Rangers takeover: Fans against US tycoon Bill Miller’s ‘incubator’ plan

RANGERS fans voiced their opposition yesterday to the proposed takeover of the stricken club by American businessman Bill Miller, branding his proposal “totally unacceptable.”

Miller has unveiled plans for an £11.2 million bid which would create what he described as a new “incubator” company while administrators Duff and Phelps aim to take the club out of administration through a Company Voluntary Arrangement. A CVA would see creditors receive a percentage of the sums they are owed and the club remain in its present form.

Fans have described Miller’s plan as unacceptable and as “liquidation by the backdoor”.

A statement from the Rangers Supporters Trust read: “The Miller bid amounts to nothing other than liquidation by the backdoor and is completely unacceptable to the vast majority of Rangers supporters.

“Future owners must be accountable and include as broad a representation of the Rangers family as possible and this proposal does not deliver on any of these fronts.”

Trucking-tycoon Miller is technically the only bidder still in the running after Bill Ng’s Singapore consortium announced their withdrawal. A new offer from Sale Sharks owner Brian Kennedy was rejected last week.

The RST wants the Blue Knights, which is preparing a new bid after withdrawing last week and is led by businessman Paul Murray, to re-enter the race in an attempt to prevent Miller from seizing control of the club.

The fan group said: “Paul Murray and the Blue Knights remain our preferred option and, now the Bill Ng deal is off the table. The Blue Knights proposal is the only viable way forward that will command widespread support across the supporters.”

Liquidation would have grave consequences for Rangers. A new club has to wait three years before it is eligible to play in the Champions or Europa League ties, which are linked to lucrative television deals. Rangers would also have to be voted back into the Scottish Premier League or apply to join the Scottish Football League in Division Three.