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Property tycoon Andrew Ellis claims he expects to buy Rangers within three weeks
Ibrox takeover edging nearer...
| 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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14 Mar 2010 12:31:00
By Zack Wilson
Andrew Ellis expects to complete his takeover of Scottish Premier League giants Rangers within the next three weeks, according to a spokesman.
Ellis himself is reportedly now in an African holiday resort studying the club's accounts, but his £33 million buy-out could happen before the end of April.
Ellis's offshore firm RFC Holdings (Guernsey) are being represented by Channel Islands trust firm Marlborough, who are listed as the company's directors.
Marlborough business development expert David Gilmour, who is handling the deal, also confirmed that the London-based businessman is not a front man for a larger consortium.
"Andy [Andrew Ellis] is not going to comment because it is very likely he's going to take the club over in the next few weeks," Gilmour told The Sunday Mail.
"It is entirely likely that the deal will go through but it's still at an early stage.
"I know it's been said that Andy is a frontman for a consortium but I can tell you it's just him - he's the only bidder and there's nobody else behind the deal.
"It's going to be around two-and-a-half weeks before anything happens because we are going through the due diligence process at the moment.
"Andy is in Zanzibar at the moment and will not be making any comment because of Stock Exchange rules."
Meanwhile, Glasgow City Council have confirmed that Rangers are back in talks with them concerning the redevelopment of land around Ibrox, something which could be a major incentive for Ellis to take over the club.
"Glasgow City Council has recently been in talks with Rangers Football Club, and other interested parties, about future redevelopment plans for the area around Ibrox," said councillor George Ryan.
"The intention is to undertake a joint study to investigate a number of opportunities for the area.
"The option which is most economically viable and compliant with our planning policies will then be worked into a masterplan for the area and submitted for consent."
Rangers Supporters' Trust spokesman David Edgar welcomed the news that Ellis could be on the verge of buying the famous club, which currently sit 13-points cleat at the SPL's summit.
"The fans would welcome an end to the uncertainty over the future of the club," said Edgar.
"It would be a positive move as we would no longer be on the market and decisions can then be made to take the club forward.
"However, we need to know what Andrew Ellis' plans are, though we appreciate he has been hamstrung in that regard due to the legalities of the takeover."
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Ellis himself is reportedly now in an African holiday resort studying the club's accounts, but his £33 million buy-out could happen before the end of April.
Ellis's offshore firm RFC Holdings (Guernsey) are being represented by Channel Islands trust firm Marlborough, who are listed as the company's directors.
Marlborough business development expert David Gilmour, who is handling the deal, also confirmed that the London-based businessman is not a front man for a larger consortium.
"Andy [Andrew Ellis] is not going to comment because it is very likely he's going to take the club over in the next few weeks," Gilmour told The Sunday Mail.
"It is entirely likely that the deal will go through but it's still at an early stage.
"I know it's been said that Andy is a frontman for a consortium but I can tell you it's just him - he's the only bidder and there's nobody else behind the deal.
"It's going to be around two-and-a-half weeks before anything happens because we are going through the due diligence process at the moment.
"Andy is in Zanzibar at the moment and will not be making any comment because of Stock Exchange rules."
Meanwhile, Glasgow City Council have confirmed that Rangers are back in talks with them concerning the redevelopment of land around Ibrox, something which could be a major incentive for Ellis to take over the club.
"Glasgow City Council has recently been in talks with Rangers Football Club, and other interested parties, about future redevelopment plans for the area around Ibrox," said councillor George Ryan.
"The intention is to undertake a joint study to investigate a number of opportunities for the area.
"The option which is most economically viable and compliant with our planning policies will then be worked into a masterplan for the area and submitted for consent."
Rangers Supporters' Trust spokesman David Edgar welcomed the news that Ellis could be on the verge of buying the famous club, which currently sit 13-points cleat at the SPL's summit.
"The fans would welcome an end to the uncertainty over the future of the club," said Edgar.
"It would be a positive move as we would no longer be on the market and decisions can then be made to take the club forward.
"However, we need to know what Andrew Ellis' plans are, though we appreciate he has been hamstrung in that regard due to the legalities of the takeover."
Become a fan of Goal.com UK's Facebook fan page for all the latest news and insight into everything related to the beautiful game!
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