New Rangers Owner Whyte Hits Out at Critics of Takeover

May 9, 2011

After completing a drawn out takeover bid for Scottish Premier League champions Rangers this weekend, new owner Craig Whyte has insisted his acquisition represents the best possible deal for the club.

David Murray’s record breaking 22-year association with the club effectively came to an end after Whyte agreed the buy-out after six months of negotiations. The Independent Board Committee (IBC) of Rangers have however, expressed concern over the deal.

The IBC stated: “The IBC and Wavetower (a company set up to complete the transaction) have differing views on the future revenue generation and cash requirements of the club and the IBC is concerned about a lack of clarity on how future cash requirements would be met, particularly any liability arising from the outstanding HMRC case.”

Whyte responded by saying: “The statement from the board is complete and utter nonsense and actually they know it is nonsense. I think maybe certain individuals have different agendas and obviously people enjoy their positions with the club and don’t necessarily like change.

“The guiding principle from the outset has been to get the right deal for Rangers. I know the time this has taken has created a lot of frustration, but it was vital we secured a deal that meant we could maximise investment in the team and that is what has been achieved.”

Murray added: “I have had the privilege of being the majority shareholder of our great football club for over 22 years. During this time, we have seen many highs and lows together, and I trust that the successes will continue for many years to come.”