A former Maserati and Ford of Europe boss, Martin Leach, has entered the frame for the bids that could save bankrupt British automaker MG Rover from going into oblivion.

Leach’s idea is to rekindle the deal with the Shanghai Automotive group (SAIC), which was initially thought as Rover’s best bet for survival until the Chinese, largely due to the size of the company’s debts, backed off on the negotiation. Rover’s assembly lines are currently all stopped.

According to British magazine Autocar, the insolvency and pension liabilities that stalled the deal previously have ceased to be obstacles, now that MG Rover is in administration. SAIC would enter with about $180 million to get the company back on its feet, and would build Rover’s 75 and 25 models in China.

Leach’s bid is set to compete for two other offers for the whole company, and five propositions to revive just the sporty MG brand. An announcement of the winning bidders is expected for the near future.

(this article was taken from speedtv.com)

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