Glasgow club Rangers’ search for a new owner continues, with manager Ally McCoist admitting negotiations are ‘frustrating.’
Since entering administration in February, Rangers have been searching for a solution to stabilise their future.
There are two bidders, the Blue Knights consortium, led by former director Paul Murray, and American investor Bill Miller.
Both have asked for more time before their bids are being carefully scrutinised by Rangers’ administrators.
In a statement they said: “At this stage neither party has currently made an offer that is capable of acceptance by the administrators and we can only move forward when we have an offer on the table that can be concluded following a period of final due diligence.
“In broad terms, the Blue Knights are trying to resolve issues regarding the structure of their proposed funding partnership with Ticketus as well as conducting further analysis of player contracts.
“The proposed bid from Mr Bill Miller is, as he made clear on Friday, subject to specific conditions.
“Both bidders have raised with us their strong desire to attain greater clarity on potential footballing sanctions the club may face and these remain issues to be resolved.
“We believe that both bidding parties have the best interests of the club in mind and, frustrating as though it is for fans, it is better that these complex issues are addressed now rather than later.
“It is imperative that whichever offer is taken forward can be delivered. For the avoidance of doubt, neither bid involves liquidation.”
Manager Ally McCoist responded: “It has been a frustrating time for everyone associated with the club but I would ask our fans to stick with us for a few more days as we should have a clearer idea of where we are.”
Duff and Phelps, Rangers administrators, added: “What would be the worst outcome is neither party deciding they wish to carry on. It is therefore not in the club’s interest for people – failed bidders and concerned supporters – to be generating hostility to bidders who are trying to secure the club’s future.”
image: © Tom Brogan
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