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Rangers statement to stock exchange confirms approach to buy club

7 years ago

Rangers have confirmed that they have had an approach which could see a takeover of the whole club.

The owner of the Phoenix Suns basketball team, Robert Sarver, has made an £18m offer to buy a controlling stake in the club.

The initial move came in the form of an email to Rangers Chairman David Somers, with Sarver asking the board to call a general meeting to ask shareholders to approve the issuing of new shares, which would give him that controlling interest in the club as well as putting Rangers’ finances on an even keel.

However, the American financier also said he was prepared to buy out the rest of the shareholders for £15m if his offer was accepted.

This morning, Rangers have confirmed Sarver’s approach with a statement to the stock exchange, part of which reads;

“The company notes recent press speculation and confirms that it has received an approach from Robert Sarver that may or may not lead to an offer being made for the company.

“There can be no certainty that an offer will be made, nor as to the terms on which an offer may be made. A further announcement is expected shortly.

“Rule 2.6(A) Requires that Mr.Sarver, by not later than 5pm 2 February 2015, either announces a firm intention to make an offer for Rangers, or announces that he does not intend to make an offer.”

How this potentially impacts on Mike Ashley and more importantly, what he does with Newcastle United, we await to see.


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