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Whyte defends Ticketus deal

Craig Whyte insists he had Rangers' best interest at heart when he sold off future season tickets to pay off some of the club's debt.

Last Updated: 15/02/13 at 15:06 Post Comment

Craig Whyte: Former Rangers owner has defended Ticketus deal

Craig Whyte: Former Rangers owner has defended Ticketus deal

The former Ibrox owner brought in a reported £24m when mortgaging off three years of tickets to London-based company Ticketus.

Whyte, who bought the troubled club for £1 from previous owner Sir David Murray in May 2011, used £18m of the proceeds to clear an overdraft with Lloyds Bank.

The deal failed to stave off administration and subsequent liquidation and infurated fans of the club, who were later voted out of the top flight of Scottish football.

Speaking in an exclusive interview with Sky Sports News' Jim White, Whyte said: "It wasn't the fans' money. It was the club's money, money the club were due in future income.

"Selling season ticket money is a normal way of financing football clubs. There was no other way to get Lloyds Bank off our back at the time.

"At the time Lloyds Bank were effectively running the club and I found a solution to that which worked.

"Within the context of having this huge tax case hanging over us there was no other way to finance the club at that time. Any other way would have been insane.

"That was how I decided to do it and if I made a mistake then it was not being completely open at the time."

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Readers' Comments

I

worry about these types of conclusions on a teams brilliance when it was very clear that Argentina had 4 chances where they really should have scored and on chances alone then it would have been the more pragmatic Argentinians who would be the best in the world. I like the Germany team but this just shows that even with planning it relies on a great deal of luck and finding your opponents at just the right time.

dryice
Reward At Last For Years Of Careful Planning

W

e all know the British public don't have the patience to plan for 14 years. No chance. As soon as our young players don't win the world cup they get harrassed and abused to the point of mental breakdown. No, England likes to react to failure by sacking the manager and tearing up their best laid plans in favour of something shiny and new to keep the knee jerkers happy.

HarryBoulton
Reward At Last For Years Of Careful Planning

G

lad Messi was player of the tournament, there was no-one more deserving. Except Robben. And James Rodriguez. Or Muller and half the Germany team etc etc

sailingmagpie
Golden Ball award for Messi

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