18 Apr 2012

Singaporean group set for Rangers takeover

9:18 am on 18 April 2012

A Singapore-based consortium has moved a step closer to a takeover of the ailing Scottish soccer giants Rangers, following the withdrawal of a rival group bidding for the club.

A group called the Blue Knights, fronted by a former Rangers director Paul Murray, says it couldn't match the terms of a deal agreed by the Singapore consortium and investment firm Ticketus.

The head of the Singapore group, Bill Ng, a lifelong Rangers fan, announced last week his consortium had bid nearly 40-million dollars for the club, which went into administration in February owing more than 17 million dollars in unpaid tax.