Lloyds now controls Rangers

Scottish Rangers Football Club is now under the control of Lloyds Banking Group.

The information was revealed by Walter Smith, the club’s manager after other officials denied the fact. The information raises further speculation that the Rangers are losing autonomy. 

This is following David Murray’s resignation as chairman of the club and the appointment of Donald Muir, a representative of the bank, as non-executive director of the club. 

It was confirmed yesterday that interested parties have contacted the club regarding a possible sale. No formal offers have been made. A statement on the Rangers’ website commented that any new owner would have to be able to ‘take the club forward’ rather than simply provide initial funds to purchase the club, which is currently almost GBP 30 million in debt. The site also stated that ‘there is no need for the club to sell assets during the January transfer window.’

The club has been for sale since the beginning of the year.