Impact of SPL proposals not enough to knock bids for Rangers off the table

Friday 13 April 2012

TWO of the bidders for Rangers have insisted their offers to buy the club remain on the table despite proposed Scottish Premier League changes over sanctions on clubs that go into administration or are liquidated.

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Martin Williams and Hugh MacDonald

American Bill Miller and Bill Ng, who is leading a Singapore consortium, both yesterday indicated their continued readiness to take over Rangers after Duff & Phelps, the club's administrators, said on Wednesday they were forced to delay announcing a preferred bidder as a result of the SPL resolutions.

The proposals will be considered on April 30 and, if passed, would mean tougher sanctions for clubs who go into administration or face the prospect of liquidation. If Rangers are liquidated, a newco would be deducted 10 points for two seasons if accepted straight back into the SPL, and would also face financial penalties in the form of league payments being slashed by 75% for three seasons.The administrators are highly unlikely to name a preferred bidder today but hopes remain that an announcement can be made next week.Miller remains a contender and told Herald Sport last night: "I can confirm that I have responded to Duff & Phelps that I am in favour of a CVA exit from administration. After carefully reading the proposed SPL sanctions, it appears the only penalty that could impact the club is if Duff & Phelps was unable to complete the CVA by the beginning of the season. Consequently, my bid continues to be in place with the administrators."Miller, who is chairman of Miller Industries, the largest manufacturer of towing and recovery equipment in the world, added: "However, in reviewing the proposed sanctions, it is clear that any club going into administration in the future, including Rangers, would be severely penalised. "In my view, this falls in line with the appropriate efforts of the various governing bodies to ensure clubs are operating within their means and not mortgaging the future with excessive debt."I hope the Rangers representative at the SPL meeting votes in favour of all of the proposals as I believe they are in the best interest of the league and its members – including the Rangers."Ng told BBC Scotland: "My bottom line is to ensure Rangers' continued survival. We stand by what we promised. A change of rules does affect the finances of the club, but it does not affect our passion. It is better to know the changes early than to get surprises after we have done our budget."Meanwhile, the Rangers Supporters Trust (RST) have threatened to call for a boycott of away fixtures next season as a result of the SPL proposals, which the fans' group believe would result in "excessive and draconian penalties" if passed.

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Impact of SPL proposals not enough to knock bids for Rangers off the table

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