A Singapore-based group appear set to be named as the preferred bidder for Rangers after the Blue Knights consortium announced they were taking a step back from the process.
The Blue Knights, spearheaded by former Rangers director Paul Murray, were offered the chance to enter into exclusive talks with administrators over concluding a deal. But, during a delay in attempting to raise a £500,000 fee to do so, their financial backers Ticketus agreed a deal with the Singapore group that the Blue Knights cannot match.
They have now moved aside in the hope that Bill Ng's group can conclude a deal, but they could re-enter the fray if no agreement is reached.
In a statement issued to BBC Scotland, the Blue Knights said they were taking "a step back to enable Duff & Phelps, Ticketus and the Singaporeans to conclude a deal as quickly as possible or not".
Source: PA
