'Substantial' joint takeover bid gives Rangers hope

 

Two of the groups interested in taking over Rangers have joined forces to submit a "substantial" bid that could mean an end to the long-running crisis at that Ibrox giants.

The Blue Kights, headed by the former Rangers director Paul Murray, have teamed up with Brian Kennedy, the owner of the Sale Sharks rugby union team and yesterday at 3pm formally submitted their bid to the club's administrators Duff and Phelps.

The offer is conditional on a company voluntary agreement being reached with creditors and the purchase of the shares of the club's current owner Craig Whyte. But in a joint statement Murray and Kennedy stressed their eagerness to get things moving by adding: "We hope this is accepted so we can proceed with due diligence forthwith and make a start to the task of rebuilding Rangers Football Club of 1872."

It is understood that the Rangers manager Ally McCoist, who is preparing his side for a daunting Old Firm derby at Parkhead tomorrow, has been told by the club's administrators that they are close to striking a deal with a potential buyer, though no group has yet been specified.

Hopes of a takeover of the Premier League club were looking less and less likely of late. Kennedy had an initial bid rejected and was told that his most recent verbal offer was not acceptable. Meanwhile, the Blue Knights' hopes of taking over were hit when one of the creditors, Ticketus, pulled out of their joint takeover bid.

This week McCoist has even been talking of the club going into liquidation and a new company being formed with, the new club having to start again in the Scottish Third Division. This followed the imposition by the Scottish Football Association of a £160,000 fine on the club and a 12-month embargo on registering players over 17.

The club are currently appealing against the sanctions and Rangers supporters groups have discussed a boycott of SFA sponsors. Supporters are also planning to march on Hampden Park this weekend to press home their opposition to the fine and ban.

If the sanctions remain in place, the former Rangers manager Walter Smith has warned that Rangers could face relegation from the SPL, especially if a number of current players leave the cash-strapped club in the summer. McCoist agreed with his predecessor, saying: "I think it's a distinct possibility, absolutely. There is a big fear. The effect of the ban, for me, has far greater ramifications than a lot of people think.

"You would look at it and think 'well, they can't sign players for 12 months'. But there is a far bigger picture than that. It could kill our football club."

Suggested Topics
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
SPONSORED FEATURES
Independent Dating
and  

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

Career Services

Day In a Page

The long walk west: they fled war in Syria, only to get held up in Hungary – now hundreds of refugees have set off on foot for Austria

They fled war in Syria...

...only to get stuck and sidetracked in Hungary
From The Prisoner to Mad Men, elaborate title sequences are one of the keys to a great TV series

Title sequences: From The Prisoner to Mad Men

Elaborate title sequences are one of the keys to a great TV series. But why does the art form have such a chequered history?
Giorgio Armani Beauty's fabric-inspired foundations: Get back to basics this autumn

Giorgio Armani Beauty's foundations

Sumptuous fabrics meet luscious cosmetics for this elegant look
From stowaways to Operation Stack: Life in a transcontinental lorry cab

Life from the inside of a trucker's cab

From stowaways to Operation Stack, it's a challenging time to be a trucker heading to and from the Continent
Kelis interview: The songwriter and sauce-maker on cooking for Pharrell and crying over potatoes

Kelis interview

The singer and sauce-maker on cooking for Pharrell
Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
Lady Chatterley's Lover: Racy underwear for fans of DH Lawrence's equally racy tome

Fashion: Ooh, Lady Chatterley!

Take inspiration from DH Lawrence's racy tome with equally racy underwear
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Charlie Austin: Queens Park Rangers striker says ‘If the move is not right, I’m not going’

Charlie Austin: ‘If the move is not right, I’m not going’

After hitting 18 goals in the Premier League last season, the QPR striker was the great non-deal of transfer deadline day. But he says he'd preferred another shot at promotion
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea