By Graham Barnstaple
May 3 2012
Is the end of the Rangers financial saga coming to an end, as American business tycoon Bill Miller is give preferred bidder status.
After weeks of speculation the news was confirmed this afternoon with Miller trumping the fans favourites the Blue Knights. Even last night at Ibrox stating they did not welcome American ownership, therefore it will be interesting to see the reaction of the Gers fans this afternoon.
Will it be the same reaction when Craig Whyte took over when he was feted as the saviour of the club, and defended at all costs?
Miller has said in statement this afternoon that the club will hold on to its history and not go into liquidation. Later the administrators have said no liquidation can’t be guaranteed.
It would also appear a deal has been done to keep them in the SPL next season, which will upset the fans of many of the other SPL and SFL sides. It would smack of making a special case for Rangers rather than them being treated in the same manner as Dundee, Livingston orGretna.
I must admit I don’t fully understand the detail of the Miller deal which moves the assets from one company to another and leaves the debt behind. This sounds like liquidation by any other name to me but I am no expert.
He is at least saying he will make sure Rangers will be run with fiscal discipline, not exactly rocket science, as this is the way any business should be run.
At least it is time for the story to move on but we have to wait to see what happens come the end of the month when the player’s salaries are due to return to 100%. How many will be released, and how many will be sold as soon as the transfer window opens.