Rangers attract four would-be buyers

Rangers’ administrators have confirmed they received four bids for the club after the deadline passed on Wednesday.

The Glasgow giants have been under pressure in recent months after going into administration but will now hope new owners can be found.

Club administrators Duff and Phelps are refusing to put a timescale on any takeover but believe the aim of new owners before the end of the season is realistic.

“Following our announcement on March 30, that best and final bids for control of Rangers Football Club should be submitted by April 5, I can confirm we have received four bids by close of business today,” read a statement from joint administrator David Whitehouse.

“The bids are structured in various ways but I would describe them as positive and constructive.

“The administration team will now analyse these bids over the forthcoming days and hold discussions with relevant parties to gain further understanding of the details of their bids.

“It will be our intention to accept an offer next week and this will be followed by a period of due diligence and exclusivity.

“At this stage, we cannot be precise in timescale but estimate that an exit from administration before the end of the season is achievable.

“We appreciate the need to conclude this process as quickly as possible.

“It is, however, most important to secure the best possible outcome for creditors, Rangers Football Club and its supporters.”

The Blue Knights – led by former Rangers director Paul Murray – are seen as the fans’ preferred choice to any takeover and the former Ibrox man remains confident that his consortium can push through a deal.

“We are determined to try and save the club in its current form.” Murray told reporters.

“We strongly believe that there is value to be gained from the financial and football benefits that a CVA can deliver that would be immediately lost if the club went into liquidation.

“We are confident in the strength of our bid and the Consortium’s unique ability to rapidly return financial stability to the club with the support of Ticketus.

“As a Rangers fan first and foremost, I want to bring a swift end to the current uncertainties that are clouding the club. Our bid can deliver this.”