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Craig Whyte splashes out £1 asking price for Rangers

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Pound Coin Rangers newsAfter another week of frenzied speculation and wishful thinking the reclusive Craig Whyte appears to have finally closed in on buying Rangers for £1!

Constant 48 hour deadlines and d-days have come and gone over the last few months but Whyte appears now to be pushing his bid through despite the hostility of the Takeover Panel on the Rangers board.

After two days of talks in Edinburgh between Sir David Murray and Whyte an agreement has been reached between the two main players with Murray receiving a token £1 for his shareholding in the club.

Tonight a company called Wavetower Limited announced that they had bought 92,842,388 ordinary shares worth 85.3% of Rangers for £1 from Murray Holdings Limited.

At the peak of his powers Murray had goaded the Celtic board that for every fiver they spent on the team he’d spent a tenner.

The result of that doomed policy has came home to roost with the Rangers chief selling up for £1.

News throughout the last few days of technical difficulties is hardly a surprise with the ownership of Rangers extremely complex.

While Murray is credited with ownership South African based Dave King is believed to have a 25% holding in Murray Sports that can veto any deal.

Lloyds TSB have a 25% stake in Murray International Holdings as their own security on the overall debts of the group.

Whether the £100m rated properties of Ibrox Park and Murray Park are included in the deal is unclear with Whyte refusing to utter a word in public about his aims or plans for Rangers.

As the secretive business edges towards a conclusion Celtic supporters can only be grateful that their own club’s takeover was conducted in an open if dramatic manner back in 1994.

And when Fergus McCann sold off his 51% shareholding in the club he banked £40m or 40,000,000 times more than the selling price of the man who promised to always outspend him!

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0 comments

  • don revie says:

    just been announced on clyde that a deal has been done and papers have been signed at 5.30 . i take it that they did,nt bother to tell the stock exchange before it shut for the weekend . wonder if the “deal” hits a snag over the weekend .if craig shyte has done any sort of deal he must be mad !!! or just yer average blue nose . i smell shyte here . they are havin a laugh at the expense of their loyal fannies.

  • hot_rod says:

    This article is stupid. Why focus on Rangers possible sale (or fakeover) & praising fergus mcann for making a profit. This is stupid!!! Rangers under Lloyds control & selling SPL top scorer Miller in january, look as though will be 3 in a row. You sound like John Reid, waving balance sheets & meanwhile we are winning fuck all. no trophy since ’09

  • Martin Gallagher says:

    New shirts sponsors for the Orcs will be “Poundland”

  • Derek says:

    Don, I don’t mean to be a “know it all kn*b” but all the parities involved are limited companies so therefore are not on the stock exchange.

    Will be interesting to see how Lloyds react to this, they could easily file for bankruptcy before the transfer of the club is completed, and the appointed liquidator could seize any assets. Surely Davie Weir must be worth at least fifty quid or so.

  • bluenose86 says:

    haha we got more dough than u!!

    • rfc+sfa=cheats says:

      ha ha ha! do you actually believe that!? write to the current ragers board and ask them, they dont seem to think whyte has proved he has the money and they have spent a year going over his finances, but obviously you know better right? you should invest some of your giro in ragers, when they start building that £750 million 90,000 seater stadium you were promised and sign cesc fabregas you will have hit the jackpot.
      LENNON TO THE CORE.

  • Joe McHugh says:

    This is getting very interesting.

    On the official Rangers website the Takeover Panel have slaughtered this deal which effectively makes all existing shares in Rangers worthless.

    The Takeover Panel don’t believe that the deal is in Rangers best interests.

    Murray has since issued a statement explaining what a great deal it is for everyone.

    It’s fair to say that it’s all out warfare in the Blue Room.

  • joecool says:

    murray park isnt owned by rangers,its owned by another part of mim,so i cant see it being part of the deal and £1 ,poor guys getting ripped off lol-the seasons not over yet,and while its a long shot we can still do it-CMON CELTIC

  • Wb says:

    Did Murray wait for his change, or did it go in the charity box??????

  • marcella says:

    Went into Poundland in Motherwell today and bought 3 packets of noodles for a pound…what a bargain I thought, then I heard a man from Motherwell bought a football club for a pound….I felt hard done by, gutted to be honest, just found out I never paid tax on my noodles and the Tax Man is after me, wish I’d bought the football club instead…fancy some noodles Mr Whyte?

    • rfc+sfa=cheats says:

      hope you wasn’t wearing a celtic top when you entered the shop, the locals would have gathered their pitch forks and burning torches and chased you mob handed all the way back to your “lair”.

  • çêltíç1888 says:

    Whyte looks like Fred West.

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