Fri, May 11, 2012 - Page 18 News List

Singaporean tycoon renews his Rangers bid at half the price

AFP, SINGAPORE

Singaporean tycoon Bill Ng has renewed his bid for Rangers at just half the price he originally offered after a “crazy” twist to the ownership saga, reports said yesterday.

Ng, who has supported the bankrupt Scottish club since boyhood, withdrew his £20 million (US$32 million) offer last month in frustration at the bidding process.

However, 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.

“It is really crazy,” Ng told Singapore’s Today newspaper. “There were something like 20 missed calls from Scotland on my phone when I woke up.”

“I am now told they are willing to accept 50 percent of what I had initially offered. It seems they are now more receptive and no longer digging in their heels with unrealistic demands,” Ng said.

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

In announcing his withdrawal, Miller said he had received the message, “Yank go home!” from Rangers fans. However, Ng said he had no concerns about getting similar treatment.

“I’ve been getting positive feedback from fans there, who know that I’m a life-long Rangers supporter and have the club’s best interests at heart,” he told the Straits Times.

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