Progress made on Gers bids

Rangers’ administrators expect to know today whether a deal can be done to safeguard the future of thebeleaguered club by the end of this week.

Duff and Phelps are evaluating three offers for the Glasgow giants after American tycoon Bill Miller withdrew his offer on Tuesday despite being granted preferred bidder status ahead of a rival bid from Brian Kennedy and the Blue Knights consortium.

Two of the three bidders are new to the process, said co-administrator David Whitehouse of Duff and Phelps, who remains optimistic of progress before Rangers play their final match of the Scottish Premier League season at St Johnstone on Sunday.

Whitehouse did not wish to contemplate failure to find a buyer.

“It would be a pretty bleak picture,” he told the BBC. “But those offers we have on the table and the proposals in place are all capable of being delivered before the end of the season.”

Whitehouse revealed two of the three would-be purchasers have held discussions with Rangers manager Ally McCoist over player requirements and funding for next season.

Two of the three bids are planning a “similar” ‘newco’ offer to Miller’s while a third favours a straight Creditors Voluntary Arrangement, having proved they have a means of securing current owner Craig Whyte’s shares.