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Ng's Sinaporeans deal with Ticketus - Blue Knights stepping aside


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Duff and Phelps, Administrators of Rangers Football Club, issued the following statement.

David Whitehouse, joint administrator, said: "It is disappointing the Blue Knights are withdrawing at this stage, particularly in the view of the fact that last week it was made clear to them and Ticketus that their indicative bid placed them in a strong position.

"We were therefore surprised that their offer to pay an exclusivity fee was withdrawn and although discussions over the exclusivity fee continued over the weekend, no agreement was reached.

"At all stages of the process, The Blue Knights/Ticketus bid has been given the most serious consideration by us as administrators, particularly due to the fact that it was being encouraged by supporters' groups.

"We are aware that Ticketus has also been, at their own instigation, in parallel discussion with one of the other bidders over the last few weeks and it remains to be seen whether these discussions will be taken forward.

"We can reassure supporters of the Club that we look forward to making an announcement on a preferred bidder later this week, assuming no further hurdles are placed in our path.

"While we as administrators have a statutory duty to look after the interests of creditors and keep the business going, it is of paramount importance that the bid which is taken forward is the best on offer for Rangers Football Club.

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