Sarver Makes Revised Rangers Offer

Photo by Jeff Holmes

Robert Sarver has upped his Rangers takeover bid to £20million and offered the crisis-hit club a #6.5m emergency loan to help keep it afloat in the meantime. The US financier had an £18m offer rejected on Tuesday despite the Ibrox board announcing it was dangerously short on cash. Now the owner of NBA side the Phoenix Suns says he is willing to provide cash to pay off loans already taken out in recent weeks if the club accepts his new revised offer. He also hinted he would be willing to continue working with former oldco director Dave King and the Three Bears - wealthy fans Douglas Park, George Letham and George Taylor - who have both bought significant stakes in the past week. In a statement given to the Stock Exchange, the 53-year-old Sarver said: "This revised proposal hopefully helps the board deal with its short-term cashflow crunch and also addresses my desire to see the club on a solid long-term financial footing. "It would also enable Rangers to repay the loans from Mike Ashley and Sandy Easdale, and free it of debt. "I know, of course, that there are various groups of prominent fans who have been working hard for a long time to bring change to the club and they can rest assured that, if my proposal is accepted, I am committed to building a strong partnership with fans and key stakeholders to do what is best for the club. "I look forward to receiving the response of the Rangers board."