'Light at end of tunnel' for Rangers

Published Thursday, 05 April 2012

Duff and Phelps have continued to stress that an exit from administration by the end of the season is "achievable" for Rangers, as they revealed that three of the four bids for the club will be "considered further".

Rangers FC is continuing to battle against financial woes. (© Getty)

The new statement came 24 hours after administrators confirmed that four bids had been lodged on Wednesday.

"We have had a number of discussions with the interested parties today and have stressed the benefits to them of engaging openly with the club's fanbase," joint administrator David Whitehouse said.

"We can now see light at the end of the tunnel whereby the club can exit from administration and focus upon success on the pitch.

"While we cannot be precise on timescale, exit from administration does look achievable by the end of the season."

He added: "We also hope to announce next week acceptance of one bid, which would then be subject to a period of due diligence and exclusivity."

The companies behind the bids have not been revealed, but it is thought Blue Knights consortium, headed up by former Ibrox director Paul Murray is among those interested.