Kennedy in dark over failure

The Blue Knights have failed in a third bid to buy the club and it is thought former Sheffield United chief executive Charles Green is now leading the race to be named as the preferred bidder. Sale Sharks owner Kennedy was disappointed the bid was turned down after weeks of negotiations with administrators Duff and Phelps. Asked why the latest bid had failed, Kennedy told Sky Sports News: "I can't answer that. We've talked at length to the administrators over the weeks. "We felt that we'd got up to the quantum level they were looking for. We always thought that the big stumbling block was Craig Whyte's shares. "I went up to Inverness last Sunday to Craig Whyte's castle, met him, talked to him over three hours and he then agreed to give the shares over so that is no longer an issue."So we can only guess that this late bidder has come in with a knock-out bid and is an extremely credible individual."And we sincerely hope they are because our motive is - and always has been - the survival and prosperity of Rangers Football Club."