Rangers administrators hold talks with bidders

10 May 2012 10:47

Rangers administrators Duff and Phelps have held detailed talks with three bidders interested in taking control of the stricken club - including one group with 'a Rangers connection'.

Previous bidder, Singapore businessman, Bill Ng has reportedly resurrected his interest, while reports also claim former Ibrox bosses Walter Smith and Graeme Souness have links to other consortiums.

Administrators are hoping to complete a sale by the end of the season despite American tycoon Bill Miller withdrawing his offer earlier this week, just days after being named preferred bidder. Sale Sharks owner Brian Kennedy - whose joint bid with the Blue Knights lost out to Miller's offer - also remains involved in the bidding process.

Joint administrator David Whitehouse was quoted in several newspapers saying: "We've had some quite detailed discussions with three of the four bidders. They are very real bidders and although two of them are very late to the table they are actually very advanced in their thought process, well engaged with advisors and well funded.

"They would be - I believe - popular with fans. Both bids. They are known names in both football and also within the Scottish community.

"There is certainly a more natural empathy with the club than Bill Miller had. There is a Rangers connection there. They want anonymity, but that will break in the next 24 to 48 hours.

"These bidders are in a position where they are well known and if they put their heads above the parapet there will be a crescendo of interest and support and they don't want that yet. They will only do so if they are in a position of likely success.

"Brian Kennedy is what I would describe as the fourth bid."

Whitehouse also claims owner Craig Whyte has agreed to transfer his 85% shareholding for a pound.

He added: "To our knowledge, there are written agreements in place with two of the bidders to transfer his shares. People say he is selling his shares, but he is doing that for a nominal consideration of a pound. Craig Whyte is not going to benefit from this process."

Source: PA