By John Greechan

PUBLISHED: 17:19 EST, 11 May 2012 | UPDATED: 17:19 EST, 11 May 2012

Brian Kennedy insists the Rangers administrators will have 'blood on their hands' if they make another wrong call in picking the next king of Ibrox.

His stunning outburst came just hours after his joint bid with Paul Murray and the Blue Knights was withdrawn after a noon deadline was missed by under-pressure Duff & Phelps.

The new frontrunners are an English consortium led by former Sheffield United chief executive Charles Green.

Lashing out: Brian Kennedy hit out after withdrawing his bid for Rangers

Lashing out: Brian Kennedy hit out after withdrawing his bid for Rangers

A senior figure from Green's time at Bramall Lane warned fans that he should not be allowed anywhere near the SPL giants.

The source told Sportsmail: 'He is not what Rangers want or need. If he's backed by the same sort of people who were behind him at United, it's bye bye Rangers.'

On a day when the battle for Rangers turned more bitter than ever, former director Murray and partner Kennedy launched a vicious attack on the Ibrox administrators.

The Murray-Kennedy group revealed they had lined up both Walter Smith and Graeme Souness to serve on a new 'football board' in support of manager Ally McCoist.

Having already seen American suitor Bill Miller withdraw after being handed preferred-bidder status, Kennedy warned a second mistake could leave Rangers — already at 'death's door', according to the Sale Sharks owner — fatally wounded.

'I hope Paul Clark knows what he's doing, I hope Charles Green knows what he's doing and I hope David Whitehouse knows what he's doing because, if they don't, they will have blood on their hands,' Kennedy told Sky Sports News.

Hope: Administrators David Whitehouse (left) and Paul Clark (right)

Hope: Administrators David Whitehouse (left) and Paul Clark (right)

Speaking at a press conference earlier, Kennedy revealed details of an 11million joint bid with the Blue Knights which, they claimed, represented the best and possibly only chance Rangers have of exiting administration through a CVA.

Having flown in from New York in full anticipation of being given permission to close the deal, Kennedy expressed surprise that new bidders had suddenly emerged, declaring: 'I think we are all surprised by that, aren't we? Suddenly these guys pop up from nowhere. Where have they been for the last three months?'

Kennedy, who accused joint administrator Clark of telling him that an offer of 8.5m would be enough to swing the deal if disgraced former owner Craig Whyte's shares could be secured, added: 'I had a conversation with Paul Clark last night, which is why I ended up flying back from New York last night.

'He told me: "You are looking quite good. Because the other parties are way behind." That's why I flew back from New York. 'They are now saying that the bid of the other party is greater than ours and this game could go on forever and ever until it's too late. Tomorrow morning is too late.'

Duff & Phelps hit back, effectively accusing the home-based consortium of putting together a package that was no better than liquidation — and of basing their funding model on fanciful dreams of future European conquests.

Game over: The Blue Knights' Paul Murray (right) and Brian Kennedy

Game over: The Blue Knights' Paul Murray (right) and Brian Kennedy

Joint administrator Whitehouse said in a statement: 'Throughout the process Mr Kennedy told us repeatedly he would be the "last man standing".

'As Mr Kennedy today made a virtue of explaining publicly details of his bid we are in a position to comment on those remarks.

'Of the 5.5m cash on "day one" figure Mr Kennedy quoted, 3.5m of that would be provided by us in any case from the club's debtors.

'The bid structure also factors in performance in Europe and reaching the later stages of the UEFA Champions League, which cannot be achieved next season, for example.

'We therefore find it extraordinary and very disappointing that Mr Kennedy in particular should assert that the amount being offered is irrelevant. Time and again, he and others have been afforded the opportunity to become the best bid in play and it has not happened.

'The most important information today for supporters is that discussions with two bidding parties are at an advanced stage and we hope to reach agreement with one at the earliest opportunity.'

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Kennedy is your typical bluenose, he has tried to bully his way through the process and thinks society owes him because it's 'Glasgow Rangers'. The only people with "blood on their hands" is that vile, evil institution called the 'Old Firm' with their sectarian songs and hooligan behavior. The quicker they are removed from our shores here in Scotland the better for the decent, peaceful, taxpaying citizens of this beautiful country. 'Old Firm' = 'Scotland's Shame' .......'SPL' = 'The Banana Republic Of World Football'. Good riddance 'Glasgow Rangers', what will you 'knuckledraggers' spend your dole money on next?

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The reason why a business is liquidated is because they can not pay their debts. That means the business no longer operates and all the assets are stripped to pay the creditors as much back as possible. Most creditors are usually out of pocket because the assets usually can not account for all debts owed. Any Rangers Newco would need to start from scratch. They would need to apply for a membership license for entry into the Scottish Football League. To do so they will need to have a viable product which will entail signing new players from scratch on new contracts as the players from the liquidated Rangers Oldco would automatically be free agents. The Newco would need to find a stadium to play at. Presumably Ibrox would have been auctioned off to the highest bidder a process that would take months so the stadium would be unavailable during the time leading up to the open auction.

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*yawn* all so predictable! If only the bookies would take money on all of this.. I would have made a fortune!

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