Blue Knights deny newco claim
Rangers bidders confirm their offer is reliant on CVA
Last Updated: May 1, 2012 5:10pm
Brian Kennedy and the Blue Knights have moved to clarify their own position in bid for Rangers
Brian Kennedy and the Blue Knights have stressed that their bid for Rangers is conditional on a Company Voluntary Arrangement being agreed rather than a newco option for the crisis-hit Glasgow club.
Manager Ally McCoist said earlier on Tuesday that he believed both offers submitted to administrators Duff and Phelps were likely to involve a newco situation but that neither bid involved liquidation.
American trucking tycoon Bill Miller is the other interested party, with administrators hoping to name a preferred bidder this week.
Now Kennedy and the Blue Knights have moved to clarify their own position.
A statement from Kennedy's spokesman read: "Following inaccurate media reports, the Blue Knights/Brian Kennedy consortium wishes to clarify its position.
"Firstly, on Saturday evening 28 April 2012, we submitted a materially increased offer which will be confirmed by the administrators, Duff & Phelps.
"Secondly, and for the avoidance of doubt, our offer is conditional on a CVA and the delivery of Craig Whyte's shares.
"If successful, this will retain the SPL membership share in RFC 1899."
Earlier in the day, Rangers boss Ally McCoist urged Duff and Phelps to end the uncertainy by naming their preferred option.