Green's consortium completes Rangers purchase deal

Green's consortium completes Rangers purchase deal

Published Jun. 14, 2012 1:42 p.m. ET

The English businessman leading efforts to buy Rangers says he has completed the purchase of the indebted Scottish football club.

Charles Green, who is leading the Sevco consortium that was given preferred bidder status last month, made the announcement shortly after former Rangers manager, Walter Smith, launched a takeover bid on Thursday for the 140-year-old club.

Green did not mention Smith's bid in a statement that said his group had ''completed the purchase of the business and assets of Rangers.''

British tax authorities rejected a deal on Tuesday to save Rangers from bankruptcy as they seek to pursue individuals for money owed.


Rangers' tax debts of 21 million pounds ($32.5 million) are among the club's liabilities.

The status of Rangers in the Scottish Premier League next season is not clear.