Administrators for crisis-hit Scottish giants Rangers have accepted an offer from a consortium headed by former Sheffield United chief executive Charles Green, it was announced Sunday.
Duff and Phelps, who were given the task of getting the 140-year-old club back on the rails after it entered administration in February, said: "We are very pleased to announce that we have accepted an offer from a consortium headed by Mr Charles Green for the purchase of Rangers Football Club.
"Mr Green has secured, via a substantial financial commitment, a period of exclusivity to complete the purchase of the Club and this is expected to be finalised at a creditors' meeting on June 6. "The structure and quantum of the offer from Mr Green is such that it is acceptable to us as administrators and, having been in discussions with major creditors throughout the process, we believe this presents the best prospect of financial recovery for creditors."
News of the takeover was made public just hours before Rangers' final Scottish Premier League (SPL) game of the season, with Green saying: "I am delighted our proposal to purchase Rangers has been accepted and we are working night and day to finalise matters. "This is a great football club with a tremendous history and we will preserve that while building a solid platform for the future."
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