Scottish Championship side Rangers announced to the London Stock Exchange that NBA Phoenix Suns Majority Owner Robert Sarver made an approach "which may lead to an offer being made for the company," according to Simon Evans of the London GUARDIAN. Reports emerged on Sunday that an £18M ($27M) takeover bid from Sarver "had either been lodged or was about to be and on Monday the club confirmed interest from the 53-year-old." Rangers said, “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." The statement added that "Sarver must make an offer or withdraw his bid" by 5pm on Feb. 2 (GUARDIAN, 1/5). The PA reported it "is another twist to a seemingly never-ending saga," but the financier may now be prepared to back Dave King "and the Three Bears’ group’s attempts to seize control of the club." He "lodged his offer in an email" to Rangers Chair David Somers just after Christmas (PA, 1/5). In London, John Aglionby wrote any offer would put Sarver "up against" Sports Direct Founder and Newcastle Owner Mike Ashley. Ashley, who owns 8.9% of the Glasgow club, late last year extended a £3M loan to Rangers, "which gives him effective control" (FINANCIAL TIMES, 1/5). The BBC's Richard Wilson wrote he "was initially committed to buying 100% of Rangers, but with Park, George Letham and George Taylor now owning almost 20%, and King almost 15%, that is unlikely." At least another 15% "is held by supporters who are unlikely to want to sell their shares." Sarver "is prepared to work alongside fans' groups and other Rangers-supporting businessmen." A source said, "Sarver is a serious player with superb credentials. He is a very well-funded, long-term investor with an impeccable 30-year business pedigree. He knows what it takes to make major sports clubs successful and would bring a tremendous track record to Rangers." The source added, "The response of the club's board to this proposal will be extremely important. If there is a genuine wish to act in the best long-term interests of the club, this should be a very straight-forward decision" (BBC, 1/4).
