Craig Whyte- I should have put Rangers into administration on day one

Craig Whyte has revealed that he should have put Rangers into administration in May 2011- straight after he handed a pound coin to Dave Murray.

The former billionaire saw the asking price for the club crash from £30m to £1 over seven months with few businesses that change hands for a coin likely to survive.

Stopping Celtic and denying Neil Lennon success was the overwhelming emotion at Ibrox with Whyte brought in to front load investment and match the ill-gotten successes of Murray.

With Celtic’s larger support and greater commercial success anyone involved at Ibrox is up against it with the new man in charge at Ibrox expected to make up the deficit while the shadow of a massive tax bill hung over Ibrox.

Inheriting those expectations/demands and Ally McCoist as manager proved too much for Whyte to overcome with administration forced on him in February 21012.

The Herald reports:

Q: You say in your book that you have sympathy with Rangers fans. But you don’t say you’re sorry. Do you not feel you need to apologise?

A: Anyone with a basic understanding of what happened knows that I didn’t cause this 140-year-old club to go out of business. That would almost have been impossible in nine months. How could something that was sold for £1 be a great business?

If I could turn the clock back and do it a different way and put it into administration when I first took over . . .
I regret the outcome. Some of my decisions could have been better at the time. I have no problem apologising for that. But I think it’s clear where the blame lies for what happened to Rangers.

I don’t have an issue for apologising for any mistakes I made with what happened to Rangers. Of course, I made mistakes. But it is not my fault what happened to Rangers.

Whyte’s book, Into The Bear Pit, is the top seller on Amazon