THE purchase of Rangers FC was sealed by a £1 coin tossed across a table in former owner Sir David Murray’s office, the High Court in Glasgow was told yesterday.

Witness Philip Betts told the trial of Craig Whyte, who is accused of fraud in his purchase of Rangers, that the gesture took place at a “light-hearted” meeting to seal the deal in May 2011.

Finance broker Betts, 54, told the Court he first met Whyte in 2009 and that the accused had wanted to raise £10 million in a bid to buy the club.

Betts said that Whyte later claimed he was “struggling” to do so and “could not understand why”.

The Crown alleges that Whyte pretended to Sir David Murray, and others, that funds were available to make all required payments to acquire a “controlling and majority stake” in the club.

The case centres on charges that Whyte had only £4m available from two sources at the time but that he financed the deal by taking out a £24m loan from Ticketus against three years of future season ticket sales.

The court has heard that Whyte bought Rangers for £1, but agreed to take on debts that included £18m to Lloyds Bank.

Betts told of a meeting involving himself, Whyte and Ticketus who “expressed an interest” in Whyte’s proposal.

Questioned by Advocate Depute Alex Prentice QC, Betts said he travelled to Edinburgh in May 2011 for the deal to be completed.

Prentice asked if a £1 coin had been used, to which Betts replied: “There was, but I do not know from who. It was flicked across the table to the lawyers of the Murray Group. It was all light hearted.”

The trial before Lady Stacey and a jury of eight men and seven women continues.