Rangers administration: Paul Murray in countdown to rescue Rangers

FORMER Rangers director Paul Murray says he will have assembled a team of “like-minded” businessmen by the end of this week to form a consortium to take over crisis-hit Rangers football club.

Murray, who is heading the buyout consortium, insisted that he will also know how much money they are prepared to inject to try to convince administrators that they rescue the Premier League club.

“By the end of next week I will have a clear view of not just the members of the consortium but how much money we think we can raise,” said Murray, who held an initial meeting with the club administrators, Duff & Phelps, on Friday.

“The people I’m talking to have been there a long time, people who were looking at the club this time last year so the interest has always been there. It’s not like people are starting from absolute scratch.

“The people who are expressing interest at the moment are not doing it for profit-making reasons, they’re doing it to try and rescue the club and put it on a solid foundation.”

Murray said controversial businessman Dave King may be involved, despite his personal tax problems in South Africa. “He’s a former colleague of mine and a friend. I’d like him to be involved.” ”

Rangers went into administration earlier this month over an unpaid £9.5 million owed to HMRC. Owner Craig Whyte took over the club last May but his financial affairs are currently the subject of a police investigation and his takeover is also being probed by the Scottish FA for potential breach of league rules.

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