Glasgow Rangers: four groups bid to buy 'Gers

    2012/04/06

NSFW    What the Foul?

Glasgow Rangers Football Clubs' administrators Duff and Phelps have said that there could be "light at the end of the tunnel" in the fight to save the Scottish giants.

Four bids were registered with the administrators before Wednesday's deadline, although Duff and Phelps have now whittled that down to three — the Blue Knights consortium of former Rangers director Paul Murray, plus two others from Singapore and the US.

The future of the financially troubled club has been in doubt since it entered into administration back in February.

The full extent of Rangers debt crisis was laid bare when after administrators estimated the total debt could be as much as £134 million, including sums owed to around 12 other clubs around Europe.

Fan groups have clubbed together £250,000 and used the cash to pay off some of the Rangers' debt, but they remain wary about the intentions of some of the groups bidding to take control, fearing they would move to liquidate the Rangers' assets.

Who will Duff and Phelps select as the preferred bidder?
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