Rangers May Get Offer From South Africa-Based King, Herald Says

Rangers Football Club Plc (RFC) may get an alternative offer from David King, a South Africa-based businessman, the Herald newspaper said without saying where it got the information.

Rangers is already in talks with Craig Whyte about a possible takeover, the Glasgow-based newspaper said. The Scottish soccer champions said yesterday that a board director wanted the club to consider an alternative funding option. The statement didn’t name King.

King may put up 25 million pounds to repay loans from Lloyds Banking Group Plc (LLOY) and buy owner David Murray’s 93 percent stake, the newspaper said.

The possibility of a second bidder is designed to disrupt Whyte’s proposed transaction, the newspaper said, citing an unidentified person close to Whyte.

To contact the editor responsible for this story: Peter Woodifield at pwoodifield@bloomberg.net

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