Thursday, March 28, 2024

Miller closes on Rangers takeover

SoccerNews in Scottish Premier League 3 May 2012

107 Views

Rangers administrators have confirmed that they have accepted a takeover bid ‘in principle’ from American businessman Bill Miller.

The tycoon, who made his fortune through his tow-truck company Miller Industries, has been listed as the preferred bidder ahead of the offer made by The Blue Knights consortium, with a target of completion set for the end of the season.

The news will come as a relief to the Glasgow club, who have racked up over 130 million pounds in unpaid bills and are threatened with liquidation after 140 years in existence.

Speaking at Ibrox on Thursday, administrators Duff & Phelps told reporters: “We would like to thank all parties for their efforts in seeking to submit bids which preserve the long history and success of the club.

“We are delighted to announce that today we have received an unconditional bid for the business and assets of Rangers Football Club plc from Mr Bill Miller which has been accepted in principle and he is now the preferred bidder.

“Mr Miller now proposes to complete his transaction by the end of the season.”

Rangers had been deducted 10 points in the Scottish Premier League after falling into administration, and are currently appealing against a 12-month transfer embargo imposed on them last month.

ABOUT THE AUTHOR

SoccerNews

Soccernews.com is news blog for soccer with comprehensive coverage of all the major leagues in Europe, as well as MLS in the United States. In addition we offer breaking news for transfers and transfer rumors, ticket sales, betting tips and offers, match previews, and in-depth editorials.

You can follow us on Facebook: Facebook.com/soccernews.com or Twitter: @soccernewsfeed.

SHARE OR COMMENT ON THIS ARTICLE

WE RECOMMEND

Leave a Reply

Your email address will not be published. Required fields are marked *

This field is required *

Join the conversation!

or Register

Live Scores

advertisement

Betting Guide Advertisement

advertisement

Become a Writer
More More
Top