Monday, March 26, 2012

Singapore-based consortium to buy Glasgow Rangers?

GLASGOW: A Singapore-based consortium has become the fifth group to lodge a formal takeover bid for Rangers.

The offer, made on Friday, will now be considered by the club's administrators alongside those from rugby club Sale Sharks owner Brian Kennedy, the Blue Knights consortium, Club 9 Sports and an as yet unnamed party.

Representatives of the Chicago-based Club 9 Sports are expected to make a trip for yesterday's derby match between Rangers and Celtic at Ibrox.

Despite Mr Kennedy earlier having made sceptical noises about the likelihood of him gaining control of Rangers, he is already thought to have spent about 200,000 pounds (S$400,400) on his bid.

Mr Paul Clark, Rangers' joint administrator, said: "What we want to do is analyse the bids and I would suggest we will be moving to a shortlist that might be two or three bidders at some point next week."

Mr Clark reaffirmed his desire for Rangers to exit administration promptly. "Our preference would be for somebody else to be in control of the football club other than us by the end of the season," he said.

"So they have got the whole close season, the whole transfer window, they have got proper preparation for the new season."

The administrator expressed frustration with the Scottish Premier League (SPL), which is conducting an investigation into allegations that Rangers have made undisclosed payments to players.

"We have written to the SPL asking why it is necessary at this time to conduct an inquiry," Mr Clark said. "They have known about the issue for some time, we still don't have the (tax) tribunal's decision and we would like to understand why they feel they need the inquiry now."

The identity of the Singapore-based consortium was not made known but speculation that Singapore tycoon Peter Lim, who made a failed bid to buy the English club Liverpool in October 2010 with an offer of 320 million pounds, is in the picture is off the target. -

View the original article here

Source From Channel News Asia

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