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.