Whyte Rejects Ellis Claim On Shares

By Inverness Reds News Staff
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Updated: April 11, 2012

Rangers Craig Whyte has rejected claims made by a former director who believes he is owed shares in the club.

Andrew Ellis revealed that he has sought legal advice over a promise he claimed Mr Whyte made to give him a 24.9% stake in the Ibrox club.

The former Queens Park Rangers director claims Mr Whyte agreed to transfer the shares to him after buying a 85% stake in Rangers from Sir David Murray for a nominal £1 last May.

However, Mr Whyte has denied the claims made by Mr Ellis.

A spokesman for the Rangers owner said on Tuesday: “Andrew Ellis is not entitled to any shares in the club. There was never any agreement in place with him.

“As a former director of the Rangers FC Group, Mr Ellis was fully aware of all financing arrangements. Any action raised by him will be robustly defended.”

According to a report on the Rangers situation released last week, Mr Ellis is still listed as a director of the club, alongside Mr Whyte and South Africa-based businessman David King.

Mr Ellis claimed that his involvement of lawyers would not affect any sale of the club, with administrators Duff and Phelps expected to announce their preferred bidder for Rangers this week.

He told Press Association Sport: “It certainly will not hold up the sale of the club. I’m suing Craig – not the football club.

“I’ve been trying to sort it out for the last nine or ten months and I haven’t got anywhere so I’ve handed it over to the legal team.”

The director previously claimed he had been duped by Mr Whyte about the use of a £25.3m deal for future Ibrox season tickets with Ticketus to effectively fund his takeover.