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Whyte completes drawn out Rangers takeover in £1 deal

Craig Whyte has completed his drawn out takeover of Rangers Football Club for £1 after over six months of negotiations.

The businessman, who has purchased Sir David Murray's 85.3% shareholding, will inject £5m as well pledging to settle the club's debt with Lloyds Banking Group and a place a further £20m into the Clydesdale Bank Scottish Premier League champions over four years.

Whyte has already targeted building the club’s commercial activities.  "Rangers are a fantastic club and we can achieve a lot.

"We can expand the commercial activities and the branding but it all comes down to doing well on the field. That's the most important thing. We need to keep winning trophies.

"It has been a long time coming as it has taken more than six months to conclude this deal. So it was a good moment for me."

 

Scott Hobro

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