Brian Kennedy back in the frame for Rangers takeover

 

The interminable saga surrounding the proposed takeover of Rangers took another twist last night when Brian Kennedy put himself back in the frame.

The Sale Sharks owner saw a previous bid rejected last month for being too low but said at that time he would return to the table if he felt the club's future was in jeopardy and yesterday he contacted administrators Duff and Phelps.

Kennedy confirmed he had made the new "substantially improved" offer in this morning's Scottish Sun where he also urged administrators to make a decision soon.

"I have made a substantially improved verbal offer and am waiting for the administrators to come back to me," he said.

"Whether they go the Paul Murray and Ticketus route or my way, I would implore them to act swiftly.

"We're both coming at it from exactly the same angle. We both have Rangers at heart, we're both Scottish, both live here and both know what's best for the club. We've got responsibility, we've got accountability.

"Whether it's Paul or me I don't mind, I just want this to be sorted - and sorted soon."

American tycoon Bill Miller and Bill Ng, a Singaporean businessman, are rival bidders while former Rangers director Paul Murray's Blue Knights consortium, originally backed by Kennedy, have stepped aside to help facilitate what they hope will be a quick deal with any of the other bidders in order to save the club from liquidation.

However, despite "intensive discussions" taking place last night the takeover saga shows no signs of reaching a conclusion any time soon with Duff and Phelps frustrated in their attempts to get an unconditional bid on the table.

While it is not yet quite clear what Edinburgh-born Kennedy is offering, it is believed some of the conditions attached to bids from Miller and Ng cannot be fulfilled or guaranteed by the administrators who are continuing to work towards a resolution.

The apparent impasse is not good news for Rangers fans or manager Ally McCoist who on Tuesday called for the administrators to name a preferred bidder as soon as possible after expressing concerns over the protracted nature of the bidding process.

The source said: "The administrators are acutely aware of the desire to get a deal done as soon as possible.

"They want to accept unconditional offers but all bids have conditions and some of them can't be fulfilled by administrators."

It is believed one of those conditions involves Ticketus, the London-based investment firm whose money allowed Craig Whyte to buy the club from Sir David Murray last May.

Ticketus, who have rights to £27million of season tickets at Ibrox for the next three seasons, confirmed they are still speaking to the Blue Knights and Ng, but will leave it to the administrators to chose the preferred bidder.

A spokesman for Ticketus told Press Association Sport: "Despite some reports (to the contrary) we have been talking to Paul Murray by phone on and off since Monday, we are still talking about a possible joint bid.

"We are also still in discussion with the Singaporean bidders."

Murray revealed the Blue Knights are ready to re-enter the race for Rangers in light of "lack of activity" in the bidding process over the last couple of days.

He told the Daily Record: "On Monday I made it clear that, in the best interests of the club, the Blue Knights were prepared to take a step back from this process.

"We did so because we did not want to further delay the absolutely crucial task of selecting a preferred bidder.

"But we also made it clear our offer was still on the table.

"Now, in the light of the lack of activity over the subsequent 48 hours, I am reconsidering our position.

"This situation has to be resolved with maximum urgency as we are now heading beyond the point of no return.

"I have discussed things in great detail with Brian over the course of today (Wednesday) and we are in total agreement as regards the absolute urgency of the situation."

PA

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services

Day In a Page

Fifa corruption: The 161-page dossier that exposes the organisation's dark heart

The 161-page dossier that exposes Fifa's dark heart

How did a group of corrupt officials turn football’s governing body into what was, in essence, a criminal enterprise? Chris Green and David Connett reveal all
Mediterranean migrant crisis: 'If Europe thinks bombing boats will stop smuggling, it will not. We will defend ourselves,' says Tripoli PM

Exclusive interview with Tripoli PM Khalifa al-Ghweil

'If Europe thinks bombing boats will stop smuggling, it will not. We will defend ourselves'
Raymond Chandler's Los Angeles: How the author foretold the Californian water crisis

Raymond Chandler's Los Angeles

How the author foretold the Californian water crisis
Chinese artist who posted funny image of President Xi Jinping facing five years in prison as authorities crackdown on dissent in the arts

Art attack

Chinese artist who posted funny image of President Xi Jinping facing five years in prison
Marc Jacobs is putting Cher in the limelight as the face of his latest campaign

Cher is the new face of Marc Jacobs

Alexander Fury explains why designers are turning to august stars to front their lines
Parents of six-year-old who beat leukaemia plan to climb Ben Nevis for cancer charity

'I'm climbing Ben Nevis for my daughter'

Karen Attwood's young daughter Yasmin beat cancer. Now her family is about to take on a new challenge - scaling Ben Nevis to help other children
10 best wedding gift ideas

It's that time of year again... 10 best wedding gift ideas

Forget that fancy toaster, we've gone off-list to find memorable gifts that will last a lifetime
Paul Scholes column: With the Premier League over for another year, here are my end of season awards

Paul Scholes column

With the Premier League over for another year, here are my end of season awards
Heysel disaster 30th anniversary: Liverpool have seen too much tragedy to forget fateful day in Belgium

Liverpool have seen too much tragedy to forget Heysel

Thirty years ago, 39 fans waiting to watch a European Cup final died as a result of a fatal cocktail of circumstances. Ian Herbert looks at how a club dealt with this tragedy
Amir Khan vs Chris Algieri: Khan’s audition for Floyd Mayweather may turn into a no-win situation, says Frank Warren

Khan’s audition for Mayweather may turn into a no-win situation

The Bolton fighter could be damned if he dazzles and damned if he doesn’t against Algieri, the man last seen being decked six times by Pacquiao, says Frank Warren
Blundering Tony Blair quits as Middle East peace envoy – only Israel will miss him

Blundering Blair quits as Middle East peace envoy – only Israel will miss him

For Arabs – and for Britons who lost their loved ones in his shambolic war in Iraq – his appointment was an insult, says Robert Fisk
Fifa corruption arrests: All hail the Feds for riding to football's rescue

Fifa corruption arrests

All hail the Feds for riding to football's rescue, says Ian Herbert
Isis in Syria: The Kurdish enclave still resisting the tyranny of President Assad and militant fighters

The Kurdish enclave still resisting the tyranny of Assad and Isis

In Syrian Kurdish cantons along the Turkish border, the progressive aims of the 2011 uprising are being enacted despite the war. Patrick Cockburn returns to Amuda
How I survived Cambodia's Killing Fields: Acclaimed surgeon SreyRam Kuy celebrates her mother's determination to escape the US

How I survived Cambodia's Killing Fields

Acclaimed surgeon SreyRam Kuy celebrates her mother's determination to escape to the US
Stephen Mangan interview: From posh buffoon to pregnant dad, the actor has quite a range

How Stephen Mangan got his range

Posh buffoon, hapless writer, pregnant dad - Mangan is certainly a versatile actor