Rangers takeover: Blue Knights and Brian Kennedy join forces

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RANGERS administrators Duff and Phelps have confirmed they have received two formal bids for the club – one from the Blue Knights and one from Bill Miller.

The Blue Knights, fronted by former Ibrox director Paul Murray, have joined forces with Sale Sharks owner Brian Kennedy and submitted what they described as a “substantial” written offer to purchase the club yesterday.

Their bid is subject to a Company Voluntary Agreement (CVA) being agreed with creditors and the acquisition of current owner Craig Whyte’s shares.

American tycoon Miller has also made his interest in the Glasgow giants official, albeit with conditions relating to sanctions imposed on the club by the football authorities.

David Whitehouse, joint administrator, said: “We can confirm that we are in receipt of two formal bids for control of Rangers Football Club.

“Both bids at this stage remain conditional.

“We are in receipt of a bid from Bill Miller, whose bid is conditional on securing greater comfort and clarity from the football authorities in relation to sanctions against Rangers.

“Brian Kennedy and Paul Murray submitted a bid which is conditional on a CVA being approved by creditors and we will seek guidance from prominent creditors.

“It is also conditional on the acquisition of the shares of Craig Whyte in the football club and we have asked for this and other points in the bid to be clarified.

“We note the statement today issued by Ticketus and its withdrawal as a potential partner for the Blue Knights.

“What should be clarified is that neither bid involves liquidation of the football club.

“We will provide a further update as soon as possible.”

Murray claimed Ticketus could be favourable to a CVA but attempts to secure the shares might have to rely on Whyte’s goodwill.

The former Rangers director told Sky Sports News: “I would certainly hope Craig can see this is in the best interests of the club.

“I like to think he would make one last gesture to help Rangers move forward.”