Date: 29th March 2012 at 8:09am
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Frustrated Blue Knights leader Paul Murray has revealed that he may have to pull out of his bid to save Rangers.

Despite claims from administrators Duff and Phelps that Craig Whyte is an irrelevance the man that put Rangers into administration remains in control of 85% of the clubs’ shareholding.

Whyte is showing no sings of giving up his stake in the club forcing Murray to consider the prospect of pulling out of his bid to save the club.

“There have been conflicting reports in recent days about the validity of Whyte’s position,” former Rangers director Murray told the Daily Record.

“I’ve spoken to the administrators about this today and been told by them that Whyte is not prepared under any circumstances to sell his shares to my consortium.

“The administrators have told me they are prepared to take legal action to deal with this issue.

“While I was pleased to hear them say that, as things stand the Blue Knights cannot be successful. I have little choice but to consider our position.

“What is the point in us presenting a bid we know will not be accepted?

“Unless I can legally obtain Whyte’s shares I cannot enter into discussions about how best for the club to exit administration through a CVA (Company Voluntary Arrangement).

“This is fundamental to our plans to stop the club going into liquidation. While I am hugely disappointed in Whyte’s actions I can’t say I’m surprised.”

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