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Sandy Easdale repaid ‘crisis loan’ from Lewis MacLeod transfer fee

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Just three days after handing Rangers a crisis loan to avoid a potential winding up order by HM Revenue & Customs, Sandy Easdale has been repaid with the proceeds of Lewis MacLeod’s sale to English Championship side Brentford.

In a statement to the London Stock Exchange, Rangers said: “Further to the announcement on 5 January 2015, the Company has repaid the short-term credit facility provided by Alexander Easdale following receipt by the Company of the consideration from the player sale announced on 2 January 2015.”

The ‘crisis loan’ from Easdale had been secured against the income of MacLeod’s sale to Brentford at the start of the January transfer window for £850,000, with 50% up front and a further three installments over the course of 18 months.

Despite the Personal Money Network installment loans being paid back, Rangers’ finances are still in a dire way and significant funding is needed by the end of January – with the real risk of players wages going unpaid as well as January’s installment of PAYE & national insurance.

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About Author

scotzine

Andy Muirhead is the Editor of Scotzine and the Scottish Football fanzine FITBA. He is the Scottish Football columnist for The Morning Star and has written for a number of other publications including ESPN, Huffington Post UK, BT Life's a Pitch and has had his work featured in the Daily Record, The Scotsman and the Daily Mail.

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