a year ââ?¬â?? still has support, especially as it would require either the Murray Group or Lloyds to take any hit on a possible tax liability, leaving Rangers in the clear to move on without the threat hanging over them. It is believed, though, that Whyte made it clear to Murray inside the past 24 hours that there was a real chance of him walking away from the table, should the protracted purchase of his majority shareholding continue for much longer. The outcome of the latest round of talks is that Whyte heads for the capital intent on completing the deal. Sources close to both camps said that an announcement could come later today or tomorrow, after the most crucial meetings yet reach a conclusion one way or the other. It is believed that Murray spent last night in talks with the members of the board who are against Whyteââ?¬â?¢s plan, in an effort to persuade them of its validity. That will continue today. The board cannot veto a sale but Murray knows that his legacy will be judged on whom he passes the club on to, and is determined to talk the dissenters round. Should the final components of the sale fall into place, Rangers will be closer than ever to a new owner; if not, and the deal continues to stall, Whyte is almost certain to walk away in the next few days. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,409 Posted May 5, 2011 Author Share Posted May 5, 2011 May 5 2011 James Traynor CRAIG WHYTE will today jet in to finally seal his �£25million Rangers takeover. The Motherwell-born businessman is hoping to end six months of long, drawn-out negotiations when he and his legal team complete the fine details. He will hold a meeting with current owner Sir David Murray in the capital and it's believed the deal will be sewn up by close of play on Friday at the latest. Whyte's fight to assume power has featured a barrage of bitter finger-pointing and counter accusations. He even had to contend with a late rival bid from Ibrox director Paul Murray. But finally Whyte is on the verge of victory after convincing main critic Alastair Johnston that he has the money to give Ally McCoist funds to strengthen his squad for next season. Although there are still two members of that independent Rangers board to ratify the bid it's believed Whyte has done enough to push through his deal and silence his detractors - especially chairman Johnston, who gave it his seal of approval before flying to China on business. Lloyds Banking Group had already accepted Whyte as the preferred option but there were still sticking points. Those have now all but been fixed. The news will be greeted with relief and delight by McCoist who hasn't been able to properly plan for his first season as boss, and the fans who at times feared for their club's short-term future. http://www.dailyrecord.co.uk/football/spl/2011/05/05/craig-whyte-jetting-in-to-seal-rangers-takeover-after-alastair-johnston-approves-move-86908-23108372/ 0 Quote Link to post Share on other sites More sharing options...
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