Rangers administration: Statement from Club 9 Sports in full

CLUB 9 Sports, the Chicago-based company today denied any interest in buying Rangers, and issued the following statement this evening.

“We can confirm that representatives of Club 9 Sports have been involved with investigating, analyzing and considering a potential purchase of Rangers Football Club, plc on behalf of a group of interested parties from the US and UK. However, at no time has Club 9 Sports itself offered a bid to acquire the club. Our role has been as a member of a proposed consortium. We can also confirm that we have not met with, spoken to or otherwise been associated with Craig Whyte in any way.

Furthermore, Club 9 Sports will not be bidding for control of Rangers Football Club, plc. We understand that it has been strongly rumored that our group planned to “liquidate” the club. It should be made clear that any party that attempts to acquire the club, eliminate the debts, affect a turnaround, invest monies and put the club back on solid ground is in fact “saving” the club from liquidation and preserving its past and its future. In an asset purchase, all of the good and valuable assets (records, marks, names, trophies, players, staff, history) are preserved and separated from the bad and harmful liabilities (tax bills, bad contracts, creditors), which have put the club into administration and which act to force the entirety into liquidation. By putting all of the assets into a different corporate structure, the assets are in fact rescued from liquidation. Such a transaction would be very similar to the one that occurred at Leeds United in 2007, which simultaneously rescued that club, maintained its proud history and allowed the club to shed its debt burdens so that it could have the opportunity for future success.

Finally, we would like to acknowledge that any successful bidder for Rangers will indeed need to embrace the legendary fan base of the club and communicate with openness and regularity. There is no doubt that the remarkable record of championships won by Rangers is matched only by its equally remarkable support from legions of fans, supporters and followers throughout the world.”