Craig Whyte's Rangers takeover was clinched with a £1 coin being tossed across a table in Sir David Murray's office.

Philip Betts, a key associate in the buyout, told the high court in Glasgow that he recalled being at the meeting in May 2011 as Whyte acquired Murray's majority stake in the club.

When asked if the £1 was provided during the meeting the 54-year-old said it was "flicked across the table to the lawyers of the Murray Group", but said he didn't know who it came from.

He said Whyte was then told: "Congratulations, you are now the owner of Rangers Football Club."

Mr Betts also told how he took photos at the gathering that he described as being "light hearted".

The claims were made during Whyte's trial where the 46-year-old denies a charge of fraud and a second allegation under the Companies Act in connection with his takeover.

Mr Betts told how he got involved in Whyte's bid for Rangers after first meeting him in 2009.

Giving evidence at the trial on Thursday the asset finance broker recalled how Whyte had wanted his interest to be "low profile".

He told the trial that the businessman had wanted to raise £10m to finalise the deal. However, Mr Betts said Whyte later claimed he was "struggling" to do so and "could not understand why".

So Mr Betts then got in touch with a contact in the financial sector who said he had someone who could help with funding.

Mr Betts and Whyte went on to meet this person at a Starbucks coffee shop near St Paul's in London, which eventually resulted in a meeting with Ticketus, who "expressed an interest" in Whyte's proposal.

Mr Betts said Whyte had been "pleased" at the Ticketus interest.

But the witness added: "He then asked me to ask them if they would consider £20m.

"I think I laughed. I said I would ask as long as he was happy to receive a no."

Mr Betts recalled that "after some deliberation" Ticketus came back and said they would be "interested".

Prosecutors state that Whyte took out a loan from the firm against three years season tickets to help fund the takeover.

Mr Betts told how he travelled to Edinburgh in May 2011 for the buyout to be completed, and said the trip to Scotland initially involved sitting in a lawyers office "twiddling our thumbs".

But the group later went to Sir David's office in the capital and it was there that Whyte eventually struck the £1 deal to takeover at Rangers.

Prosecutor Alex Prentice QC asked Mr Betts: "Was anything said?" and Mr Betts told of the congratulations offerred to Whyte as the club's new owner.

Philip Betts is due to carry on with his evidence on Friday as the trial, before Judge Lady Stacey, continues.