Sir David Murray linked with shock Rangers investment

Sir David Murray unveils Walter Smith as the new Rangers boss in Janaury 2007. Picture: Getty Images
Sir David Murray unveils Walter Smith as the new Rangers boss in Janaury 2007. Picture: Getty Images
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Former Rangers chairman Sir David Murray has been linked with a shock move to invest money in the Ibrox club.

Murray, 66, stepped down and sold his shareholding in the club for £1 to Craig Whyte in 2011, but is believed to be considering buying back into the Gers, according to a report in the Daily Express.

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It is unclear whether Murray will attempt to buy out existing shareholders or make a move as part of the forthcoming share issue, provided the current regime give him the green light to proceed.

One stumbling block could be the expectation that the share issue is unlikely to be a public flotation.

The new share issue was mooted at the last AGM, but it is understood that only existing shareholders, along with preferred buyers, would be offered shares.

Depending on chairman Dave King’s feelings, this may not include his Ibrox predecessor.

King claims to have lost millions after he was convinced to invest in Rangers in 2000 and in March 2012, threated to pursue Murray for £20 million for “not fully disclosing Rangers’ financial position” when the South Africa-based businessman had initially invested.

Despite selling his shareholding to Whyte when his non-football businesses were struggling, Murray has seen an upturn in fortune, and was named among Scotland’s richest individuals last year with a personal wealth of £150 million.

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