9 May 2012

US buyer withdraws Rangers offer

6:38 am on 9 May 2012

The saga over the ailing Scottish football giants Rangers has taken another twist following the wthdrawal of a bid by a US businessman tipped to take over the club.

Tow-truck tycoon Bill Miller was named last week as the preferred bidder by the club's administrators.

But Miller says he's withdrawn his bid after carrying out due diligence checks which revealed preliminary analysis of the club's condition was "more optimistic than reality."

He also said that anti-American sentiment had influenced his decision to withdraw from the takeover battle.