Robert Sarver has submitted his second bid to purchase Scottish side Rangers F.C.
After having his initial offer rejected, Sarver upped his bid to over $30 million in attempt to secure ownership of the club.
[ RELATED: Scottish Premiership standings ]
Sarver, who made his millions as a banker in America, currently owns the Phoenix Suns of the NBA and the Phoenix Mercury of the WNBA. In a statement to the stock exchange, Sarver explained his proposal for the club.
This revised proposal hopefully helps the board deal with its short-term cashflow crunch and also addresses my desire to see the club on a solid long-term financial footing.
It would also enable Rangers to repay the loans from Mike Ashley and Sandy Easdale, and free it of debt.
I know that there are various groups of prominent fans who have been working hard for a long time to bring change to the club and they can rest assured that, if my proposal is accepted, I am committed to building a strong partnership with fans and key stakeholders to do what is best for the club.”
Rangers are one of the most historic clubs in the world, winning the Scottish league a record 54- times and a European Cup title in 1972. However, the club has been facing an uphill battle due to financial troubles over the past few years.
The club was liquidated after the 2011-12 season, and despite finishing second in Scotland’s top division, were forced to move down into the fourth tier after gaining a new corporate identity.
Rangers won back-to-back promotions, and are currently in second place in the Scottish Championship, the second tier of Scottish football. Sarver is clearly making an investment in a side that he believes will return to the Scottish Premiership and regain the glory of the old times.