By FOS Editor
March 28 2011

Rangers potential new owner Craig Whyte is hopeful he can conclude the takeover by Thursday of this week, although there appears to be some confusion with the role of Lloyds TSB.

Craig Whyte's protracted bid to take over Rangers enters a critical stage this week with Lloyds Bank believed to be the main stumbling block to the deal being concluded.

The £33million bid will see the Scottish tycoon take over 75% of Sir David Murray's shareholding, with London-based property developer Andrew Ellis becoming a 25% partner.

However, it's understood the bank's desire for an 'exit payment' of more than £1million is one of the key stumbling blocks.

Moreover, the severity of the cuts that the bank want to impose on the club for the start of next season is "unsustainable", according to a source close to the deal.

The takeover plans include vows to wipe out the debt and invest £25million in the team over a five-year period.

However, a spokesman for Lloyds Banking Group responded by telling Press Association Sport: "I can categorically deny the existence of any exit or 'redemption' fee."

As usual the Rangers Supporters Trust has had their say today as they seek transparency from the Bank and what they are looking to get out of this takeover.

This whole thing seems to have dragged on all season and I am sure everyone connected with Rangers, players, officials and fans will just be delighted to draw a line under this and get a chance to move the club forward.