• SPL

Four bids made for Rangers

April 4, 2012
It's deadline day for Rangers bids © Getty Images
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Rangers' administrators have received four bids for the club after setting a deadline of 5pm Wednesday for best and final offers.

Duff and Phelps described the bids as "positive and constructive'' and hope to accept an offer next week followed by a period of due diligence.

Although reluctant to put a timescale on the process, they believe Rangers could be out of administration by the end of the season.

David Whitehouse, joint administrator, said: "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.

"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.''

Earlier, the Blue Knights consortium and Ticketus confirmed they had submitted a bid for Rangers ahead of the deadline.

The bid from the Blue Knights - fronted by former Ibrox director Paul Murray - and Ticketus is the first to be confirmed as submitted ahead of the deadline.

A statement from Ticketus read: "The Blue Knights Consortium, led by Paul Murray and supported by fans' representatives (from the Rangers Supporters Assembly, the Rangers Supporters Association and the Rangers Supporters Trust) and Ticketus, confirms that it has this morning submitted its best and final bid for the acquisition of Rangers Football Club ahead of today's deadline, as requested by the Administrators.''

© ESPN Sports Media Ltd.
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