8 Mar 2010Takeover talks underway at Rangers

Football Clubs News | Football Finance News

Rangers' majority shareholder Sir David Murray has entered talks over a potential takeover at Ibrox, according to a statement from the club.

The Scottish Premier League champions confirmed that London-based property developer Andrew Ellis is one of several "interested parties" involved in the negotiations.

An independent committee of Rangers board members has been set up to consider any offers for the Glasgow outfit, who currently have debts of approximately £31 million.

"The independent directors will ensure that any possible offer for Rangers is assessed on the merits for Rangers, its shareholders and all other stakeholders in Rangers, including supporters," the statement explained.

Ellis is a former director at Queens Park Rangers and led a consortium that took over Northampton Town in 2002, although he left the club shortly after the deal was completed.

Murray controls about 90 per cent of the shares in Rangers, but relinquished his chairmanship and place on the board in August last year.

Written by Paul Roberts

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