31 Mar 2010Scottish tycoon 'not interested' in Rangers takeover

Football Clubs News | Football Finance News

Businessman Jim McColl, believed to be worth around £800 million, has said he has "no interest" in underwriting a supporters' takeover bid for Rangers.

McColl, chairman of business development firm Clyde Blowers, confirmed he had been in discussions with the Rangers' Supporters Trust behind the initiative but said he would not be providing financial backing for any offer.

Speaking to BBC Radio Scotland, he said both Glasgow sides were "an important part of the community" but added: "I have no interest in buying Rangers or having financial involvement in Rangers."

Rangers manager Walter Smith said earlier this week that the idea of supporter ownership was "worth looking at" and observed that similar schemes have worked well for teams on the continent.

Although the Ibrox club currently sit ten points clear at the top of the Scottish Premier League, their debts are believed to be in the region of £30 million.

Written by Paul Roberts

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