NBA Franchise Owner Makes Rangers Approach
Robert Sarver, the owner of the Phoenix Suns NBA team, has made an approach to take a controlling stake in Scottish football club Rangers with a deal reportedly in the region of £18 million.
Sarver made contact with David Somers, the chairman of Rangers International Football Club, last month with the news confirmed in a statement to the Stock Exchange on Monday.
The Rangers statement read: “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.”
The statement added that Sarver must make an offer or withdraw his bid by 5pm on 2nd February.
According to media reports, Sarver has also held discussions with Rangers’ Three Bears consortium, made up of businessmen Douglas Park, George Letham and George Taylor.
Over the festive period Douglas Park and former director David King separately acquired ‘significant’ stakes in Rangers – currently playing in the second-tier Scottish Championship.
Park and his fellow investors Letham and Taylor now own nearly 20% of Rangers, with King holding around 15%.
King had previously been part of a consortium alongside Letham and Taylor, which, in October, offered £16m of investment in return for a controlling interest but that deal was rejected in favour of a £2m loan from Mike Ashley.
The Newcastle chief owns nearly nine per cent of shares but he was also thwarted in an attempt to increase his shareholding to 29.9 per cent, with the Scottish Football Association “unanimously” declining his proposal just before Christmas.
