Whyte’s latest bombshell deepens crisis over Ibrox

Craig Whyte has dropped another bombshell on the Ibrox crisis with recorded evidence that explains how Duff & Phelps were aware that his deal to buy Rangers was funded by Ticketus.

David Murray received £1 from Whyte but the deal only went through after Lloyds TSB had the clubs £18m overdraft paid off.

Whyte raised the money to pay off the bank by getting an advance from Ticketus who had the security of being guaranteed future season ticket money.

Duff & Phelps have taken legal action on that transaction but according to a tape obtained by the BBC the Ibrox administrators were well aware that Whyte’s deal had involved Ticketus providing the funds to pay off Lloyds TSB.

The tape obtained by the BBC has been verified as the voice of David Grier, a partner in Duff & Phelps, who was aware of how Whyte had used Ticketus to fund the deal to take over Rangers.

While Whyte was painted as the fall guy in the administration and liquidation of the club it seems that the former billionaire isn’t prepared to accept that the downfall of Rangers was solely down to his involvement.

Whyte’s return to the spotlight couldn’t be timed worse for Charles Green who is attempting to raise £20m through a share issue.

With a number of legal actions on-going the chances of the Alternative Investment Market approving the share issue are receding with Green denying the claim that it was Whyte that introduced him to Duff & Phelps.

Responding to the latest revelations Duff and Phelps spokesman Marty Dauer told the BBC: “As we have previously stated, Duff and Phelps maintains that our conduct of the Rangers administration was carried out to the highest professional standards.

“We do not respond to information that is taken out of context, as we believe is the case in the BBC story.

“We welcome the opportunity to review a complete copy of the information that the BBC references in its story.”