Duff and Phelps have announced that American businessman Bill Miller has been granted preferred bidder status to take over Rangers.
The tow truck tycoon was vying for control with the Blue Knights consortium led by former Rangers director Paul Murray and backed by Sale Sharks owner Brian Kennedy. However, it looks like the American has won the race to succeed Craig Whyte as owner.
Last month Miller announced plans for an £11.2million bid for Rangers which would create what he described as an "incubator" company while Duff and Phelps bid to take the club out of administration through a Creditors Voluntary Arrangement.
In revealing his plans on April 20 in a lengthy statement, Miller claimed to have found a new solution, after deciding a straight CVA would be too risky and prolonged.
The American businessman said: "In order to preserve the club's history, records, championships and assets, I will put the heart of the club into an 'incubator' company while Duff and Phelps works to make the sick patient healthy through a CVA process that effectively works to radiate the toxicity of past administrations' sins out of the patient while the healthy heart is preserved and moves forward."
Source: FOOTYMAD
