Sky Sports News understands Lloyds have given Craig Whyte approval to proceed with his Rangers takeover.
Lloyds give White approval to proceed with takeover
Sky Sports News understands that Lloyds Banking Group have given Craig Whyte approval to proceed with his takeover of Rangers.
On Monday the bank denied it was seeking an 'exit fee' in order to permit the Scottish tycoon's takeover after it was thought a payment of more than £1million was proving a stumbling block.
Whyte is seeking to buy 75 per cent of Sir David Murray's shares in Rangers and both parties have been told by Lloyds that they are happy the proposed deal can go through.
Earlier this week Lloyds was informed by the Murray Group on behalf of Whyte that due diligence had been officially completed and that they were happy to continue with proceedings.
Whyte has held talks with Lloyds over the past few days and made two requests over the structure of the club's debt, which is on course to be £18million in June.
The banking group, which retains Rangers' debt, have delivered on those commitments, meaning the deal is one step closer to being finalised.
