Rangers takeover: Administrators deny they are at root of delays

RANGERS’ administrators last night denied suggestions that they are dragging their heels in the process of appointing a preferred bidder.

Paul Murray, who is heading the Blue Knights consortium, has reportedly suggested that the latest delay, prompted by the SPL’s stated intention to bring in more stringent insolvency punishments, could push the club closer to liquidation.

He has asked that the administrators move quickly to allow the successful bidder to push on with saving the club. But Paul Clark, right, of Duff & Phelps, insisted they were powerless to move forward as fellow bidders Bill Miller and Singaporean businessman Bill Ng want discussions with the SPL regarding the implications of Rangers coming back as a “newco” before advancing with their bids.

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“We saw the comments from one bidder in the media on Saturday but it is not us who are holding up the process or moving the goalposts and all the bidders are aware of that. Before selecting a preferred bidder, it is vital to the club’s interests that bidders have made in writing their full financial commitment.

“We believed we were nearly there last week and it is unfortunate that matters have run on. We hope to move things along next week but there is a lot of hard work to be done.”

It is understood that Miller and Ng are hoping to talk to the governing body over the next 24 hours as they seek answers.

“The SPL proposals re a ‘newco’ scenario did raise some concern but more important was the grey area of the club exiting administration but not completing a CVA before next season and that still requires clarification,” said Clark. “While bidders wish to remain at the table all of them attached conditions to their bids which included access to the football authorities.”