By Graham Barnstaple
April 23 2012

Despite another deadline being set for today the Rangers’ administrators have said there will be no preferred bidder announced today.

Duff and Phelps have announced today there will be no decision on a preferred bidder for Rangers today, despite setting this as the deadline for bids. Once again a deadline has been missed or put back, in what seems to be the most indecisive financial management you could imagine.

The reason for the latest delay would appear to be because there is no “deliverable” bid according to the BBC website. The administrators are looking for unconditional bids and the two bids still running seem to have plenty of them.

The Bill Miller bid seems to have more strings attached than a violin orchestra. Not least he wants the SPL and SFA to give a commitment there will be no more punishments for Rangers, which would seem unlikely! This would appear to rule him out of the running completely.

This leaves the Blue Knights, who last week stepped back when they were unable to raise the non-refundable deposit or £500000, or was it they didn’t want to pay it for the right to be called the preferred bidder.

It is now becoming hard to see where things will end up with Rangers, when Duff and Phelps came in on 14^th Feb they said, with the reduction in wages taken by staff, they had enough money to see the season out.

Well the season ends in three weeks, and no new investment has come in. Does this mean liquidation is the only option, or at best a fire sale of assets. Particularly of the playing staff as the wages will once again become prohibitive.

It would appear time is running out and it is time for action and leadership but so far this seems to have been lacking at all levels and the dithering continues.