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Rangers Administrators Accept Offer for Club From Green

May 13 (Bloomberg) -- Administrators to Rangers Football Club Plc said it accepted an offer to purchase the club from former Sheffield United chief executive Charles Green.

A group, led by Green, has secured a period of exclusivity to complete the purchase which should be finalised at a meeting of creditors on June 6, said administrators Duff and Phelps in a statement today on the Glasgow-based football clubs website.

“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,” said Duff and Phelps joint administrator David Whitehouse.

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To contact the editor responsible for this story: Tim Farrand at tfarrand@bloomberg.net

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