Green bid a 'done deal'

Administrators Duff and Phelps say Charles Green's bid to buy Rangers is a "done deal" and no larger offers can be accepted.

Green's consortium would have been paying £8.5million had a Company Voluntary Arrangement been approved but are now set to gain control of Rangers as a newco for £5.5million after HMRC said they would vote against the CVA. There had been suggestions that rival bidders could still enter the running but joint-administrator Paul Clark says they would not be obliged to consider, or accept, any such bids at this stage. He told Rangers official website: "No, we wouldn't. It is a done deal, it's a contractual arrangement. We had a two-stage arrangement with Charles Green. "There was the CVA in place. If for whatever reason that CVA couldn't be concluded, then the sale of the business and assets agreement would be concluded so it's a done deal."