Debt-ridden Rangers attract buyers from Far East and America

By Andrew Warshaw

March 13 – The administrators running crisis-torn Scottish giants Glasgow Rangers say they have received interest from the Far East and the American continent in buying the debt-ridden 54-time domestic champions.

Last week a deal was reached with the entire playing staff for “substantial wage reductions”, in some cases as much as 75 per cent, in order to save the club from potentially going out of business as administrators Duff and Phelps target savings of £1 million ($1.6 million/€1.2 million) per month.

Now it would appear a deal could be close.

Rangers’ players’ joint administrator Paul Clark (pictured) said: “There is at least one party from the Far East and we’ve had some interest as well from the American continent.

“There’s been a number of meetings over the last few days and more planned.

“We’re talking about Scotland, wider UK and some overseas parties.

“Let’s get them round a table so we know how many parties we’ve got.

“I don’t care how many bidders we end up with, but I want to know who they are, what they are and what their worth is, so then we can have more serious conversations about achieving the end goal, which is to get Rangers under new ownership.”

One of those parties involves former Rangers director Paul Murray (pictured) who is hoping that a consortium known as the Blue Knights can come up with a proposal to buy the club.

Because of the agreed wage cuts, Rangers should now be able to fulfil their remaining fixtures this season even though the club been docked 10 points for going into administration, effectively ending any interest in major honours this season and prompting a likely exodus of players during the summer as a major rebuilding job gets under way.

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