Phoenix Suns owner Sarver makes Rangers move

Agence France Presse

LONDON: The majority owner of NBA basketball team the Phoenix Suns, Robert Sarver, has made an approach to Rangers that may lead to an offer, the Scottish giants announced on Monday.
British press reports on Sunday claimed that Sarver, 53, was poised to table an £18 million ($27.5 million, 23 million euros) bid for the club and Rangers confirmed his interest in a statement to the London Stock Exchange.
“The Company notes recent press speculation and confirms that it has received an approach from Robert Sarver (or a vehicle to be established and controlled by him) (“Mr Sarver“) that may or may not lead to an offer being made for the Company,” Rangers said.
“There can be no certainty that an offer will be made, nor as to the terms on which an offer may be made. A further announcement is expected shortly.”
The statement also said that Sarver must either make an offer or withdraw his bid by 1700 GMT on February 2.
News of Sarver’s interest in Rangers emerges after a week of intrigue at boardroom level, as the Glasgow club attempts to recoup £8.3 million of losses in order to stay afloat.
A group of Scottish businessmen known as the ‘Three Bears’ — Douglas Park, George Letham and George Taylor — acquired a 19 percent stake in the club, while another investor, Dave King, raised his stake to 14.57 percent.
King and the ‘Three Bears’ are bidding to take control of the club and media reports suggest Sarver could be prepared to back them.
British businessman Mike Ashley has an 8.92 percent stake, but he was prevented from raising his stake to 30 percent by the Scottish Football Association because of his dual interests as owner of English club Newcastle United.
Meanwhile, Rangers have revealed that they have secured a loan of up to £500,000 from shareholder and football club chairman Sandy Easdale in order to provide “working capital.”
The loan will be secured against future income from the recent sale of 20-year-old midfielder Lewis Macleod to English second-tier club Brentford, which reportedly earned Rangers £1 million.
Rangers are without a permanent manager at present after Ally McCoist resigned last month.
The 54-time Scottish champions were relegated to the fourth tier of Scottish football in 2012 after going into administration.
They are currently in second place in the second-tier Championship, 13 points behind leaders Hearts.