Ticketus keep options open
Singapore-based group optimistic regarding takeover
Last Updated: April 17, 2012 2:18pm
Ticketus are keeping their options open as the bidding process intensifies
Ticketus remain happy to work with Paul Murray despite the former Rangers director announcing his Blue Knights consortium were taking a step back from the race to buy the club.
On Monday night Murray announced they were leaving the coast clear for Bill Ng's Singaporean group to complete a deal with administrators Duff and Phelps.
Murray took the decision after revealing his group were unable to match the offer Ng made to Ticketus, whose contract with the club gives them the right to £27million of season tickets over the next three years.
However, a spokesman for Ticketus said: "Discussions with both bids are ongoing and ultimately we are prepared to work with whichever bid the administrators think is best for the club."
It is understood Ticketus remain happy with the proposals on offer from the Blue Knights, which would see them recoup £10million of their money over a longer time period in return for helping to finance the deal.
The investment firm are also willing to work with Ng, who got in touch with the group because they are currently the biggest creditor, although Her Majesty's Revenue and Customs could be owed more should a tax tribunal go against Rangers.
Rather than be the deal-makers, Ticketus feel it is up to the administrators to decide who the preferred bidder is and they will react accordingly.
Ng, head of the five-man Singapore-based consortium, has expressed cautious optimism that his bid to take ownership of the club will be successful.
"The apparent withdrawal from the bidding process by the Blue Knights means only that the chances of taking over increases for the two remaining bidders left in the process," said Ng, who is chairman of Singapore football club Hougang United.
"We cannot comment on the chances of us taking over Rangers as there are various factors being considered by the administrators."
Another bidder, US businessman Bill Miller, remains in contention and Ng says he is unaware of the details of Miller's offer for the club.
"I only know what I can do and what my plans are for the club, if I am successful," he said.
"I believe it is more important for me to stay focused at this point of time and prepare for our ground works, regardless of the result of the announcement by the administrators."
Ng, a director with a private equity firm, said last week his consortium had placed a £20million bid and said his move was motivated mainly by love for the 140-year-old club.
Meanwhile, Sale Sharks owner Brian Kennedy has declared himself ready to re-enter the race should a deal that includes a CVA fall through.