Takeover news hailed by Rangers fans

Rangers supporters have welcomed reports that Scottish businessman Craig Whyte is negotiating a takeover with majority shareholder Sir David Murray.

It is claimed Whyte could assume control of the Clydesdale Bank Premier League champions by Christmas and take care of the club's debt, which stood at 27.1million on June 30.

Murray had taken the club off the market after talks over a deal with London-based property developer Andrew Ellis fell through.

But he has remained open to a sale if he feels a potential buyer can serve the club's best interests.

And Rangers fans' representatives have given their blessing to Whyte, who has a wealth of business interests, including security services and office cleaning.

The Rangers Supporters Trust hailed news of Whyte's involvement as "extremely positive".

Trust board member Kenny Park said: "This appears to be a very positive development for the club.

"Rangers fans will definitely welcome any initiative that stabilises the finances of the club and enables it to move forward.

"We look forward to hearing further details of Mr Whyte's plans and working with him and his board as they build for the future and strive to continue Rangers' proud tradition of success."

Whyte, who was raised in the Lanarkshire town of Motherwell, began his wealth creation by investing in the stock market during his school days and started his first business aged 19 when he set up a plant hire firm.

The club have yet to comment on the latest takeover speculation.