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Group considering Rangers takeover to decide in two weeks - report
11 Mar 2010 17:47:00
The group mulling over a bid for Rangers will decide in around two weeks time whether to make an offer, according to BBC Sport.
RFC Holdings (Guernsey), fronted by Andrew Ellis, are entering a period of due diligence, during which they will examine the club's finances in detail for a possible takeover.
The Scottish champions are £31 million in debt and have been under pressure from Lloyds Banking Group to cut costs.
News broke last weekend that former QPR director Ellis was preparing to make a bid.
BBC Scotland learned that two other parties were also considering bids to take over the Ibrox club but Ellis is thought to be the front-runner.
A group of Rangers directors will consider the implications of any offer, with the independent committee comprises chairman Alastair Johnston, John McClelland, Martin Bain, Donald McIntyre and former Ibrox captain John Greig.
Sir David Murray, who relinquished his chairmanship and place on the board in August, controls about 90 per cent of the shares in the Scottish Premier League leaders.
Rangers have previously confirmed that principal shareholder Murray International Holdings has opened discussions about a possible takeover of the club.
On the field Rangers are well on course for their second successive Scottish Premier League title as they are currently 13 points ahead of second-placed Celtic.
RFC Holdings (Guernsey), fronted by Andrew Ellis, are entering a period of due diligence, during which they will examine the club's finances in detail for a possible takeover.
| Bet: | Returns: | Rangers £15.00 | Draw £35.00 | Motherwell £60.00 |
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| Bet: | Returns: | Rangers £15.71 | Draw £35.00 | Motherwell £70.00 |
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| Bet: | Returns: | Rangers £14.00 | Draw £43.30 | Motherwell £85.00 |
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The Scottish champions are £31 million in debt and have been under pressure from Lloyds Banking Group to cut costs.
News broke last weekend that former QPR director Ellis was preparing to make a bid.
BBC Scotland learned that two other parties were also considering bids to take over the Ibrox club but Ellis is thought to be the front-runner.
A group of Rangers directors will consider the implications of any offer, with the independent committee comprises chairman Alastair Johnston, John McClelland, Martin Bain, Donald McIntyre and former Ibrox captain John Greig.
Sir David Murray, who relinquished his chairmanship and place on the board in August, controls about 90 per cent of the shares in the Scottish Premier League leaders.
Rangers have previously confirmed that principal shareholder Murray International Holdings has opened discussions about a possible takeover of the club.
On the field Rangers are well on course for their second successive Scottish Premier League title as they are currently 13 points ahead of second-placed Celtic.
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