Ellis close to Rangers deal 10/06/2010 |
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A consortium led by Andrew Ellis looks set to complete a deal to purchase a controlling interest in Scottish champions Glasgow Rangers.
Ellis, who first registered his interest in the club back in March, informed the stock exchange that his company, RFC Holdings, was in “advanced negotiations” with the club.
The consortium is reportedly prepared to offer £33 million for the Ibrox outfit, who are around £30 million in debt and are currently facing an investigation from HM Revenue and Customs after allegedly failing to pay a £24 million tax bill.
A statement on the Stock Exchange read: "The company confirms that it is in advanced negotiations with Sir David Murray to acquire a controlling interest in Rangers Football Club plc.
"However, no price has been agreed and no timing has been established for the conclusion of the talks.
"If a deal is concluded between Sir David Murray and RFC, the company would be required under Rule 9 of the City Code on Takeovers and Mergers immediately to make an offer for the remaining issued share capital of Rangers.
"It is emphasised that this announcement does not amount to a firm intention to make an offer and there is no certainty that any offer will be forthcoming, or as to the terms of such an offer."
Sir David Murray, who relinquished his chairmanship and place on the board in August, controls about 90% of the shares in Rangers
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