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Scottish Premier League


Ng pulls out at Rangers

The Singapore-based consortium led by Bill Ng had emerged as the likely preferred bidder for Rangers. But now Ng has withdrawn his bid.   He is not satisfied that the Rangers shares can be delivered in a form and time frame that would permit him to pursue his preferred option of taking Rangers out of administration through a company voluntary arrangement.

Blue Knights step back at Rangers

The Blue Knights consortium have looked likely to be named as the preferred bidders for Rangers.   But they have now 'stepped back' from the bidding process and it looks likely that preferred bidder status will go Bill Ng's Singapore-based consortium.

Ticketus were part of the Blue Knights consortium but had been unwilling to contribute to the required £500,000 'exclusivity fee'.   It then emerged that they had been in discussions with the Bill Ng consortium who had made them a substantially better offer.

New SPL rules delay Rangers bid decision

The administrators of Rangers, Duff and Phelps, have had to delay naming a preferred bidder for Rangers after the Scottish Premier League announced proposal new rule changes which will be discussed on April 30th.

Under the proposals harsh additional penalties would be applied to any 'newco' such as might be formed if Rangers was liquidated.   A club in this position would have ten points deducted for the following two seasons and would also have its payments from the SPL slashed by 75 per cent.

Ng's plans for Rangers

Hougang United chairman Bill Ng has emerged as one of the key figures behind the Singapore bid to take over Rangers.   He is a director at private equity firm Financial Frontiers and has been a Rangers fan for more than a decade.    He took over Hougang United two years ago.

Rangers debts total £134m

Administrators Duff and Phelps have estimated the potential total debts of Rangers at £134m.   This includes £93m owed to Revenue & Customs, although that sum would reduce substantially if the tax tribunal ruling on employee benefit schemes found in the club's favour.   The next biggest debt is to Ticketus who are owed £26.7m, although they are part of the Blue Knights consortium.   £2.3m is owed to twelve football clubs with Hearts owed the biggest amount (£800,000).

Rangers should escape liquidation

It is looking increasingly likely that Rangers will be able to escape liquidation and come out of administration by the end of the season through a company voluntary arrangement rather than through the formation of a 'newco'.

Four bids were submitted by the deadline yesterday evening.   Former Rangers director Paul Murray's Blue Knights consortium is joined by bids from Germany, the United States and Singapore.   Sale Sharks owner Paul Kennedy said that he would only bid if he thought the winner would put the club into liquidation.

One in five clubs in poor financial health

One in five clubs in the English Football League is in 'poor financial health' according to a survey by administrators Begbies Traynor.   Of 68 teams surveyed in the three divisions of the Football League, 13 have signs of distress such as serious court actions against them, including winding-up petitions, late filing of accounts and 'serious' negative balances on their balance sheets.

Four bidders for Rangers

Duff & Phelps, the administrators running Rangers, have confirmed that a fourth bid has been received for the club.   Some mystery surrounds this fourth bid.   Some reports suggest that it comes from a Middle East consortium, but others think it is a UK based bid.

Hearts slams players who won't leave

Hearts have slammed fringe players who won't turn in their contracts to ease the club's financial position. In a statement the club said that they preferred to take the club's money 'while offering very little or nothing in return.'

Plenty of interest in Rangers

At least five bidders have emerged to take Rangers out of administration.    In pole position are the Blue Knights consortium fronted by former director Paul Murray.   Scots businessman Brian Kennedy, although claiming to be a reluctant bidder, has garnered some impressive support.