Tycoons' Bidding War For Rangers

RANGERS were at the centre of a dramatic bidding war last night with TWO offers on the table for the debt-ridden club.

A group of London-based tycoons are putting together a bid but face a rival Far East consortium in the battle - with the deal expected to top £60MILLION.

Ex-chairman Sir David Murray - who owns a 92 per cent stakeholding - has consistently said he will only sell to people he believes can take Rangers forward.

Last night a source admitted: "Rangers is definitely on the table and the big-money men are beginning to circle."

The London group of property high-flyers, backed by a Guernsey-based finance house, have already held talks with bankers Lloyds about taking on the club's £30million debt.

And they have tabled an offer to take over the Ibrox club to the bank's representative on the board, Donald Muir

If it's accepted they will then make a bid for Sir David's stakeholding.

Last night the source told The Scottish Sun: "Whoever wants Gers had better realise it's going to cost them £60million.

"It remains to be seen if either of these bids will be successful."

Both the London group and the Far Eastern consortium have said they will clear the club's debt.

This effectively blows an £18million bid by Rangers director Dave King and Scots motor tycoon Douglas Park out the water.

South Africa-based businessman King and Park offered to clear just 60p in each pound of the club's debts four months ago, but their scheme never got off the ground.

Sir David stepped down as chairman last August.

It remains to be seen if this offer will meet with his approval. Sir David bought the club, managed by Walter Smith, for £6million in 1988.

 

lads Rangers virtually confirming above story http://www.rangers.co.uk/articles/20100306/club-statement_2254024_1985853

 

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