Ticketus debt smashed by £17m in stunning Paul Murray deal
By Grandmaster Suck
Updated Tuesday, 3rd April 2012
Ticketus are owed £27m by Rangers and have agreed to reduce that to £10m should the Blue Knights gain control of the club.
This amount would be paid over nine years with no repayments at all in the first two years. Rangers would then pay approx £1.4m per year over the remaining seven years but only if Rangers qualify for European football. There are no repayments in any year that we don't.
There is no interest charged on the £10m.
Additional Working Capital
To aid the club through the next few years Ticketus will provide a £10m facility to fund operations.
Rangers FC will not be pursued by Ticketus over any outstanding monies by they retain the right to pursue other parties regarding any losses they may have incurred.
It will open the way to the option for the Blue Knights to purchase the club via a CVA and hence avoid liquidation.