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Rangers ex-manager Smith to bid for Scottish club
GLASGOW, Scotland (AP) Rangers former manager says he is leading a new bid to buy the Scottish football club that is on the verge of bankruptcy after a long-running dispute with British tax authorities.
Walter Smith is calling on Charles Green, the English businessman who's also planning to buy the club's assets, to drop his bid for the 140-year-old club.
Green is leading the Sevco consortium that was given preferred bidder status last month.
On Tuesday, British tax authorities announced their push to force Rangers into liquidation, allowing them to pursue individuals for debt.
After the announcement, Green said he plans to buy the club's assets and form a new company.
Rangers owe 21 million pounds ($32,5 million) in taxes.
Updated June 14, 2012