Funds assurance from Whyte camp

Chief Sports Writer

Saturday 9 April 2011

THE Rangers takeover saga will now slide into next week with anxious supporters last night being assured that a successful resolution would result in more transfer funds for Ally McCoist, the incoming manager, in the summer.

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Hugh MacDonald

Lawyers for Craig Whyte are still examining documents with a source close to the talks stating that the legal and administration work was “taking much longer than anticipated to resolve”. The bid for Rangers is still believed to be worth £25m but there was speculation last night that Whyte was trying to trim the cash paid to the minimum.

Whyte has not spoken to the press to comply with Stock Exchange rules but a source close to his camp said last night: “We are determined to get the right deal for Rangers, for the manager, for the players and we want to get the right deal for the fans who deserve nothing less. That is why we are taking our time to make sure that as much cash as possible goes into the club. That has been our guiding principle since day one.”A source close to the talks also said that McCoist, who will take over as manager from Walter Smith at the end of the season, could be given more than £5m of the £25 promised over a five-year term. “There is a recognition that more substantial investment is needed immediately in players,” he said. “This would be reflected in the budget given to the manager.”If the examination of documents provides no unwelcome surprises, Whyte’s next move would be to make a formal offer and inform the Plus market.

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Funds assurance from Whyte camp

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