Rangers FC

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• Founded:1873
• Manager:Walter Smith

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Gers respond to buyout reports

06 Mar 2010 - 13:23:21

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Rangers could be poised for a takeover after the Scottish champions released a statement hinting at a potential buyout at Ibrox.

The Gers are reported to be more that £30million in debt despite their continued success on the pitch, but talk of a takeover has been rife following Sir David Murray's decision to step down as chairman at the beginning of the current season.

Reports claim that a London-based consortium is preparing to launch a bid for the club, which is still 90 per cent owned by Murray.

"The board of directors of Rangers Football Club plc is aware of the recent takeover speculation in the media and refers shareholders and supporters to a previous statement issued in October 2009," read a club statement.

"The club's board has been advised by its principal shareholder, Murray International Holdings Limited, that it is considering options regarding its shareholding in the club and this may or may not lead to MIH disposing of some or all of its stake in the club to a third party.

"The directors of the club will keep shareholders advised of key developments but the board is unable to comment further at this time."