The American owner of a tow-truck
maker has been chosen to rescue stricken former Scottish champions Rangers after the Glasgow club went into
administration three months ago.
Bill Miller, whose company is based in the southern state of
Tennessee, saw off competition from the Blue Knights, a
consortium led by former Rangers director Paul Murray which
enjoyed the backing of fans' groups.
The decision should mark the beginning of the end of one of
the most turbulent episodes in the 140-year history of Rangers,
who have won the Scottish title a record 54 times.
"We are delighted to announce that today we have received an
unconditional bid for the business and assets of Rangers
Football Club plc from Mr Bill Miller which has been accepted
and he is now the preferred bidder," administrators Duff and
Phelps said in a statement.
"Mr Miller now proposes to complete his transaction by the
end of the season," it added. The season ends this month.
The deal has been structured in such a way that it avoids
Rangers going into liquidation, a process that could have seen
one of the biggest names in British soccer having to start life
all over again at the bottom of the Scottish professional game.
Miller, an unknown quantity to Rangers fans, will have his
work cut out to keep the club at the top in Scotland, where they
and perennial "Old Firm" rivals Celtic have been dominant for
Rangers went into administration more than nine million pounds in unpaid taxes and faced a much larger tax
claim over how they paid their players over the past decade.
In addition, the Scottish football authorities have banned
the club from signing players for 12 months and Premier League
clubs could vote next week to impose additional point deductions
on teams going into administration.
"Mr Miller and his team have sought clarity in relation to
potential footballing sanctions and the place of Rangers
Football Club plc within the Scottish Premier League," Duff and
"Significant progress has been made and discussions will
continue throughout the period which Mr Miller now enjoys as
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