Kyle Fox reignites controversial Rangers takeover bid after Ibrox club walk away from legal action

American tycoon Kyle Fox insists she still wants to invest in Rangers after the board walked away from legal action against her company KRF Capital.

Fox initially registered her interest in purchasing the Ibrox side last month, promising to boost the club's coffers by £75million over a five-year period if she was to be successful in her 25 per cent acquisition of the Ibrox giants – after a bid of £50m for a 75 per cent stake which was regarded as derisory.

Rangers commenced legal proceedings against USA-based firm KRF and Fox after rejecting an approach that could have seen a significant change of ownership as part of a multi-million pound share and capital proposal. The interest was addressed in September by Ibrox deputy chairman John Bennett, who said there was no appetite among major shareholders to sell up and vowed the club would never again be controlled by a single individual, making making references to Craig Whyte 's takeover from Sir David Murray in 2011, which resulted in liquidation and the club starting again in the fourth tier in 2012.

Rangers voluntarily dismissed their own lawsuit earlier in October, believing the action had served its purpose amid concern the club's intellectual property had been used without permission.

But now Fox claims she is happy to reignite her interest by being 'transparent and open' with Rangers chiefs. “I have always been, and will continue to be, open and transparent with Rangers’ board, shareholders, and investors," Fox said.

“I look forward to putting the lawsuit behind us and continuing to explore opportunities to bring value to the Rangers organisation, its loyal fans, investors, and other stakeholders through KRF Capital’s proposed acquisition of a significant