Rangers director Dave King has revealed how he ditched plans for a takeover because of the club's bankers, Lloyds Banking Group. The South Africa-based businessman has already invested £20million in the Scottish champions and had considered a buy-out.

"I looked at buying the club in the third financial quarter last year," he told the Daily Record.

"I felt the position adopted by the bank was inflexible and commercially aggressive against the club. Their demands were excessive.

"It provided no opportunity for me to sensibly come in and put money into the club knowing the new money would not be going into Rangers but to protect the bank's position. It would have been throwing good money after bad."