Scottish entrepreneur Craig Whyte has confirmed he is considering making on offer for Rangers.
Billionaire opens takeover talks with Old Firm giants
Scottish entrepreneur Craig Whyte has confirmed he is considering making on offer for Rangers.
The 39-year-old businessman is in talks with Murray International Holdings regarding a proposed takeover.
Current chairman Sir David Murray has admitted on numerous occasions that he would be willing to part with the club were the right offer to come along.
With Rangers experiencing financial difficulties, he appreciates that a fresh injection of cash is required in order to take the club forward.
Whyte could be the man to provide that backing, with the Glaswegian tycoon admitting that talks are under way.
Intention
He has, however, pointed out that discussions are at an early stage and no formal offer for the Scottish champions has been made as yet.
A statement from Whyte's solicitor released to the Stock Exchange on Thursday read: "Craig Whyte notes the articles in today's press regarding discussions between him and Murray International Holdings Limited ("MIH") with a view to him acquiring MIH's majority shareholding in Rangers Football Club Plc ("RFC").
"Mr Whyte confirms that he is considering making an offer for RFC and is in talks with MIH but that these are at an early stage and there can be no certainty that an offer will ultimately be made.
"Mr Whyte has not yet approached the board of RFC. A further statement will be made in due course.
"This is an announcement falling under Rule 2.4 of the City Code on Takeovers and Mergers (the "Code") and does not constitute an announcement of a firm intention to make an offer. Accordingly, there can be no certainty that a formal offer for Rangers Football Club Plc will be made."
Advised
A statement from Rangers read: "The board notes the announcement released this morning on behalf of Craig Whyte.
"The board confirms that it has been advised by Murray International Holdings Limited that it is in early discussions with Craig Whyte regarding the acquisition of MIH's majority shareholding in Rangers Football Club plc.
"The board will keep all shareholders informed of further developments."
