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Blue Knights Withdraw Rangers Bid

Tue 17th Apr 2012 | Clubs Ownership

The Blue Knights consortium led by former Rangers chairman, Paul Murray has announced they are to step back in their bid to take over the club.

A statement issued by Duff and Phelps, administrators of Rangers Football Club, said: "It is disappointing the Blue Knights are withdrawing at this stage, particularly in the view of the fact that last week it was made clear to them and Ticketus that their indicative bid placed them in a strong position.

"We were therefore surprised that their offer to pay an exclusivity fee was withdrawn and although discussions over the exclusivity fee continued over the weekend, no agreement was reached.”

The decision to withdraw their bid comes as a major blow following the delay caused by the Scottish Premier League’s decision to hold a vote on the 30th April to introduce tougher sanctions on clubs in administration.

The Blue Knights were one of three bidders in contention for the Glasgow club, along with bidders from Singapore and the United States. Businessman Bill Ng is fronting the five-man consortium from Singapore, while Georgia-based tycoon Bill Miller is behind the American offer.


"At all stages of the process, The Blue Knights/Ticketus bid has been given the most serious consideration by us as administrators, particularly due to the fact that it was being encouraged by supporters' groups,” the statement continued.

"We are aware that Ticketus has also been, at their own instigation, in parallel discussion with one of the other bidders over the last few weeks and it remains to be seen whether these discussions will be taken forward.

"We can reassure supporters of the Club that we look forward to making an announcement on a preferred bidder later this week, assuming no further hurdles are placed in our path.

"While we as administrators have a statutory duty to look after the interests of creditors and keep the business going, it is of paramount importance that the bid which is taken forward is the best on offer for Rangers Football Club."

Posted by: Aaron Gourley


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