US financier Robert Sarver bids £18m for controlling stake in Rangers

• Owner of Phoenix Suns submitted bid after Christmas
• Rangers welcome share purchase from Three Bears group

Robert Sarver, the majority owner of the Phoenix Suns NBA basketball team, has made an approach to Rangers which may lead to an offer being made for the company, the club has announced to the Stock Exchange.

Reports emerged on Sunday that an £18m takeover bid from Sarver had either been lodged or was about to be and on Monday the club confirmed interest from the 53-year-old.

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