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Whyte to claim millions from Rangers assets sale
FORMER Rangers owner Craig Whyte is preparing to claim millions of pounds from the remains of the old club that collapsed earlier this year.
The controversial businessman is hoping for a huge payout from the sale of the assets to new owner Charles Green's Sevco consortium.
Whyte told The Herald he believes the RFC Group he used to buy the club and pay off its £18 million debt – using future season ticket sales – held a valid security over the Ibrox outfit's assets sold to Mr Green for £5.5m.
If successful he will be placed ahead of other creditors when the remaining money brought in by the liquidation of the failed Rangers company is distributed.
Whyte said: "Everyone knows there was a security there. All these things are being dealt with."
A recent progress report by administrators Duff & Phelps showed the old company had around £2.3m of funds – although a further £2.8m is estimated to be owed through outstanding transfer fees and millions more could be realised from outstanding litigation.
The administrators were also pursuing an unquantified sum held by Uefa as a result of players participating in matches for their national teams.
In their report Duff & Phelps also said they believed Whyte's company was not owed anything.
London ticket agency Ticketus bought the season ticket rights from Whyte and is pursuing him for more than £20m paid to RFC Group to help him complete his disastrous takeover of Rangers. That money was used by RFC Group to pay off Rangers' £18m debt with Lloyds Banking Group
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