The former owner of Rangers who sold the club to Craig Whyte is seeking "clarification" over Ibrox finances. Sir David Murray sold the Glasgow club to the businessman for a nominal £1 last May with Rangers owing Lloyds Banking Group £18m at the time. He is asking questions over financial arrangements put in place since the takeover. Mr Whyte recently confirmed a deal he struck at Ibrox with London firm Ticketus, which has seen future season ticket sales used to secure a loan of around £20m to help run the club. please log in to view this image The Murray Group also said in a statement that it did not owe any debt to Ticketus when the takeover took place. Mr Whyte has claimed the ticket scheme had previous been used during Sir Davidâs 22-year reign at Ibrox. This is despite Mr Whyte being quoted in a recent Sunday newspaper interview as saying "several million" had to be repaid "from an old ticket arrangement from the previous board" when he bought Rangers. A spokesman for Murray Group said: "Following recent press allegations we have also sought clarification of the financing and security arrangements which the purchaser appears to have put in place. "We can confirm that, at the time of the takeover, there was no debt owed by the club to Ticketus." On Thursday, former Rangers chairman Alastair Johnston told the BBC he requested the governmentâs Insolvency Service to investigate "certain financial arrangements" surrounding Mr Whyteâs takeover of the club. He told BBC Sport: "I have had numerous approaches following the recent revelations in the press about the acquisition of Rangers Football Club and the use of future season ticket money. "I believe this is a prevalent view amongst Rangers' stakeholders who are now demanding full transparency about the funding of the acquisition of the club, its current financial status, and most importantly, the way forward. "Therefore, in my capacity as the chairman of the club during the period when it has been alleged that certain financial arrangements of concern were executed by the buyer, I have formally requested that the Intelligence & Enforcement Directorate investigate and clarify this matter once and for all which is surely in the interests of all concerned." The Insolvency Service said it could not confirm or deny whether it had received a request from Mr Johnston and if an investigation into the takeover is being carried out. A spokeswoman for the service said: "The Insolvency Service cannot confirm or deny details of any cases it may be investigating as this is confidential information. "The Insolvency Service has discretionary powers under the Companies Act to investigate live companies where it appears that there has been misconduct in relation to the companies' affairs." Mr Whyte was not available for comment, but his spokesman said: "The chairman and the current board of Rangers football club have nothing to fear from any invesvtation by any agency and deplores the continuially misguided criticism by former board members."
Shouldn't old minty have checked him out before he sold him the club? Didnt he say the sale wasn't about the money but about identifying the best buyer to secure rangers future??
I seem to recall he took quite a while to decide and rejected objections raised about shifty by several members of the old board.
Exactly Dev... If you cant post on the the team board you follow about your biggets rivals - where else can you do it!
Is it not called Due diligence... So, if you can't find appropriate answers, you dont enter into the deal!
Just imagine, they will have to come over here to argue with me because Nev went running to Syd. Blame Nev folks
I have to say this whole takeover thing is starting to smell fishy to me. I haven`t a clue whats going on but Moonbeams interjection now, seems suspicious, to say the least.
Im pretty sure whyte has a plan and endgame in mind ; I suspect he is going to sell rangers back to murray for a fiver, making a clear four quid profit.
The whole business is certainly beginning to stink and one wonders just why Murray chose to sell to Whyte in the first place.
to be a bit more serious...I think murray was just sick of the whole thing, he hadnt had the kind of success he needed to feed his massive spend a tenner to their fiver ego....there was no prospect of that changing, his other interests which he had used to finance rangers and his ego were going down the tubes, he was finally copping some long overdue criticism, the succulent lamb,smoke and mirrors werent working any longer ...and he saw an opportunity to offload the whole pile of **** on a convenient fall guy - whyte ( who has his own agenda which will , no doubt , be of benefit to whyte. rangers on -field fortunes are in reality a side issue for him ...and that agenda very much relies on blaming previous owners for the perilous state of the club ) However, whyte keeps on making derogatory statements about the state of the club and the finances which he inherited from the old regime. Murrays ego cant possibly cope with that, his legacy, as he sees it must be getting tarnished. That kind of thing will keep a man of moonbeams arrogance awake, night after night, seething. I fully expect a massive hun bun fight between the two.
Greetin' faced ****s I told dev not 2 days ago if i was mod I'd never ban any of you, its sad merging your posts into one however, piece of brilliance (what little there is) on my behalf Celtic since 1888.
And the winner of the 2012 First Annual "BH Award for drunken Hun ranting at 4am on the Celtic board" goes to..... .... .... .... MongoloidDescendent 100-80/100-80
I'll rephrase my original question. Whose team board are you posting on at 4am? Now that is "obsession". Good day, call again.
