Rangers takeover: Ally McCoist waits as Bill Miller steps up

NOT for the first time, another day of fast moving events at Rangers yesterday saw Ally McCoist deliver press briefings in the midst of developing news.

By the time McCoist sat down to begin his lunchtime conferences the Singapore businessman Bill Ng had withdrawn his offer to buy the club, citing “unwarranted and unexplained delays” in the bidding process, and then, shortly after the Rangers manager had completed his media duties, Bill Miller unveiled details of his £11.2 million bid.

The American tow truck tycoon immediately suspended his bid, challenging other bidders to “put up or shut up” by Monday. If a better offer is not forthcoming, he plans to create what he has described as an “incubator” company while Duff and Phelps bid to take the club out of administration through a CVA [Company Voluntary Arrangement].

Miller’s proposed deal hinges on the club being able to begin next season in the Scottish Premier League, “without any loss of points and with all historic titles in tact”. Miller has stressed that he will not progress with his bid unless he has written assurances from both the SPL and the Scottish Football Association to this effect, a condition which could mean the offer is as good as sunk already.

It was no wonder McCoist sounded weary yesterday as he sat down with the intention to preview today’s clash with Hearts at Tynecastle. With regards to Ng, he said he hadn’t spoken to anyone from that consortium in any case. “They have obviously weighed up the options and decided it is not for them,” he added. “They are well entitled to do that.”

Rangers are living day by day at the moment, and McCoist could not avoid emitting some frustration, and even some anger as he lamented not being able to re-assure the players, whose agreement to take wage cuts was designed to buy the club some precious time. Nearly two months later they remain in limbo, along with the club.

If Miller’s bid is successful, then the Ibrox players would then be free to leave for free as his plan is effectively a newco route, joint- administrator Paul Clark confirmed last night. Fraser Wishart, the PFA Scotland chief executive, has outlined that as far as the union is concerned, each player’s registration becomes null and void in the event of a liquidation event. It has left McCoist staring into an abyss.

“I am in no position to offer anyone a contract, in no position to offer them wages - that has to be the job of the new owner,” the Rangers manager said yesterday. “[A new owner] will hopefully give me, certainly give somebody, permission to offer people new contracts and get their wages back where they should be and where they should have been all along.

“Until that day comes, there is effectively, sadly, not a thing I can do.”

McCoist has not spoken with Miller since some well-reported dialogue nearly a fortnight ago. He has remained in touch with Paul Murray and Brian Kennedy, both of whom are considering their options this weekend. Kennedy had a verbal bid turned down on Thursday night by the administrators. “If you are asking me if it is frustrating, it is completely and utterly frustrating,” said McCoist. “It probably makes me a little bit angry to be honest with you. I feel as though I am letting the players down, although I know I am not because there is nothing I can do about it.”