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Miller still keen on Rangers deal

Fri 13th Apr 2012 | Clubs Ownership

American businessman Bill Miller remains in the running to takeover Rangers and has backed proposed changed to the SPL rules on administration.

Miller, a Singapore-based consortium led by Bill Ng - who on Thursday indicated he has no plans to withdraw his offer - and former Ibrox director Paul Murray's Blue Knights are in the running to take over the Glasgow giants.

Administrators Duff and Phelps said on Wednesday they were forced to delay announcing a preferred bidder as a result of the SPL resolutions, which will be considered on April 30.

If Rangers are liquidated, a 'newco' would be deducted 10 points for two seasons if accepted straight back into the SPL, and would also face financial penalties in the form of league payments being slashed by 75% for three seasons.

Miller has no qualms about the proposed regulations.

"I have responded to Duff and Phelps that I am in favour of a CVA (company voluntary arrangement) exit from administration," he told the Scottish Sun.

"After carefully reading the proposed SPL sanctions, it appears the only penalty that could impact the club is if Duff and Phelps was unable to complete the CVA by the start of the season.

"Consequently, my bid continues to be in place.

"In reviewing the proposed sanctions, it is clear any club going into administration in the future, including Rangers, would be severely penalised.

"In my view, this falls in line with the appropriate efforts of the various governing bodies to ensure clubs are operating within their means and are not mortgaging the future with excessive debt.

"I hope the Rangers representative at the SPL meeting votes in favour of all of the proposals as I believe they are in the best interest of the league and its members - including Rangers."

Meanwhile, directors Andrew Ellis and Dave King have called for the resignation of Rangers chairman Craig Whyte and approached administrators with their demand.

London property developer Ellis and King, a South Africa-based businessman, have contacted Duff and Phelps to call for Whyte to step down.

Ellis told The Daily Record: "Dave King and I do not want Whyte having any influence. He must resign."

Whyte has repeatedly denied any wrongdoing since taking over Rangers last May and since the club was plunged into administration on February 14.

A spokesman for Duff and Phelps, who are in discussions with three parties over a takeover at Ibrox, said: "The powers of all directors are effectively removed when a company goes into administration - unless the administrators decide otherwise.

"We will consider the request of Messrs Ellis and King and, if necessary, will review the position of any or all directors should it be a material issue for the preferred bidder, once that party is selected."

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