Bill Miller has confirmed he is still in the running to take over Rangers and has backed proposed tougher sanctions on clubs that go into administration.
Businessman not put off by SPL proposals
US businessman Bill Miller has confirmed he is still in the running to take over stricken SPL giants Rangers and has backed proposed rule changes that would enforce tougher sanctions on clubs that go into administration.
Miller remains in the running alongside a Singapore-based consortium led by Bill Ng and former Rangers director Paul Murray's Blue Knights consortium.
Administrators Duff and Phelps had hoped to announce their preferred bidder this week but revealed on Wednesday that they were forced to delay the announcement in the wake of proposed SPL resolutions, which will be considered on April 30.
If passed, the proposals will mean tougher sanctions for clubs who go into administration in future or face the prospect of liquidation.
Also, if the Ibrox club are liquidated, a 'newco' would be deducted 10 points for two seasons if accepted straight back into the SPL and they would also see their league payments slashed by 75 per cent for three seasons.
Duff and Phelps were legally obliged to inform the interested parties of these potential changes and there were fears that they may withdraw their offers.
However, Miller has now followed Ng and the Blue Knights consortium in reiterating his determination to press ahead with the bid.
"I have responded to Duff and Phelps that I am in favour of a CVA [company voluntary arrangement] exit from administration," he told the
Scottish Sun.
Penalty
"After carefully reading the proposed SPL sanctions, it appears the only penalty that could impact the club is if Duff and Phelps was unable to complete the CVA by the start of the season.
"Consequently, my bid continues to be in place.
"In reviewing the proposed sanctions, it is clear any club going into administration in the future, including Rangers, would be severely penalised.
"In my view, this falls in line with the appropriate efforts of the various governing bodies to ensure clubs are operating within their means and are not mortgaging the future with excessive debt.
"I hope the Rangers representative at the SPL meeting votes in favour of all of the proposals as I believe they are in the best interest of the league and its members - including Rangers."
Meanwhile, Rangers directors Andrew Ellis and Dave King have approached the administrators demanding that chairman Craig Whyte resigns.
Whyte is under increasing pressure as Rangers' financial problems deepen, though he denies any wrongdoing since taking over the club in May 2011.
"Dave King and I do not want Whyte having any influence. He must resign," Ellis told the
Daily Record.
In response to the duo's claims, a spokesman for Duff and Phelps added: "The powers of all directors are effectively removed when a company goes into administration - unless the administrators decide otherwise.
"We will consider the request of Messrs Ellis and King and, if necessary, will review the position of any or all directors should it be a material issue for the preferred bidder, once that party is selected."
