By Graham Barnstaple
April 20 2012

It’s one bid in, one bid out as the “battle” to own Rangers continues, with Singapore based Bill Ng the latest to pull out.

Ng has pulled out today stating concerns about the whole process, as he explained today "Recent developments in the bidding process, with unwarranted and unexplained delays, have prompted our withdrawal from the process.”

There was a concern Duff and Phelps couldn’t deliver on the shares of the club to allow them to exit administration via a CVA. This must register a touch of panic in the hearts of Rangers fans, as the alternative could be liquidation.

This week we have seen the Blue Knights consortium pull out, Brian Kennedy of Sale Sharks try to come back in and now Ng pulls out. Kennedy’s verbal bid was thrown out last night, leaving, at the moment only one bid on the table, from American investor Bill Miller.

Although the Blue Knights could still come back in if they can agree a deal with Ticketus, given they were talking to Ng in recent times, they may have no where else to go.

At today’s press conference ahead of tomorrow’s game with Hearts football boss Ally McCoist expressed his concern about the way things are going. He can’t make plans for next season, and also believes if the situation is not sorted out by the end of next month he fears a slip into liquidation.

This may be the only way out, as Miller has said that is his preferred way out of the situation, and that brings up a whole new argument on where the Newco enter the League structure.

Finally, this brings all sorts of criticism of the role of the administrator in all of this. They have now asked for final and “unconditional bids”. This would appear to put many off, as I am sure the conditions will be around the Big Tax case which has still to be resolved.

As George Lucas would say, the Saga continues……