Ellis takeover of Ibrox club 'entirely likely'

ANDREW Ellis is "very likely" to take over Rangers in the next few weeks, according to one of the men helping to facilitate a deal.

Talks are taking place between the London-based property developer and the club's principal shareholder Murray International Holdings. Ellis' offshore firm RFC Holdings (Guernsey) are being represented by Channel Islands trust firm Marlborough, who are listed as the company's directors.

Marlborough business development expert David Gilmour said: "It is entirely likely that the deal will go through but it's still at an early stage.

"I know it's been said that Andy is a frontman for a consortium but I can tell you it's just him – he's the only bidder and there's nobody else behind the deal.

"It's going to be around two-and-a-half weeks before anything happens because we are going through the due diligence process. Andy is in Zanzibar at the moment and will not be making any comment because of Stock Exchange rules."

Terry Fenwick – who was installed as manager at Northampton by Ellis and lasted just 49 days and seven games in the role – believes the potential new owner has the "right intentions" towards Rangers. He said: "He is a football man at heart. He will want to see Rangers up there and, if he's got people behind him with the finances to restore what is already a fabulous club, I can assure you everything will be done with the right intentions."