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Rangers owner Whyte defends Jelavic sale to Everton

Rangers owner Craig Whyte stands by their sale of Nikica Jelavic to Everton.

Jelavic signed for Everton last night after Ibrox owner Whyte sanctioned his exit in a £6million deal.

The money on offer was LESS than previous bids from English Championship sides West Ham and Leicester City.

Whyte told the Scottish Sun: "In terms of the playing squad, the club agreed a fee with Everton for the transfer of Nikica Jelavic.

"We wish the player well and thank him for his contribution to Rangers.

"The reality of Jelavic's departure is two-fold.

"One, the player wanted to leave and there is no point in trying to keep a player who no longer wants to be at Ibrox.

"Two, the club is simply not in a financial position to turn down offers for players which give a good return on its original investment.

"Investment in the playing squad has been a thorny issue since I took over the club in May and is the source of endless debate, much of it ill-informed."

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