Rangers won’t be liquidated

Updated: May 4, 2012

The sorry saga that has been the story of Glasgow Rangers FC took an upturn on Thursday with administrators Duff and Phelps revealing that the club will not now be liquidated after all.

That is because American businessman Bill Miller has made a sufficient offer to take over the club.  The offer looks set to be accepted which means threat of liquidation no longer stands.

Miller has taken control ahead of the Blue Knights Consortium, with the club’s future in doubt ever since entering administration back in February.

“I’d like to announce that today we’ve received an unconditional bid from Mr. Bill Miller which has been accepted and he is now the preferred bidder,” said David Whitehouse, speaking on behalf of Duff and Phelps.

“Mr Miller now proposes to complete the transaction before the end of the season.

“We believe the bid from Mr Miller provides not only the best deliverable outcome but preserves the history of the football club.

“Rangers Football Club will continue as the football club it has been for some 140 years.”

Miller’s bid will also help resolve the issue of the majority shareholding in the club which is controlled by despised former owner Craig Whyte.

Whitehouse continued: “The bid from Mr Miller provides the best framework to deal with the issue of Rangers’ majority shareholding.”

From there Whitehouse concluded his press briefing and refused to offer further insight.

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