After being blocked in his bid for the Rangers Football Club, a disappointed Robert Sarver has reportedly given up and withdrawn from the race to take full ownership of the Rangers F.C.
Sarver, who also owns the Phoenix Suns, offered £20M for a majority stake of the club but this was rejected by the Rangers believing that Carver would not be able to have enough backing of shareholders.
The £20M offer is actually an appended offer, improving the previous £18M Sarver gave last January 6. Aside from the higher bid, Sarver was willing to shell out an additional £6.5 million to help the Rangers resolve their current financial problems.
But despite Sarver's withdrawal, it seems that he is not giving up just yet. In fact based on his official statement, Sarver reserves the right to make another offer in the next six months.
"I wish the club and fans the best of luck. If they want my support in the future, then they only have to ask" says Carver during an interview at the Stock Exchange.
Sarver was alerted by former Rangers player David Robertson about the team's situation. But his intent could have been suffered a major block when the Three Bears – Douglas Park, George Letham and George Taylor – made surprise share purchases. David King later on joined the fray, translating to 34% control of the Rangers club.
As it stands, the Rangers may have to find some other way to address their financial burden at present. A likely scenario is seeing the club seeking aid from Newcastle owner Mike Ashley who owns 8.92 percent of the Rangers. Ashley had already provided a £3M loan so it could be interesting if Ashley would be willing to extend further financial support.
