Is this it........ Finally?

EDGE · May 6, 2011

The Red-tops say that Rangers have been sold.

More to follow

RinoGattuso · May 6, 2011

SIR DAVID MURRAY'S 23-year tenure at Rangers will end this morning when Craig Whyte is confirmed as the new owner of the SPL champs.
And manager-in-waiting Ally McCoist will immediately be handed a bumper ÃÂ£10million summer transfer kitty.

Tycoon Whyte agreed a ÃÂ£33m deal with Murray yesterday to end a six-month takeover saga.

On top of the ÃÂ£10m he's pledged to give McCoist this summer, he has also guaranteed him at least ÃÂ£5m a season for the next four years.

It means the new boss can bring in fresh talent and step into contract talks with current stars like Allan McGregor and Steven Davis.

Whyte's takeover will see steel tycoon Murray recoup over ÃÂ£3m and settle debts of almost ÃÂ£20m with the Lloyds Banking Group.

Sir David's colourful spell at the helm - which saw Gers land 36 trophies - looks certain to be brought to a close today.

He agreed the sale after a fresh round of talks with Motherwell-born Whyte in Edinburgh.

A specialist team of more than a dozen lawyers worked late into the night in a bid to complete the deal.

It's now expected a new era will commence with an announcement to the London markets this morning.

Whyte's much-needed cash injection will haul Gers away from the threat of financial meltdown.

Gers chairman Alastair Johnston, who cast doubt over Whyte's plans last month, yesterday confirmed the five-man independent panel on the Ibrox board were now satisfied with his big-money scheme.

The US-based chairman will resign his post on May 16 with Whyte expected to make more boardroom changes.

It's the alterations ON the park which will excite Gers supporters even more - with McCoist already eyeing targets at home and abroad as he prepares to succeed Walter Smith.

Gers now stand just three wins from Three in a Row title joy after Celtic's shock 3-2 loss at Inverness on Wednesday night.

That would hand them a ticket to the Champions League qualifiers and open up the prospect of another huge cash boost.

It would represent a dramatic financial turn-around just weeks after Johnston claimed the club could plunge into an abyss.

Sir David, who bought Gers for ÃÂ£6m in 1988, has been trying to sell his controlling stake for five years. He held talks with property tycoon Andrew Ellis last year and was also approached by Gers non-executive director Paul Murray.

Whyte has emerged as the only credible suitor after providing proof of funds and convincing Sir David, Lloyds and the board that he can take the club forward.
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The Scottish Sun

Hopefully thats it definately done.

Otto Flayshow · May 6, 2011

According to the BBC there were still some technical hitches late last night. To be continued this morning...

EDGE · May 6, 2011

CRAIG WHYTE'S ÃÂ£50million buyout of Rangers is expected to be signed and sealed today.
Legal teams talked late into last night and will meet again this morning.

They hope to thrash out the final details and announce a deal to the Stock Exchange before close of business.

Whyte will then head to Ibrox to meet manager-in-waiting Ally McCoist.

The millionaire doesn't want to deflect the management team's attention from winning the SPL title but is desperate to agree a transfer budget with McCoist.

He has made it clear he is willing to hand over ÃÂ£10m but will increase that if Walter Smith's successor convinces him more is needed.

Whyte also wants to get his sleeves rolled up and get down to the work of running Rangers.

He wants to form a new board as quickly as possible to convince fans, who might have been swithering about renewing season tickets, that the years of turmoil are over.

A deal will bring to an end David Murray's 23-year Ibrox reign.

Murray, who bought the club for ÃÂ£6m in 1998, won't take a penny and is happy to leave with nothing knowing Rangers are now debt free.

Of course the potential tax liability, should Rangers lose their case with HMRC, still hangs over Ibrox but Whyte and his people are satisfied they can cope.

The 40-year-old's bid to take over from Murray started last November and has been anything but smooth.

The independent board set up by Rangers to examine Whyte's takeover proposal were never fully convinced of his credentials - or motives.

This board, including club chairman Alastair Johnston, delayed the deal hoping Paul Murray, a non-executive director, could mount a late challenge but his move came too late and both Murray and the club's bankers, Lloyds, who will get ÃÂ£18m, hope to close the deal today.

And last night Johnston conceded he was preparing to step aside and welcome the new owner to Ibrox.

He said: "A great deal of work has been done by the board and I'm proud of that.

"I'm confident the efforts of the board have improved the deal significantly for the benefit of the club.

