American businesswoman Kyle Fox has withdrawn her offer for Rangers.
Fox, who is head of US firm KRF Capital, had been in talks about buying a controlling stake in the Ibrox club for the previous nine months. However, that interest has now ended after her proposal was met with resistance from shareholders, including chairman Douglas Park.
The club and Fox were embroiled in court battle in October last year after KRF Capital were hit with a lawsuit over an alleged unauthorised use of the club crest in a takeover proposal, in which Fox claimed that other shareholders were willing to strike a deal for her to buy 25 per cent of the Gers. The case was dismissed however and Fox then doubled down on her intention to become head honcho at the Govan club. Now however, she has pulled out of talks after receiving little encouragement that a deal could be done with current power brokers.
The board have come under fire in recent weeks from fans over perceived poor recruitment. This latest development comes after Fox claimed certain conditions attached to their interest were not met. She told BBC Scotland: "Our interest was predicated on certain conditions being met - those conditions were not met.
"Our letter of interest included gaining anti-dilution rights protection, two board seats and access to the data room and management interviews. All were denied."
However, Fox insisted she remains open to future talks. Previous chairman Dave King is also open to selling his 14 per cent share after an attempt to allow a fans group to purchase his shares failed.
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