Whyte does not want liquidation

Gers owner ready to walk away with nothing

Last Updated: 03/04/12 8:19am

  • Share:
Craig Whyte: Insists he does not want to see the club go into liquidation

Craig Whyte: Insists he does not want to see the club go into liquidation

Sky Bet

Rangers owner Craig Whyte insists he does not want to see the club go into liquidation.

Fears have been growing that the Glasgow giants could go out of business after being forced into administration in February.

Rangers' administrators Duff and Phelps set a deadline of 4th April for best and final offers from the Blue Knights, a US group fronted by Club 9 Sports and a consortium from the Far East.

Rangers director Dave King and the administrators have both admitted liquidation is a possibility at Ibrox, but Whyte disagrees with the assertion that it is likely.

"I do not favour liquidation at all, it is not necessary," Whyte said.

"I want to exit administration with a CVA (company voluntary arrangement). There is no reason whatsoever that that can't happen.

"Liquidation is no good for Rangers. It will end 140 years of history.

"I can understand why some people might think it is a good idea but we have to keep Rangers alive."

Disagree

Whyte also rejected the notion from Duff and Phelps that he is irrelevant in the process of the takeover of the club and the businessman admits he is ready to walk away with nothing.

"They can describe me this way if they like, but I would disagree with it," added Whyte. "I am still the owner.

"But I am willing to walk away if it is for the good of the club. I wouldn't make anything out of it.

"I have £30million in cash and guarantees on the line but I would walk away if it is best for Rangers.

"Liquidation is no good for Rangers. It will end 140 years of history."
Craig Whyte Quotes of the week

Whyte also revealed he has spoken to several of the parties interested in buying the club, including members of the Blue Knights.

"I have been in touch with a couple of bidders. If I can help any of them I will," continued Whyte.

Whyte is sceptical over former Rangers director Paul Murray's ability to help the club but he is happy to co-operate over the Blue Knights consortium's bid.

"We have never seen eye to eye," Whyte said.

"I haven't spoken to him since last May. He is one of the old board. I don't see what he brings to the party.

"But there are some good guys in the Blue Knights and I've spoken to a couple of them, and I have no problem with them."

  • Share:

Related

Rangers administration

McCoist's dream job

Rangers manager Ally McCoist talks financial woes and pranks with Gazza on Goals on Sunday.

McCoist: the Rangers boss' salary has been made public

Tighten up

Rangers are improving on the field, says Andy Walker, but are being dragged down by issues off it.

Rangers timeline

Sky Sports looks back at the events since SPL giants Rangers were placed in administration.

Most Popular

Features

Blues' opening day XI?

Blues' opening day XI?

Chelsea begin their Premier League title defence against Swansea City, but how will they line up at Stamford Bridge?

'You can't win with kids'

'You can't win with kids'

Twenty years on from Alan Hansen's infamous line, the stats show you really can't win the Premier League with kids...

Olympics health fears

Olympics health fears

With the Rio Olympics just over a year away, officials have admitted they are unable to meet their clean-up targets.