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Island based company sells stake in Football club

Mon, 05 Jan 2015

An Isle of Man investment group firm has sold their majority share in Rangers football club.

Laxey Partners sold their 16% share to a consortium in a deal worth almost £2.7 million.

Ranger's fortunes took a nosedive in 2011 when they were forced into liquidation, having to re-enter the Scottish league in the fourth tier.

Their situation has steadily improved since then but they are currently faced with needing to raise £8.3 million before April 1st if they are to stay afloat.

Laxey Partners have a base on Athol Street as well as an office in London. 

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