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

    Barca fans excited by Suarez

    Barca fans excited by Suarez

    23-October-2014

    Luis Suarez's return from his ban has ended meaning the Uruguayan striker can play against Real Madrid, which the Barca fans are very excited by.

    Latest Sky Sports News HQ Report

    Latest Sky Sports News HQ Report

    23-October-2014

    The very latest news brought to you by the UK's leading sports channel; Sky Sports News.

    Internal investigation at Dundee Utd

    Internal investigation at Dundee Utd

    23-October-2014

    Dundee United have released a statement saying they had started an internal investigation into the conduct of two of their players following information received by the club.

    PFA Scotland tackling addictions in Football

    PFA Scotland tackling addictions in Football

    23-October-2014

    The Scottish PFA has started a new Wellbeing Fund to help players suffering from mental illness or gambling problems. Their chief executive Fraser Wishart says they are already helping players come forward and overcome their troubles.

    Sky Bet

      • Retrieving latest Sky Bet odds

    Facebook Favourites