Takeover picture no clearer for Rangers

Chief football writer

Thursday 19 April 2012

RANGERS' administrators were still no closer to announcing a preferred bidder for the club after the latest round of discussions carried late into last night.

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Michael Grant

In another frustrating day for the parties who want to take over the Ibrox club – Singapore businessman Bill Ng, Paul Murray's Blue Knights and the American entrepreneur Bill Miller – no significant progress was made in discussions with administrators Duff & Phelps, who had intended to confer preferred bidder status on one of the parties before the end of this week.

Further talks were also held with Brian Kennedy, who has been a constant if peripheral figure during the takeover discussions, although the Sale Sharks owner essentially repeated his intention to submit an offer if it seemed as though the club's existence would be jeopardised.Although the Blue Knights had said they would step back from the takeover process after the London-based agency Ticketus appeared to prefer a partnership deal with Ng's consortium – which has offered more money up front for Rangers – there were talks between Murray and joint administrator Paul Clark yesterday. Ticketus have still to commit in writing to a deal with either Ng's consortium or the Blue Knights, to the frustration of all. Ticketus have contractual rights to £27m-worth of Rangers' season tickets over the next three years but, if they become business partners with either Ng or the Blue Knights, their debt would be removed from the creditors' pot, which would make a Company Voluntary Arrangement (CVA) more realistic for Rangers and reduce the likelihood of liquidation.Analysis. Pages 2, 3

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Takeover picture no clearer for Rangers

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