• Bid likely to receive lukewarm reception from Rangers support
• Offer does not require immediate transfer of Whyte's 85%
The American businessman Bill Miller has been named by Rangers' administrators as the preferred bidder for the club.
Miller has already gone public with his controversial £11.2m plan under which Rangers would have to seek dispensation to continue in the Scottish Premier League. Miller stated last month that he would seek written guarantees from Scotland's football authorities of no further on-field punishments for Rangers before proceeding with his deal.
Miller wants to form a new company to run Rangers while the old business goes through what he regards as the lengthy process of exiting administration. He would then merge the businesses at a later date.
Crucially, the offer does not require the immediate transfer of Craig Whyte's 85% shareholding in Rangers. Despite earlier and hopeful assertions by the administrators, Duff & Phelps, to the contrary, Whyte has displayed no willingness to readily part with that stake, a matter that swung things in Miller's favour.
Yet the American's bid is likely to receive a lukewarm reception from the Rangers support – who had backed the Blue Knights consortium – and cause political ructions within the SPL. The Blue Knights, working in conjunction with the Sale Sharks owner, Brian Kennedy, were urged by administrators at the weekend to up their cash offer for Rangers in order that creditors could be satisfied sufficiently to accept a company voluntary arrangement. Unlike Miller, the Blue Knights sought Whyte's shareholding.
SPL clubs are due to meet on Monday to decide whether or not to accept penalties suggested for clubs looking to remain in the league as a "newco". The suggested sanctions are of a 10-point deduction for two seasons and the removal of 75% of commercial revenue for three.
Clubs must, however, decide whether the commercial value of Rangers to the league would override damage done to the competition's reputation and integrity if a newco was permitted to form a part of it. Read More
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