GLASGOW: Four interested parties submitted “best and final” bids for debt-stricken Rangers by last evening’s deadline with former director Paul Murray’s Blue Knights consortium being joined by offers from Germany, the United States and Singapore.
Sale Sharks owner Brian Kennedy said he would only bid if he thought the winner would put the club into liquidation but joint administrator David Whitehouse, of Duff & Phelps, believes it is possible to bring the Glasgow giants out of administration by the end of the season.
Whitehouse said: “Following our announcement on 30 March, that best and final bids for control of Rangers Football Club should be submitted by 5 April, I can confirm we have received four bids by close of business. The bids are structured in various ways, but I would describe them as positive and constructive.
“The administration team will now analyse these bids over the forthcoming days and hold discussions with relevant parties to gain further understanding of the details of their bids.
“It will be our intention to accept an offer next week and this will be followed by a period of due diligence and exclusivity. At this stage, we cannot be precise in timescale but estimate that an exit from administration before the end of the season is achievable.
“We appreciate the need to conclude this process as quickly as possible. It is, however, most important to secure the best possible outcome for creditors, Rangers Football Club and its supporters.”
Rangers have already had an application for a European licence for next season rejected by the Scottish FA and UEFA.
# # # #