Glasgow Rangers have more than 140 years of history, but the past few months may have been the most tumultuous, with the SPL title-defenders staring into the abyss of administration and the imminent uncertainty over possible takeovers.
A £25m bid from a Chicago-based company, if accepted, could see Rangers go into liquidation – an option fans do not support.
Club 9 Sports would want to form a new club, to avoid paying the club’s debts. Such action would lead Rangers to have at three-year ban from all European competitions. In the even more drastic scenario, liquidation could force Rangers back to the start, requiring them to apply to join the Division Three.
The only offer seeing Rangers go into administration came from former Ibrox director Paul Murray. Letting Rangers pay off their debts through the Company Voluntarily Arrangements (CVA).
The American bid is more than double Brian Kennedy’s offer, which was rejected yesterday. The American firm is now the frontrunner for taking over the club.