Rangers chairman David Murray picked up his knighthood from the Queen on Wednesday.

The 55-year-old entrepreneur received the honour, for his services to business, at a ceremony in Edinburgh.

But the Ayr-born steel tycoon remained tight-lipped about his award after the investiture at the Palace of Holyroodhouse.

He posed briefly for photographers, but kept quiet about the exchange he had with the monarch.

Sir David was one of 85 people to be given their honours by the Queen on Wednesday, but the only one to receive a knighthood.

His portfolio of metals, mining, property and venture capital businesses has made him Scotland's fifth richest man, worth an estimated £750 million.

In 1989 he bought Rangers for #6million and was at the helm for most of the period when the team won nine league titles in a row from 1989 to 1997.

He stepped down as chairman in July 2002 but returned to the post in the summer of 2004, launching a rights issue to slash the club's debt.

Sir David, wearing a black tailcoat and grey trousers, was the first person up to receive his award today.

The Queen, wearing a gold dress with a floral pattern, took just under an hour to hand out the honours in the palace's Picture Gallery.

The proceedings were accompanied throughout by music performed by the orchestra of the Scots Guards and were watched by the Royal Company of Archers - the Queen's official bodyguards in Scotland.

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