Rangers clear credit facility
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Glasgow-based football club Rangers have cleared a £3 million credit facility with financiers taking a club car park, a derelict ticket office and stadium TV screens off the hook.
According to The Herald newspaper, the arrangement related to a fixed-term loan with Manchester-based financiers Close Leasing and had been the first credit facility since Sir David Murray sold Rangers to Craig Whyte in 2011.
The report states that the £3 million working capital funding facility, which had been provided against the club’s Edmiston House and Albion car park properties and fixtures within Ibrox Stadium, has now been repaid.
The financial protection required by Close to guarantee Rangers’ performance on a debt obligation was been released in relation to Edmiston House and the Albion car park.
Details lodged confirm any debt secured by the charge has been satisfied in full.
It is understood the stadium catering outlets said to be worth £1.567 million, the Ibrox public address systems valued at £556,000, the bowl TV (£432,000) and the WIFI system (£675,000) are also no longer being held as security.
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