Rangers director Dave King suggests it is he who has first option on Craig Whyte's shares.

The South Africa-based businessman has told BBC Scotland that he came to an agreement with majority shareholder Whyte to have first refusal on the takeover of the Glasgow club despite the fact that former Sheffield United chief executive Charles Green has signed a contract with 'Gers administrators Duff & Phelps.

"It was verbally agreed over lunch but is legally valid," King said.

"It suited him at the time and I will hold him to it.

"I have first option on (his) shares and would not forgo this unless I was absolutely certain that any proposed transaction, that excluded me, was in the best interests of the club.

"I have yet to see such a proposal."

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