Rangers confirm approach from Phoenix Suns owner Robert Sarver and lands £500,000 loan from Sandy Easdale

Guy Bentley
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Rangers confirm they were approached by Robert Sarver (Source: Getty)

Rangers Football Club have confirmed they have received an offer from American financier Robert Sarver for the controlling stake in the club.

Yesterday there were several reports that Sarver, who owns the Phoenix Suns basketball team, had made an offer of £18m.

Rangers confirmed reports in the press in a statement this morning:

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. There can be no certainty that an offer will be made, nor as to the terms on which an offer may be made. A further announcement is expected shortly.

According to the BBC, the 52-year old Sarver made the offer shortly after Christmas and asked the board to call a meeting of shareholders to approve a new share issue.

The Scottish football team, beset by financial difficulties, announced it had landed a £500,000 loan from Alexander Easdale, a club director and shareholder.

The money will be used for "general working purposes over the next few days". Last month, the club's tense annual general meeting saw Rangers chairman David Somers survive a significant protest vote from investors.

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