Tax investigation delays Rangers takeover

Craig Whyte's takeover bid for Rangers hit another snag after an ongoing tax investigation threatened to add to the club's debt.

The total deficit is thought to exceed £20m and the lack of a deadline has forced Lloyds Banking Group to place a director on the board in an attempt to recoup their losses. Ibrox chairman Alastair Johnston likened the uncertainty to "a 10,000lb gorilla sitting in the room and you don't know what its appetite is."

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