The administrators for Rangers Football Club chose American businessman Bill Miller as the preferred bidder for the Glasgow soccer team.
Rangers, which has won a record 54 Scottish titles, went into administration, a form of bankruptcy, in February as U.K. tax authorities chased the team over unpaid bills.
“Mr. Miller now proposes to complete his transaction by the end of the season,” administrators Duff & Phelps said in a statement on Rangers website.
Miller is founder of Miller Industries, a towing equipment company based in Tennessee.
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