Duff and Phelps, administrators of Rangers Football Club, today issued the following statement.
David Whitehouse, joint administrator, said: “The direction from Lord Hodge in the Court of Session in Edinburgh last Friday clarified important issues relating to the status of the arrangement between Ticketus and Rangers Football Club and our powers as administrators in relation to contractual rights.
“This has allowed the bidding process for the Club to move away from the previous uncertainty the issue caused. The direction has also enabled us to have intensive and constructive discussions throughout this week to confirm the levels of interest and the structure of any offers.
“It would be inappropriate for us to comment on the merits of individual bids but, in general, several parties have pursued their declared interest in the Club and five bids submitted have been subject to greater scrutiny.
“We fully understand the desire of supporters to see the bidding process concluded as soon as possible and have asked three bidders to submit best and final offers by Wednesday April 4. It is likely that a successful bidder will require a period of exclusivity to commit to final due diligence thereafter.
“Bids have inevitably been the subject of widespread comment and speculation but at this stage it would be unwise to perceive any particular party to be a preferred bidder, and the bidding process remains open for all parties until April 4.”