Hougang United chairman Bill Ng has emerged as one of the key figures behind an audacious Singapore bid to take over Scottish football giants Rangers FC.
The 52-year-old, who is a director at private equity firm Financial Frontiers, told The Straits Times on Thursday that he is one of a 'handful of Singaporeans from the financial industry' to table a bid for the debt-stricken club.
The Singaporeans are one of four parties who have submitted offers for the reigning Scottish champions. The other bidders are the Blue Knights group led by former Rangers director Paul Murray, Chicago-based Club 9 Sports and an unknown German firm.
'This is a chance to put Singapore on the world football map... We're not just doing this for financial reasons. If we take over Rangers, we've got plans that will positively impact Singapore football in the long run... Our population size is quite similar to Scotland's so there's plenty for us to learn from them in terms of football development.'
Mr Bill Ng (above), speaking from London, where he met administrators of the debt-stricken club
The famed Glasgow outfit, which has won the Scottish league a record 54 times, entered administration last month following tax disputes. (SOURCE)
Football: Singaporean boss in Rangers bid
By Channel News Asia
SINGAPORE: The Singaporean boss of a local football club is behind one of four bids for cash-strapped Scottish champions Rangers, media reports said on Friday.
|Photo: Rangers FC Wikipedia|
Bill Ng, the chairman of Hougang United, told media he is leading a Singapore-based consortium that hopes to be the winning bid for the Glasgow giants.
Administrators have received four bids for the venerable 140-year-old club including one fronted by former Rangers director Paul Murray and from groups based in Singapore, Germany and the United States.
The administrators said Thursday they would consider three of the four bids submitted.
"The weakness lies in the people who run the club and I feel that we can do something better," Ng was quoted as saying by a local newspaper.
Neither Ng nor staff at his Singapore club were available to confirm the bid when calls were made to Hougang United by AFP.
The local newspaper said Ng's group likely submitted a bid of around 20 million pounds ($31.7 million) for Rangers and the bulk of the money would be used for paying off its creditors.
The bid by Ng's Singapore-based consortium marks the second time investors from the wealthy city-state have attempted to buy a British football club.
Singaporean billionaire Peter Lim in 2010 attempted unsuccessfully to buy English football club Liverpool for 320 million pounds.
Administrators were called in to Rangers on February 14 after British tax authorities went to court to seek payment of an unpaid bill of 9 million pounds ($14m) built up since owner Craig Whyte took charge at Ibrox in May.
Administration is the process whereby a company that cannot pay its debts calls upon independent expert financial help in a bid to remain operational. (SOURCE)
Hougang boss Ng's behind Rangers bid
By The Newpaper
Rangers Football Club in a team training session at their
Murray Park centre in Milngavie, near Glasgow, Scotland,
in February. Photo: REUTERS
The New Paper can confirm that the Singapore-based consortium that launched a formal takeover bid for the Glasgow giants is led by none other than Hougang United chairman Bill Ng.
Administrators of the Scottish Premier League side, who went into administration last month following tax disputes, had earlier confirmed receiving the offer, believed to be around £20 million ($40m) on March 23.
It was reported in Scottish newspaper The Daily Record on Tuesday that Ng is the front man in the five-man Far East consortium that will make its play for the 54-time Scottish league champions, along with former Ibrox director Paul Murray’s Blue Knight’s consortium and the Chicago-based Club 9 Sports investment fund. (SOURCE)