Cricket tycoon Lalit Modi eyes Rangers stake

Modi is reportedly eyeing a 26 per cent shareholding in the club, and his representatives had made contact with Sandy Easdale.

A statement from Modi read: “Glasgow Rangers FC is an institution in itself given the history and lineage of the club.

“I am looking at acquiring a stake in this Scottish institution, as I think the club is seriously undervalued.

“The Glasgow Rangers have a fabulous fan base, a solid home and heritage that dates back over 100 years all of which make for great long term value.

“I have thus initiated talks with a couple of shareholders to understand the situation onground and am keen that these discussions lead to fruition.

“Having said that these discussions are still at a very preliminary stage.”

Earlier, Modi had tweeted: “Great club - solid fan base - great potential.”

He was slapped with a life ban from the Indian Cricket Board of Control after they found him guilty of misconduct and indiscipline.