Scottish Championship side Rangers has rejected U.S. banker Robert Sarver's £18M ($27M) bid "to buy a controlling interest in the club," according to the Scotland DAILY RECORD.
The Ibrox outfit "insisted Sarver's offer was not big enough to give him a controlling interest."
Their move "came immediately after the American issued a statement to the London Stock Exchange confirming his offer to Rangers and attempting to reassure fans."
He said, "I believe what the club needs today is a very quick, major injection of capital to stabilise things and I can give the Rangers supporters a categorical assurance that I have the resources and ability to get this club back to its elite level." However, Rangers said that his "undervaluation meant he would not garner the support of other shareholders for his bid" (DAILY RECORD, 1/6). In London, John Aglionby wrote
Sarver, whose proposal involved a placing of 100 million shares, also issued a statement on Tuesday, "confirming his approach to the club but stressing he had yet to make an offer and that 'there can be no certainty that an offer will be made.'"
He acknowledged that "Rangers fans have every right to be wary about someone showing an interest in the club they love, especially given some of the events of recent years." Former Rangers player Davie Robertson said, "I can tell every Rangers fan in Scotland and abroad, if Robert Sarver is successful in becoming part of the club, he’ll not rest until they are back on top again" (FINANCIAL TIMES, 1/6). In Glasgow, Gary Ralston reported retired Scottish basketball player Robert Archibald reckons Rangers "will soon be back in the big leagues if NBA moneyman Robert Sarver gains a grip at Ibrox."
The first Scot to play in the NBA played for the Phoenix Suns a decade ago, shortly before Sarver bought the Arizona team. Archibald: "However, I don’t see why Sarver’s potential involvement in the club cannot be a positive. I don’t know the expectation of Rangers fans, but he will have an avenue of where he wants to go. The Suns are solid and on a good financial footing and spending on their team is up. Given Sarver’s experience, I’d see this as a good opportunity for both himself and Rangers" (DAILY RECORD, 1/6).
TRUE INTENTIONS: Also in Glasgow, Keith Jackson reported former Rangers Chair Alastair Johnston urged Sarver "to reveal the true motives behind his plan" to pump £18M into the "broken Ibrox club." Johnston "wants to know exactly why a man with a background in banking and basketball seems so willing to spend a fortune fixing a club to which he has no emotional ties." Johnston: "I have no preconceived notion he is a bad guy. He has a good reputation in the NBA and is not known as one of these renegade owners. But I can’t for the life of me understand what his agenda is. There is no obvious connection between him and Rangers, Scotland or football. As far as I’m aware he has no granny in the Highlands. ... If he’s going to get involved then he must be transparent and tell the fans the truth or else he will not earn their trust. They have been burned too many times" (DAILY RECORD, 1/6).
