Singapore businessman Bill Ng has withdrawn his bid to buy Rangers in the latest twist in the takeover saga at Ibrox.
Singapore businessman's decision taken with 'deep regret'
Singapore businessman Bill Ng has withdrawn his bid to buy Rangers in the latest twist in the takeover saga at Ibrox.
Ng's consortium was thought to be the front-runner to gain control of cash-strapped Rangers after the Blues Knights consortium pulled out of the race earlier this week.
However, Ng has now dropped out of the race after expressing "serious concerns" over the deliverability of shares on offer.
Ng stated that the bidding process has "become untenable," adding that he was making the announcement with "deep regret".
News of Ng's decision to withdraw his interest could leave the path clear for American businessman Bill Miller to strike a deal with Rangers' administrators.
Brian Kennedy's revised offer to take control of the club was ruled out by administrators Duff & Phelps on Thursday.
With the takeover saga taking another twist it means the long-term future of the club remains up in the air after being placed into administration in February.
Disciplinary verdict
Meanwhile, the outcome of the Scottish Football Association's disciplinary action against Rangers and majority shareholder Craig Whyte will not be known until next week.
Rangers faced five charges and Whyte two with the SFA's judicial panel hearing the third and final day of evidence and submissions on Friday.
The SFA said: "The judicial panel have advised that, due to the schedule of evidence and final submissions in respect of the tribunal involving Rangers FC and Craig Whyte, there will be no announcement of determination today.
"The panel chairman has advised that a period of deliberation will follow today's hearing, with an announcement anticipated in early course next week."
