((HT: SkySports/O'Rourke))
Administrators Duff and Phelps were looking to have new owners for Glasgow Rangers in place by the end of the Scottish Premier League (SPL) season, but by the looks of things one prospective owner is out the door.
And it may mean more follow...
According to Pete O'Rourke over at Sky, Sale Sharks owner Brian Kennedy's bid was shelved last week and is now gone since he wanted D&P to speed up the process.
That leaves four, but it now appears that former Rangers director Paul Murphy's bid might go away since his bid is contingent on current director Craig Whyte being bought out by the winner in the process. Whyte wants no such action done.
Whyte and Murphy have been at odds since Whyte removed Murphy from the Rangers Board when Whyte took over almost a year ago... or, "only" a year ago...
Murphy has made his feelings known about the Whyte share to Duff and Phelps, but won't move forward until the issue is resolved.
Here's what Rangers are having to go up against in Celtic...
Even after adminstration and the likelihood Celtic clinches the SPL title this year...
((HT: SkySports))
FRIDAY UPDATE: Duff and Phelps is asking three bidders for the best offers by Wednesday, but they're the first to admit that they don't have a front-runner...
David Whitehouse, joint administrator from D&P, said on the club's official website:
"The direction from Lord Hodge in the Court of Session in Edinburgh last Friday clarified important issues relating to the status of the arrangement between Ticketus and Rangers Football Club and our powers as administrators in relation to contractual rights.
"This has allowed the bidding process for the Club to move away from the previous uncertainty the issue caused. The direction has also enabled us to have intensive and constructive discussions throughout this week to confirm the levels of interest and the structure of any offers.
"It would be inappropriate for us to comment on the merits of individual bids but, in general, several parties have pursued their declared interest in the Club and five bids submitted have been subject to greater scrutiny.
"We fully understand the desire of supporters to see the bidding process concluded as soon as possible and have asked three bidders to submit best and final offers by Wednesday April 4. It is likely that a successful bidder will require a period of exclusivity to commit to final due diligence thereafter.
"Bids have inevitably been the subject of widespread comment and speculation but at this stage it would be unwise to perceive any particular party to be a preferred bidder, and the bidding process remains open for all parties until April 4."
So, then, the next step is next week...
More when we know more...
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