Andrew Ellis says No Thanks to Rangers deal

No deal

Despite months of speculation Andrew Ellis has walked away from bidding for Rangers.

After three months of due diligence the mysterious London-based property developer has failed to put in a bid to buy out Sir David Murray’s shareholding in the club.

Recent reports of Middle-East backers have proved unfounded with Rangers announcing that the club is no longer up for sale.

A statement tonight from The Murray Group (MIH) said: “MIH has received interest in its controlling stake from a number of parties. At this time, however, the board of MIH has not been able to secure an offer which it considers to be in the best interests of the Club, its shareholders and its fans.”

The failure to sell the club would suggest that finances will continue to be tightly controlled with Walter Smith unable to pay a transfer fee since August 2008.

Smith and his backroom staff have recently signed new one year contracts but recent activity has all been one way with Nacho Novo, Steven Smith and DaMarcus Beasley all leaving Ibrox with top scorer Kris Boyd expecting to move on when his contract expires at the end of the month.