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Deal Done At Last - 85.3% of RFC sold for �£1 according to Stock Exchange


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A source confirmed: ââ?¬Å?When this Ã?£2.8m tax bill appeared out of the blue, Craig renegotiated with Sir David over the price being asked for his shareholding.

 

ââ?¬Å?It was mutually agreed that the price would be reduced to Ã?£1 for the controlling interest. Instead of Ã?£5m going to Sir David, the tax bill was covered by Craig with the balance going back into the pot for the club to reinvest. So the club has done better out of the deal, which Craig wanted.

 

Hmm. The tax bill will be covered by the club and not Whyte.

 

I also don't see how the balance of �£2.2m will be put into the club, but I guess we can wait and see if that point is just spin or not.

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Yesterday afternoon, Rangers chairman Alastair Johnston announced that he will be resigning from his position on May 16.

 

Johnston hinted that the sceptics on the independent vetting board would have their say down the line, but insisted they would not stand in the way any longer.

 

ââ?¬Å?A great deal of work has been done by the board, and Iââ?¬â?¢m very proud of that,ââ?¬Â he said, ââ?¬Å?Iââ?¬â?¢m confident that the efforts of the board have improved the deal significantly for the benefit of the club.

 

ââ?¬Å?Our views will come out in the future and Iââ?¬â?¢m comfortable with that - but I donââ?¬â?¢t want to stand in the way of progress. I will resign as intended on May 16 but will be working hard until then to make sure Rangers secure the SPL title. After that, I will go back to being the clubââ?¬â?¢s number one fan.ââ?¬Â

 

I'm not. He should be telling the shareholders his views NOW and not waiting until further down the line.

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I'm not. He should be telling the shareholders his views NOW and not waiting until further down the line.

 

Yeh, but the status quo is NOT an option. Just means further paring down and even poorer quality than hitherto coming into Ibrox. If Whyte walks, we are stuck with LBG. If Dave King was really an option he had plenty of chances before now; in any event I'm not happy with us being linked with someone described as a criminal by the SA authorities. Surely Johnston's misgivings are not that serious. What axe does he have to grind actually? He is retiring from the board soon.

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