4 May 2012

US businessman favourite to buy Rangers

6:40 am on 4 May 2012

The future of the Scottish football club Rangers is closer to resolution folllowing the naming of the US businessman Bill Miller as the preferred bidder by the club's administrators.

Tow-truck tycoon Miller is now in pole position to secure a takeover after outlining last month his plans for an 11.2 million pounds bid for Rangers which would involve setting up an "incubator" company, while the administrators steer the club back into normal business.

Administrators were called in to Rangers on February 14 after British tax authorities went to court to seek payment of an unpaid bill that had built up over nine months.