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Brian Kennedy latest bid is not acceptable

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Chris McLaughlin ‏ @BBCchrismclaug

#Rangers administrators say they have told Brian Kennedy his latest verbal offer is not capable of acceptance. More to follow #BBCSport

Rangers: Administrators say Brian Kennedy verbal offer is invalid

Rangers' administrators Duff & Phelps say Brian Kennedy's revised verbal offer to take control of the club "would not be capable of acceptance".

A Duff & Phelps spokesman said: "We are surprised by the coverage surrounding a revised bid by Brian Kennedy.

"We have not received a written revised offer and [have] informed Mr Kennedy."

The Sale Sharks owner, who had an earlier bid rejected , said on Wednesday he had made an "improved offer" after holding informal talks with the firm.

He had previously indicated he would not return to the bidding process whilst Paul Murray's group remained in the frame.

However, Murray's Blue Knights have stepped back from the process as two other bids remain on the table .

These are from American Bill Miller and a Singapore group led by Bill Ng.

The Blue Knights, with Ticketus as a partner, had appeared to be the front-runner to take the club over and they had hoped to be named as preferred bidder on Friday.

They were asked to provide a £500,000 non-refundable deposit for exclusivity and Murray told BBC Scotland that Ticketus was not prepared to provide this cash for the administrators.

And he added it had become clear Ticketus had agreed a "substantially" better deal with Ng's group of investors.

Ng denied any such deal had been reached with the firm that financed Craig Whyte's takeover of Rangers last year, but he remained hopeful that his bid would win.

A spokesman for Ticketus, who have rights to £27m of season ticket revenue at Rangers' Ibrox Stadium for the next three seasons, told the Press Association: "Despite some reports we have been talking to Paul Murray by phone on and off since Monday, we are still talking about a possible joint bid.

"We are also still in discussion with the Singaporean bidders." Both Murray and Ng wish to attempt an exit from administration by way of a company voluntary arrangement, while it is understood Miller's preference is for Rangers to emerge as a "newco" through liquidation.


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Well this, for me, confirms that he will be completely out of the running.

Thanks for the effort Mr. Kennedy, obviously not as interested in saving us from liquidation as you appeared to be 00000042.gif

Bill Ng to be announced PF tomorrow, I hope.

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I doubt verbal offers are capable of acceptance in administration. It could mean many things, from it's verbal and therefore not something we can legal accept (the literal interpretation) to, the bid is nowhere near good enough.

Who knows, you can drive tractors through the administrators comments to the fans.

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If anyone is REALLY serious about buying us this is what they should say - what is the highest bid? When they hear the answer unless they answer anything other than '' I'll beat that by £5m'' they should get to fuck. TBK, NG - this is what you need to do! We all know how bidding works. Put up or shut up.

Anyone that seriously wants us would have done it by now.


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could you expand on this please? I've thought he is going to win this from day 1.

Movement on Miller Ind stock picked up pretty rapidly around the second and third weeks of admin. By my (rough) counts, Miller and Miller II shipped around $5m in stock options over a three week period, and that doesn't include sales to outside parties. Considering Miller Ind is thought to be a pretty safe buy atm, and has rebounded well coming out the recession, leaves a few lingering questions.

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