Rangers co-administrator Paul Clark believes preferred bidder Bill Miller has received “sufficient comfort” from the football authorities over his proposal to move the club’s assets into a new company.
The American businessman’s bid to take over at Ibrox, which could be completed by the end of next week, will require permission from both the SPL and Scottish FA for the club’s respective league share and membership to be transferred.
“There is no doubt that, under Mr Miller’s plan, the club that will continue to play will be a newco,” Clark told STV.
“It will need the football authorities to approve that. That is one of things Mr Miller has been discussing for some time.
“That’s where he required his comfort prior to his bid being made unconditional.
“I wasn’t involved in all of the discussions and it is not appropriate for me to comment what I do know.
“But what I understand is Mr Miller has sufficient comfort now that he felt able to go unconditional. As a result, we were pleased to accept his bid.”
The administrator also stated his belief the club’s history, including records of all honours, would be transferred with the Scottish FA membership.
“The history of the club remains because the history of the club is a combination of the players, the ground and the training ground,” he added. “That club will remain intact, it will just sit in a new corporate vehicle.
“It is the case that vehicle will have a more recent registration but the club itself will survive.
“There is no reason why the history of the club shouldn’t be with it. I’d remind you the current company is 1899 registered, yet the club is 140 years old. The club itself is what matters. It isn’t the corporate vehicle it sits within.
“We have a stated aim to have the whole process completed by the end of the season. That’s just over a week, so we are getting towards the end for sure.”
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