AN American firm linked to a £25million bid for Rangers says it is working with potential bidders on both sides of the Atlantic.
Chicago-based Club 9 Sports is one of five organisations expected to formally lodge offers for the football club by today's 5pm deadline set by the administrators, Duff & Phelps.
However, the sports investment firm said it does not want to buy Rangers and is working as part of a wider consortium. It also denies suggestions it would liquidate the 140-year-old Glasgow club.
In a statement, Club 9 said: "We can confirm that representatives of Club 9 Sports have been involved with investigating, analysing and considering a potential purchase of Rangers Football Club plc on behalf of a group of interested parties from the United States and United Kingdom.
"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."
It said it would aim to buy Rangers' assets to help the club exit administration in the way Leeds United did in 2007. The Yorkshire club's assets were bought and transferred to a new company, but its history was not lost.
It added: "We understand it has been strongly rumoured 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."
Club 9 Sports, which has previously attempted to buy a stake in Sheffield Wednesday, added: "We have not met with, spoken to or otherwise been associated with Craig Whyte."
Duff & Phelps will later begin the process of scrutinising the offers, which must involve proof of funds, before declaring their preferred candidate early next week. The Blue Knights consortium, headed by former Ibrox director Paul Murray, and a Singapore-based consortium are confirmed bidders along with a so-far unnamed interested party.
Brian Kennedy, the Scots-born owner of the Sale Sharks rugby team, is also expected to make an improved offer. His first bid was not high enough.
Administrator David Whitehouse said: "We are in negotiation with five serious parties. We expect to get bids from at least four of those.
"Immediately after Easter, we would hope to be in a position to make some proper announcements in terms of exit strategies."
The administrators have tried to keep open a route to European football next season in an attempt to make the club more attractive to buyers.
However, it still seems highly unlikely, as Rangers do not meet two of the conditions of Uefa's club licence.
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