Blow for crisis club Rangers as prospective owner Kennedy pulls out of bidding
13:00 GMT, 29 March 2012
Brian Kennedy is no longer in the running to buy Rangers and has urged the club's administrators to opt for a rival bid instead, a representative for the Sale Sharks owner has said.
It is understood that Kennedy was told by Duff and Phelps that his takeover bid was too low.
He appears unlikely to table an improved proposal after saying he hopes administrators go with another bid tabled by former Ibrox director Paul Murray and his Blue Knights consortium.
No go: Brian Kennedy has pulled out of the running to buy Rangers
Kennedy was one of a number of parties
who had expressed an interest in taking over the ailing Glasgow giants,
who were forced to call in the administrators on February 14.