Bill Miller's decision to withdraw from the bidding process of Rangers after finding more black holes in the accounts has left the club once again on the brink with agreements on player’s wages reductions ending on the 1st June and the CVA option a good six weeks away to set up.
Duff & Phelps have stated that three other parties have entered into negotiations to buy the stricken SPL club. David Whitehouse from Duff & Phelps' said two of three bidders are new to the process, with none contemplating liquidation.
Whitehouse also claims that the UK-based consortium has reached an agreement with owner Craig Whyte over the transfer of his shares which in needed for the CVA to succeed.
Rangers are poised to lose £1m per month when the players revert back to their original wages when their agreement with the administrators comes to an end.
Supporter’s fears liquidation is looming if another bidder does not emerge quickly.