New Rangers deal possible this week say administrators
Rangers' administrators maintain a deal to safeguard the future of the beleaguered club can be concluded by the end of this week.
Duff and Phelps are evaluating three offers for the Glasgow giants after American tycoon Bill Miller withdrew his offer despite being granted preferred bidder status ahead of a rival bid from Brian Kennedy and the Blue Knights consortium.
Two of the three bidders are new to the process, co-administrator David Whitehouse of Duff and Phelps said.
Rangers play their final match of the Clydesdale Bank Premier League season at St Johnstone on Sunday, with Whitehouse optimistic of progress before then.
He told the BBC: "It's certainly possible to get a deal done. I think whether we can say that is likely, we will be in a better position to say that tomorrow lunchtime.
"The structures of deals that are being discussed vary but all are working to a timetable that they have to be completed by the end of the season."
Whitehouse also claimed owner Craig Whyte has also reached an agreement to transfer his shares to a UK-based consortium, a requirement for a Company Voluntary Arrangement.
Miller favoured a 'newco' route to create what he described as an "incubator" company while Duff and Phelps aimed to take the club out of administration through a CVA.
The American businessman described information he received while conducting due diligence as being "more optimistic than reality" and also pointed out opposition to his takeover bid by Rangers fans as reasons for his withdrawal.
Whitehouse maintains the club can recover.
"It entirely depends on what your ambition is for the club in terms of player squad, etc, and how you maintain the club going forward," Whitehouse added.
"If you don't invest heavily in the player squad, and you accept that you're going to compete competitively at simply domestic level over the next 12-24 months, it is quite easy to see a break-even model.
"But to achieve that break-even model, you have to be comfortable that the fans are going to turn up and renew season tickets and you're going to get that core revenue through the gate receipts.
"On a core trading model, there isn't a cash deficit unless you invest in players or unless you assume that there's going to be a deterioration in gate receipts."
Latest in Sport
A tight game could be in prospect here. Northampton have been keeping things very tight of late and ...
by Gareth Purnell
18 May 2013 02:01 AM
I can’t ever watch games of football or rugby without wistfully wondering what it must be like to be...
by Martin Ayres
16 May 2013 05:10 PM
Since PSG’s exit to Barcelona in the Uefa Champions League quarter-final in April, PSG have been sur...
by Matthew Riding
15 May 2013 02:37 PM
Gareth Bale agrees new £130,000-a-week Tottenham contract - but can leave next season for £50m
The Last Word: As David Beckham bows out, spare a thought for the ordinary players facing a crueller end
Arsene Wenger says Arsenal 'need stability and to strengthen in the summer' after qualifying for Champions League
Sam Wallace: The second coming of Jose Mourinho at Chelsea will be a reunion that can only end in tears
James Lawton: When will Arsène Wenger's Arsenal enter the Champions League as anything but a disposable asset?
- 1 The ‘Beverly Hills’ of Surrey pays more income tax than big cities of the North
- 2 Gareth Bale agrees new £130,000-a-week Tottenham contract - but can leave next season for £50m
- 3 'Revenge porn' is no longer a niche activity which victimises only celebrities - the law must intervene
- 4 The moral case on tax avoidance is overwhelming - and we all know Google wants to do the right thing
- 5 Sam Wallace: The second coming of Jose Mourinho at Chelsea will be a reunion that can only end in tears
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Win anything from gadgets to five-star holidays on our competitions and offers page.