More offers made for Rangers

18 March 2012 11:47

Rangers administrator Paul Clark has revealed more than three offers have been lodged for the club, with at least one more in the pipeline.

Sale Sharks owner Brian Kennedy and a consortium led by former Rangers director Paul Murray both confirmed they had submitted takeover proposals on Friday, the loose deadline for first indicative bids set by administrators Duff and Phelps.

Chicago-based Club 9 Sports, who have seen investment offers for Sheffield Wednesday and Tranmere rejected, and groups from the Middle East and Far East were also reported to be formulating bids. Clark told Sunday newspapers: "I won't name names, but there are extra parties whose names have not been in the media that we have been in contact with."

He added: "There are more than three bids already lodged and we expect one to be lodged early this week. There are parties that are keeping themselves to themselves and getting on with it."

"A new party appeared overnight on Thursday and they are speeding themselves along over the weekend and they expect to make a bid early next week. They're not people I have dealt with before. They appear to be a credible party and we'll see what their work over the weekend brings."

Duff and Phelps admitted on Friday offers were only indicative or conditional as all parties were looking for more clarity on complex issues.

These include the club's undetermined tax dispute, a legal case with investment firm Ticketus over a season ticket deal, which resumes on Monday in the Court of Session in Edinburgh, and the status of majority shareholder Craig Whyte.

Whyte bought an 85% stake in Rangers for £1 on the basis he would invest in the club, but administrators claim there is no evidence he put any money in.

"We've had ongoing discussions with Craig and, in fact, I met him earlier this week just to try and finalise some of these issues," Clark said.

"I remain confident that Craig Whyte's position will not be an impediment to a sale. I won't say exactly what that means, but we've had discussions and we think it can be resolved."

Source: PA

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