21 Jun 2010Rangers chairman 'encouraged' by Lloyds talks

Football Clubs News | Football Finance News

Alastair Johnston, chairman of debt-stricken Scottish Premier League champions Rangers, has expressed optimism after holding discussions with Lloyds Bank about the club's parlous financial state.

In an interview with the Daily Record, Johnston also paid tribute to the work of veteran manager Walter Smith, who he said had returned Rangers to a "healthy position" after winning a second consecutive Scottish title last month.

Discussing the failed buyout attempt of Andrew Ellis, he explained: "We never thought the takeover was going to happen anyway. I still to this day have not or spoken to Andrew Ellis and it doesn't look like I ever will."

Johnston admitted he remains unsure whether the English property developer's takeover bid was ever "serious", but claimed he had been "encouraged" by talks with Lloyds about the Ibrox outfit's plans for the near future.

Ellis' protracted bid for Rangers fell through after he failed to reach agreement with majority shareholder Sir David Murray last week.

Written by Mark Thompson

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