10 May 2012

Singapore tycoon back in hunt for fallen Scottish giants Rangers

6:31 pm on 10 May 2012

Singapore tycoon Bill Ng has renewed his bid for Scottish football giants Glasgow Rangers at just half the price he originally offered after what he called a "crazy" twist to the ownership saga.

Ng, who has supported the bankrupt club since boyhood, withdrew his 20 million pound offer last month in frustration at the bidding process.

But the Hougang United chairman is now back in the race after the preferred bidder, US tow-truck magnate Bill Miller, pulled out over concerns about the club's financial position and anti-American vitriol from fans.

British reports say Ng is now competing with two British-based consortiums for the 54-time Scottish champions, who were taken to court over a nine million pound tax bill and then docked 10 points for entering administration.

Rangers were also slapped with a 12-month transfer embargo and fined 160,000 pounds, while controversial former owner Craig Whyte was fined and banned for life from Scottish football.

According to the administrators, Rangers' total debt could amount to 134 million pounds with the venerable club awaiting the outcome of a tax tribunal case that could cost them 75 million pounds.