Ibrox chairman Dave King admits he doesn't have the ready cash to pay £11m to own Rangers

Ibrox chairman Dave King admits he doesn't have the ready cash to pay £11m to own Rangers
 

Rangers chairman Dave King doesn’t have the cash to fund an £11million buyout of club shareholders, a judge heard yesterday.
The 62-year-old tycoon’s assets are tied up in offshore family trusts, so he can’t personally stump up the “free funds” to make such an offer, the Court of Session in Edinburgh heard.
King has been hit by legal action from the Takeover Panel after they accused him of breaching rules over his acquisition of the Ibrox club in 2015.
The financial watchdogs ruled he had worked “in consort” with a trio of businessmen – the so-called Three Bears – to take control of Rangers... read more

 
12 October 2017 in Regional, Views: 56
Source: Daily Record
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