CRAIG Whyte told Rangers bosses the money to fund his acquisition of the football club was “coming from himself”, a court has heard.
The statement was said to have been made during a meeting with board members in Glasgow in March 2011 after Whyte put forward what seemed to be a “viable proposition” to buy the club, jurors heard.
The jury was also told the club’s bank wanted the deal with Whyte to go through.
Former Rangers owner Whyte is on trial at the High Court in Glasgow, where he is accused of acquiring the club fraudulently in May 2011.
Whyte, 46, faces two charges relating to the purchase of Rangers, one of fraud and another under the Companies Act. He denies both allegations.
Former Rangers finance director Donald McIntyre, 58, told the second day of evidence in the trial that he believed the board was informed in November or December of 2010 that Whyte “had an interest in acquiring the club”.
“It seemed a more viable proposition,” Mr McIntyre told the court, adding that an independent committee was formed to look at Whyte’s offer.
“We would be looking for someone with the wherewithal and financial background to take the club forward. That was crucial,” the witness said.
The court heard Whyte ultimately bought the club’s majority shareholding for £1.
The purchaser would also have to pay £18 million to Lloyds Bank – a creditor of Rangers – and a further £9.5 million for a “small tax case” and for buying players, the court heard.
McIntyre said he first met Whyte at a solicitors’ office in Glasgow in March 2011 to “find out a bit more” about him. Several other board members were also present.
McIntyre said Whyte spoke in broad terms about what he did and told of his involvement in “turning companies around and also trading in options or futures”.
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