Four bids for Glasgow Rangers

Four different groups of investors have bid to become the new owners of toiling Scottish champions Rangers.

The Ibrox club went into administration last month due to unmanageable debt, and were docked ten points by the SPL.

However, administrators Duff & Phelps have revealed that four bidding parties will battle it out for the club’s ownership.

“Following our announcement on March 30, that best and final bids for control of Rangers Football Club should be submitted by April 5, I can confirm we have received four bids by close of business today,” joint administrator David Whitehouse told the club’s official website.

“The bids are structured in various ways but I would describe them as positive and constructive.

“The administration team will now analyse these bids over the forthcoming days and hold discussions with relevant parties to gain further understanding of the details of their bids.

“It will be our intention to accept an offer next week and this will be followed by a period of due diligence and exclusivity.

“At this stage, we cannot be precise in timescale but estimate that an exit from administration before the end of the season is achievable.

“We appreciate the need to conclude this process as quickly as possible.

“It is, however, most important to secure the best possible outcome for creditors, Rangers Football Club and its supporters,” he concluded.

By Gareth McKnight