Sport : Football

TICKETUS BEGIN LEGAL ACTION

11th May 2012, 07:07pm

Bet with SkyBet  Scottish Premiership. Click here to bet.

Craig Whyte: Rangers majority shareholder

Craig Whyte: Rangers majority shareholder

Ticketus have formally launched legal action against Craig Whyte over money owed to them by administration-hit Rangers.

Majority shareholder Whyte has revealed he gave personal guarantees to the investment firm over capital issued to the club on the basis of future season ticket sales.

Documents from a previous court case showed Ticketus had made two payments to Rangers, one in May last year and one in September, which were worth more than £30million when VAT was added.

The initial payment, worth £24.4million in total, was used by Whyte to pay off the club's bank debt.

With money from ticket sales last season clawed back, Ticketus are owed £26.7million, according to a report by administrators.

A statement from the London-based firm said: "Ticketus today confirms that it has made demand pursuant to the guarantees provided by Craig Whyte and The Rangers FC Group Limited, formerly named Wavetower Limited.

"In addition, demand will be made against Liberty Capital Limited.

"These guarantees form part of the additional protection built into the ticket purchase agreement that Ticketus made with the club in May 2011. As previously stated, Ticketus will claim upon these guarantees to recover any potential shortfall in monies owed to Ticketus by the club."

Bet with SkyBet  Scottish Premiership. Click here to bet.

Football Videos

    Vardy to start for England

    Vardy to start for England

    04-September-2015

    Roy Hodgson revealed that Jamie Vardy, John Stones and Jonjo Shelvey will all start for England against San Marino.

    Tyler's Teaser – 4th September

    Tyler's Teaser – 4th September

    04-September-2015

    Sky Sports' Martin Tyler brings you the latest edition of Tyler's Teaser ahead of the clash between San Marino and England.

    Winless Spurs don't worry Alderweireld

    Winless Spurs don't worry Alderweireld

    04-September-2015

    Toby Alderweireld claims he's not worried that his new Tottenham side are without a win in the Premier League as he knows they're getting better.

    Brown previews Georgia clash

    Brown previews Georgia clash

    04-September-2015

    Scotland captain Scott Brown looks ahead to his sides Euro 2016 qualifier against Georgia.

    Sky Bet

      • Retrieving latest Sky Bet odds

    Facebook Favourites