US businessman granted preferred bidder status by Rangers administrators

American businessman Bill Miller is nearing a takeover of Rangers after being granted preferred bidder status by administrators Duff and Phelps.

The tow truck tycoon was vying for control with the Blue Knights consortium led by former Rangers director Paul Murray and backed by Sale Sharks owner Brian Kennedy and now appears to have won the race to succeed Craig Whyte as owner.

Miller last month unveiled plans for an £11.2m bid for Rangers which would create what he described as an “incubator” company while Duff and Phelps bid to take the club out of administration through a Creditors Voluntary Arrangement.