Brian Kennedy is ready to lodge a last gasp bid to save Rangers from liquidation.
The high profile Hibs fan was believed to have withdrawn his bid for the stricken club last week but has now claimed that ‘the prospect of a newco frightens the living hell out of me.
Yesterday Duff and Phelps, administrators of Rangers, suggested that a hybrid liquidation would be relatively painless and allow a newco to carry on with only sanctions from within football to worry about.
Talks have already opened with the SFA, SPL and UEFA about that scenario but Kennedy is far from convinced that Rangers can survive liquidation virtually unscathed.
“The prospect of a newco frightens the living hell out of me,” he told the Daily Record.
“Whatever euphemism you may want to use, we are ultimately talking about the liquidation of Rangers FC and the selling of its assets into a newco, with all the issues which result from that.
“If this is the only option left standing, that’s when I will come back in.
“The financial model involved in a newco situation does not work unless you are prepared to invest many millions of pounds and take a four-year view on the club’s finances. You would need to accept losing excessive amounts of money.
“These guys ( the two foreign consortiums) will be looking for a decent return. They are not doing it for the love of Rangers so why enter into a deal like this?
“The existence of the club is at stake and the next 48 hours could be crucial.”
Paul Murray heads up the Blue Knights consortium bidding for Rangers with the other offers likely to come from Group 9 Sports from Chicago and a mystery consortium from Singapore.
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for a so called hibs fan, he is helluva fond of the huns.