10 Jun 2010'No certainty' of Rangers offer

Football Clubs News | Football Finance News

Negotiations between Rangers' board of directors and English tycoon Andrew Ellis have reached an "advanced" stage, but the Scottish Premier League champions say it is not certain a concrete offer is forthcoming.

Reports yesterday (June 9th) suggested Ellis had secured financial assistance from unnamed backers in the Middle East, but a statement released to the stock exchange urged caution and said the two parties had not agreed a price.

"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," the document stated.

Rangers, who are burdened by debts of around £30 million, also made clear that no timeline for the completion of the talks has been set.

The news came after Deloitte revealed Scottish Premier League revenues fell by £31 million last season, following Rangers and Celtic's poor performance in European competitions.

Written by Paul Roberts

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