Rangers newco owners claim they have 'no intention' of selling club

Rangers: Malcolm Murray claimed Sevco have 'no intention' of selling club.

The consortium behind newco Rangers claim it has "no intention" of selling the club.

Sevco Scotland Ltd chairman Malcolm Murray stated that the purchase of the Ibrox club’s assets was part of a "long-term" strategy.

In a statement released on the official Rangers website on Thursday, Mr Murray also named further backers of the consortium, which purchased the club’s assets and transferred them to a new company in a £5.5m deal.

He said that the group had "working capital is in place for the foreseeable future. Staff and players were paid this month as normal and will continue to be while the Club operates and functions normally."

Mr Murray also confirmed that Sevco is looking for further investment in the club and part of that will be where "fans can invest in the club" as "fan ownership is one of the cornerstones of our philosophy."

The chairman said: "The provenance of all investments made in Rangers is being made now to the SFA and all directors of Rangers will be required to pass the SFA's fit and proper persons test. I also accepted the chairmanship of the club on the basis that the highest standards of corporate governance would be implemented by the board. The board has also provided information to the Rangers Fans Fighting Fund.

"At the outset the investors agreed that Rangers would be a long-term strategic investment and there is no intention of selling the club."

He also stated that Sevco Scotland Ltd owns "all the assets commonly associated with the football club" while Mr Murray said that the company hopes to get "formal approval" for a name change.

Scottish golf clothing firm Glenmuir had previously been named as a member of the consortium, as had Malaysian hotelier Jude Allan, who is also known as Javed Abdullah, as has Middle Eastern lawyer Mazen Houssami.

Investment firm Zeus Capital has also put money into the takeover, Mr Murray said, as well as Chris Morgan, who he described as a "UK-based businessman dealing in family trusts".

Previously, Swiss businessman Alessandro Celano has been named as part of the consortium. He is described by Mr Murray as being from Blue Pitch Holdings, which is not registered in the UK.

In the statement Mr Murray said Sevco’s investors also included "Elias Kaisar and Jean Haddad."

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