Scottish Championship side Rangers has repaid £1.5M ($2.4M) loaned to the club by Dir Sandy Easdale and a "prominent businessman," according to Matt Coyle of STV. The revelation "comes as more than four million shares were also traded in the Ibrox club on Tuesday." Rangers secured a £1M ($1.6M) loan from shareholder George Letham in March after an "initial loan deal with hedge fund Laxey Partners fell through." Easdale also loaned the club £500,000 ($810,000) interest-free. In a statement released through the London Stock Exchange on
Tuesday, Rangers "confirmed it had repaid the money" to Easdale and Letham. The LSE said that 4.265 million shares were also traded in the company. That equates to £853,000 ($1.4M) worth and more than 5% of the total shareholding. It is "not yet known who obtained the shares but the club are obliged to announce it within 24 hours" (STV, 9/30).
WHITE DISQUALIFIED: The Scotland DAILY RECORD reported former Rangers owner Craig Whyte "has been disqualified as a director for 15 years." The Insolvency Service handed out the "maximum ban available" under its powers "for failing to avoid conflict of interest in the running of the club." Whyte took Rangers into administration in Feb. '12 after buying the club for £1 from former Rangers Owner David Murray and they were "consigned to liquidation in the June of that year -- just 13 months after he took over the club." U.K. Business Minister Jo Swinson said, "The court has disqualified Craig Whyte for 15 years for the harm he caused to Rangers Football Club, and to the many football fans who believed in his promises" (DAILY RECORD, 9/30).
