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Lloyds clear way for Rangers takeover

Lloyds Banking Group has denied it is blocking Craig Whyte’s takeover of Rangers Football Club through a £1m ‘exit’ fee.

The bank released a statement refuting the claims that it had demanded the sum before any takeover could be completed.

Whyte has been involved in discussions with current owners Murray International Holdings for the Clydesdale Scottish Premier League champions for four months.  It is thought Whyte will pay in the region of £33m.

A statement from Lloyds read:  "Any potential takeover is a matter for Rangers Football Club and its shareholders.

"Suggestions that Lloyds Banking Group is blocking a deal to acquire the club are baseless and without foundation.

"We understand the concerns of Rangers' supporters, given recent media speculation. Lloyds Banking Group recognises the importance of Rangers FC to its supporters, shareholders and to the wider football industry in Scotland.

"We are committed to supporting the board of Rangers FC in their plan to ensure the financial stability of the club."

Whyte is expected to remove all the club’s debts should he take control at Ibrox Stadium.


Scott Hobro

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