Whyte: Rangers' debt has reduced since my takeover

The entrepreneur claims to have decreased his club's financial woes since taking over the reins 11 months ago, despite the club recently plummeting into administration

Rangers owner Craig Whyte has claimed that, despite the club owing over £134 million in debts, the club has less liabilities now than when he took over last May.

The Scottish businessman bought Sir David Murray’s 85 per cent majority stake in the club for £1 at the end of last season.

Rangers’ debts at the time of Whyte’s takeover amounted to £18m but have since grown to an estimated £134m.

The club also owe trade and football creditors more than £6.5m, according to the administrators' interim report.

Whyte told Clyde 1 Sport: "The accounts prove that. It's factual, anyone can look at the figures.” he said. “The liabilities have actually reduced, not increased as the media have been implying."

“I'm not sure why the figures surprised anyone and actually, since I've been involved, Rangers' total liabilities have been reduced by between £10-14million.

Whyte, who claims to have £30m that he will, in time, pump into the club, spoke of how HMRC are to blame for the club’s recent administration woes.

"They refused to discuss the case ahead of the tribunal so it was impossible to have a sensible discussion with them," Whyte stated.

"I offered to pay them in full the current liabilities by the end of August this year and I offered to pay £2.5 million a year towards the big tax case whether that be for 10 years, five years or whatever."