Cash-strapped Rangers reveal approach from potential buyer

26 October 2009 07:39
Rangers have revealed that they have been the subject of tentative enquiries on behalf of potential new owners at Ibrox.

The cash-strapped SPL club have been on the lookout for fresh investment following Sir David Murray's decision to step down as chairman in August.

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Confirmation of the enquiries has followed manager Walter Smith's weekend comments that the club were "stagnating" due to a lack of funds.

"For the avoidance of doubt and due to recent media speculation, the club can confirm that while there have been tentative enquiries regarding the sale of the club, there are none that have realised an offer," read a club statement.

"As stated by Sir David Murray, it is not necessarily about price, but the new owner having the capability to take the club forward that remains essential.

"It is important to highlight the statement issued by Lloyds Banking Group to the press on Saturday evening, that Lloyds Banking Group recognises the importance of Rangers Football Club to its supporters, shareholders and the wider football industry in Scotland.

"The bank continues to be very supportive of both the club and the board as they manage the business through the more difficult economic conditions currently prevailing.

"As such, there is no need for the club to sell assets during the January transfer window."

Source: DSG