McCoist: Time running out for Rangers

Manager Ally McCoist believes Rangers must find a solution to their financial problems before the end of May amid fears of liquidation for the administration-hit club.

American businessman Bill Miller yesterday unveiled plans for an £11.2 million bid (€13.6m) which would create what he described as an “incubator” company while Duff and Phelps aim to take the club out of administration through a Company Voluntary Arrangement.

The towing tycoon is technically the only bidder still in the running after Bill Ng’s Singapore consortium announced their withdrawal, while a new offer from Sale Sharks owner Brian Kennedy was rejected by administrators this week.

Paul Murray’s Blue Knights took a step back from the bidding process on Monday, although they have since indicated they could return to the table.

As far as McCoist is concerned, time is running out for the stricken Glasgow giants to find a resolution.

He said: “It’s only my opinion but I don’t think we can afford to wait until anything like the end of May. That’s just my opinion, it’s not what I’ve been told.”

Players and coaching staff last month agreed wage cuts of up to 75% until the end of the season in a bid to avoid widespread redundancies but McCoist does not believe an extension to those cuts is a viable option.

He said: “I don’t think that would happen. I think something else would happen before that.”

Asked if that would mean serious cuts or potential liquidation, he added: “I don’t like to deal in guess-work but you would probably be dealing in the latter I would think.”

On Miller, McCoist said: “I had two conversations about 10 days ago and both were very positive.

“It’s not up to me to have a preferred bidder. I have to remain completely open-minded about it.

“The only thing that I wish for is somebody who has the club’s best interests at heart to take it over.

“I would have no problem with anybody that I’ve spoken to taking it over because I do believe they have the club’s best interests at heart.”

Meanwhile, assistant Celtic manager Johan Mjallby believes Neil Lennon is doing a great job for the Bhoys and claims simple frustration has led to the Parkhead manager’s recent conflict with officials.

Asked if his former Celtic team mate should change his conduct the big Swede retorted: “No. I think he is doing a great job for the club.

“It is not really my place to speak for Neil but I don’t really have a problem with officials, I’m not too sure Neil has got a problem with officials.

“But you are always entitled to react as a manager because it is his job to protect the team and the players.

“I would say so (it is down to frustration) there is always a danger of saying something about what you are not too happy about straight after games.

“A lot of times what Neil has been doing or saying has been blown out of proportion.’’