Duff and Phelps have delayed the decision on which group to select to rescue Rangers until the SPL votes on new resolutions covering administration and liquidation.
The proposed resolutions will make it more attractive to reform as a newco than attempt to produce a CVA and come out of administration.
Three different offers are on the table for Duff and Phelps to consider but after nine weeks in administration the club will have to wait a further three weeks before planning their next move.
A statement on the Rangers website relating to an announcement on which is the preferred bid states: “Regrettably, this is not now possible as we were informed over the Easter holiday period that the SPL is proposing to consider at a general meeting on April 30, significant rule changes in relation to clubs which find themselves in an insolvency situation.
“The effect of such revised measures being considered at this juncture is that we, as administrators are duty bound to inform those parties who have submitted bids of the proposed resolutions the SPL intends to consider.
“Failure to do so would constitute material non-disclosure on our part, which is a serious matter.
“Inevitably, bidders are now considering this information and will have to take a view as to whether it will affect their individual bids as they now stand. The result is a delay in the sale process.
“We hope to receive feedback from bidders as soon as possible in order for us to take the sale process forward as quickly as we can.
“We fully respect the right of the SPL to review its own rules and regulations and will not comment on the detail of what is being proposed for the meeting on April 30 at this stage.
“However, the fact that such measures are being considered at such a sensitive point in the sale process at Rangers is disruptive and regrettable. We hope to issue a further update by the end of this week.”
CLICK HERE for Rod Stewart celebrates Celtic’s title success
CLICK HERE for CHAMPIONS GALLERY
Follow Video Celts on Twitter, Facebook and YouTube
I’m no very clever…but I see this as a blatant invitation to Rankers to go into liquidation …
and come straight back into SPL….
someone who knows better may wish to correct me??
Stinks as far as I’m concerned…
But then…I’m paranoid….
looks like it, the club and fans that knows no shame will saunter straight back into spl with a minimum penalty of 10 points.
it’s simply ‘managing’ their problem for them whilst appearing to play fair – my arse.
alex thommo @ Ch 4 news is, apparently on to UEFA about this… heres hoping they get stuck into this because the spl and the rst of the clubs will do everything they can to save the shameless ones… stinks to high heaven.
What a sham, the sooner this all falls under jurisdiction of UEFA the better.
Time to ask questions like:
Are Celtic also exempt from relegation?
Will this affect other clubs credit? Considering the SPL are basically refusing to punish a club that doesn’t pay its debts, will Celtic now find it harder to receive credit?
Will Rangers FC and its support ever have to take responsibilty for anything?
Having read the above and the news on CQN it appears the SFA, SPL and everyone involved in Scottish football are re-drafting the rules to allow Rangers to operate as usual.
They will receive no punishment bar the minimum. This is incredible. They will also be allowed to keep their history. No titles will be taken from them and they will use the same name. All of this is guaranteed.
Why would anyone pay to watch Scottish football again? The game is up. Just let the whole thing die. Celtic should disband in protest.
Officially, the whole thing is worthless. What a joke. Our football is a joke to everyone in the south, can you imagine the fun they will now have with it. You can cheat everyone; tax, NI contributions, 16 other clubs and the window cleaner. Go bust and then just continue as if nothing has happened.
If Celtic spend any less than 60 million in the transfer market during the close season then why would anyone pay 25-30 quid to get in to see them? Why pay lots of your hard earned money to see players who are not top quality when you know that your club will not be punished for going bust? It makes no sense. Spend, spend, spend do 10 in a row and then fold. It’s not worth a s**t anyway.
UEFA will be watchin this & will act on this corruption within the Scottish game when they got all the evidence they need to do so. its not gonna be the SFA, SPL or Rangers that suffer,
no no no… it will be every other team tht has worked hard & within the rules of the gameto make the progression into Europe.
If I were the rule maker at UEFA, i wud boot scottish football out of the european game.
wot a shameless bunch of no good rednecks this sack of shte are!
Nopretender…
My worry about UEFA is…
They turned a blind eye to this mob’s blatant anti-Catholic signing policy for more years than I care to remember.
Not sure the Brotherhood isn’t at work again.
I know where your coming from Johnp, but to disband would be giving up all our history, that’s what the bigotdome would love.
Belfast Celtic who were the best team in the league at the time, and who had won numerous league titles,left the Irish League because of bigotry in the North of Ireland and because of serious attacks on their players by Linfield supporters following a match which left two of Belfast Celtic’s players seriously hurt,thus leaving Linfield the dominent force in Irish League football to the present day.
When rankers went into administration I feared the funny handshake bridade would play a big role in saving their bacon, by calling on all their friends within the laptop loyal,SPL,SFA,politicions,even their own appointed administrators, to somehow dig them out of the shit.
The Bhoys are not going away.
Keep the Faith
Who benefits from Duff & Phelps now delaying naming their preferred bidder? Does anyone else feel the timing of this is just a bit too convenient?
Did they have any bidders never mind a buyer.