"Our views will come out in the future and I'm comfortable with that but I don't want to stand in the way of progress.

"I will resign as intended on May 16 but will be working hard until then to make sure Rangers secure the SPL title.

"After that I will go back to being the club's No.1 fan."

Whyte's interest in buying Murray's 85.3 per cent majority shareholding was sparked last October after an approach from business contacts.

A month later he made a formal announcement to the Stock Exchange that he was in discussions with Murray International Holdings about the possibility of submitting an offer.

A lengthy period of due diligence and negotiation followed which culminated in an offer being made and accepted.

But Johnston and many others thought Whyte would tire of the chase and move on if they refused to throw down the welcome mat.

Whyte refused to go away and is now about to become owner of one of the biggest clubs in Europe, even if it has been in slow decline.

A Rangers fan since he was a teenager, Motherwell-born Whyte developed his flair for business while studying at Kelvinside Academy, Glasgow, and although he is now based primarily in London, he has a home in the Highland town of Grantown-on-Spey where his children go to school.

He also has a home in Monaco but paid around ÃÂ£750,000 for 65-roomed Castle Grant, which was mostly in ruin, and has spent almost ÃÂ£6m restoring it.

Clearly, Whyte's biggest restoration job is about to begin with Rangers.

His own career has been built on skills as a turnaround specialist, financing and managing businesses with cashflow difficulties.

Whyte is founder and chief executive of Liberty Capital which has investments across several sectors including marketing, communications, ticketing and commodities trading, with operations in the UK, Holland, Switzerland, Russia and France.

He also holds interests and directorships in a large number of firms specialising in areas such as finance, corporate recovery and investment, and stockbroking.

His interest in Rangers combines his passion for the club and its success on the domestic and European stages with a commitment to turn the business into a sound and profitable commercial enterprise.
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Daily Record

Girvan Loyal 1690 · May 6, 2011

It's been a done deal for about 6 months ffs

EDGE · May 6, 2011

**** off Scouse

Girvan Loyal 1690 · May 6, 2011

http://www.rangers.co.uk/articles/20110505/support-white-walter-rafters_2254024_2351703

watch his ticker ffs!

EDGE · May 6, 2011

Anyone up for a 606 WUM.

WHYTE BUYS RANGERS!!!

GIRFUY TIMBO!!

http://www.londonstockexchange.com/statistics/companies-and-issuers/rangersltd-craig-whyte.htm

Girvan Loyal 1690 · May 6, 2011

link fail

EDGE · May 6, 2011

It worked a minute ago,

Anyway, you up for it? 12 o'clock today again?

Girvan Loyal 1690 · May 6, 2011

yeah why not. you set it up and I'll just copy and paste

Otto Flayshow · May 6, 2011

Our favourite hack on Twitter:

please log in to view this image

EDGE · May 6, 2011

I'd love it more if the Rangers fans would stop giving the prick amo to throw at us.

That's me back on FF Girvan

Wonder how long my moderate anti-MOPERY views will be allowed to be aired before some **** accuses me of being a Tim

Girvan Loyal 1690 · May 6, 2011

Girvan Loyal ÃÂ© said: ↑

Get to **** Spiers.

Hopefully, Craig's first task at the press conference will be to stand up, point at Spiers, then point at the door.
No words, no other gestures, just pointing.

Then two Rock steady gorillas come in and stand behind Spiers as he gathers his belongings and shuffles out of the door.
Click to expand...

trevor santos likes this

EDGE · May 6, 2011

WHYTE DEAL COLLAPSES

This is an utter joke!

How can this happen, we've been told for weeks that the deal was all but done.

The Celtic fans will be loving this!!

<smiley type = "grr"/>

<p><LINK HREF="http://i54.tinypic.com/2m7z1w1.gif" UINDEX="0">http://www.rangers.co.uk/articles/20110419/whyte_walks_away_2254024_2341099</LINK></p>

Magic Laudrup 11 · May 6, 2011

I'm trying to get an account out of pre-mod for this

EDGE · May 6, 2011

post on multiple boards with nice warm comments and smileys.

Steer clear of the footbal boards to speed up the process.

EDGE · May 6, 2011

What stage are we at?

Magic Laudrup 11 · May 6, 2011

Been posting on Rangers, tennis, boxing and golf Still not out pre-mod, ****ing 3 minute rule

EDGE · May 6, 2011

Hurry up you ****, I'm eager beaver here

Is this it........ Finally?

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