Rangers crisis: Ticketus pull out of Blue Knights consortium

Fresh blow for Rangers as Ticketus pull plug on Blue Knights consortium

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UPDATED:

10:05 GMT, 27 April 2012

Ticketus, who are owed 27million from Rangers over the next three years, have pulled out of the Blue Knights consortium bidding to buy the club.

The investment firm had been in talks with Paul Murray, who is spearheading the Blue Knights' bid, over helping to finance a takeover deal.

However, they no longer feel they can justify their involvement to their investors with this week's Scottish Football Association sanctions adding another obstacle to the process.

Dark clouds over head: Rangers have suffered another blow in the takeover process of the stricken Scottish Premier League club

Dark clouds over head: Rangers have suffered another blow in the takeover process of the stricken Scottish Premier League club

In a statement, the London-based firm
said: 'Following extensive discussions with the Blue Knights, led by
Paul Murray, Ticketus today confirms that it has withdrawn from the Blue
Knights Consortium after it was unable to finalise satisfactory terms
of agreement for its investors with the Blue Knights around
restructuring its ticket purchase agreement.

'Consequently Ticketus is no longer
able to play a role in the consortium's bid for The Rangers Football
Club PLC at this stage.'

More to follow…