A Singapore consortium, led by Hougang United Bill Ng, has emerged the front-runner to take over debt-ridden Scottish football club Rangers FC.
This comes after the previous favourite Blue Knights pulled out of the race early yesterday morning (Singapore time), after finding out that Ng's consortium had been in talks with the club's main creditors Ticketus and had offered a "substantially better" deal.
Before the pull-out, the Blue Knights was invited by the club administrators to reconfirm its bid last Thursday, and told to provide a £500,000 ($1 million) non-refundable deposit in order to be awarded the preferred bidder status.
Contacted by The New Paper, both Ticketus and Ng said no deal between the two parties has been struck, with Ticketus adding that it continues to be in talks with the Blue Knights.
The Paul Murray-led Knights also said it may re-enter the fray should any takeover deal fall through.
More in The New Paper on Wednesday (April 18).