http://scotlandonsunday.scotsman.com/football/Sale-of-Rangers-FC-39will.6650410.jp

 

Quote

Sale of Rangers FC 'will go ahead by mid-January'

 

Published Date: 05 December 2010

By Tom English

 

A DEAL to sell Rangers Football Club to Scots venture capitalist Craig Whyte will go though by the middle of January, according to senior sources at the club.

Whyte, 39, met with Ibrox chairman Alastair Johnston in Glasgow to discuss the purchase of Sir David Murray's shareholding in the club.

 

The proposed £33 million deal will wipe out the existing debt that has stymied Rangers in the transfer market for two years.

 

Yesterday, sources at Rangers said the deal, barring any late hitches, could be completed before Christmas but it is more likely that it will be done by the middle of January. "We can't say with 100 per cent certainty, but Whyte has the money and is very convincing. We think the deal will happen," said the source.

 

Murray has presided over Rangers for 22 years but has been keen to sell his stake for some time.

 

Hopefully the debt thing is not true as that is what is holding them back at the moment.

It sounds like he thinks he can hide the assets in a shell company then leave Duff and Phelps to sort out the debts of Rangers Plc then once that's done buy back Rangers Plc and move the assets back to them.

 

But he can't be doing that as that would be illegal. This and his get out of jail free in the minds of the knuckle draggers, with his ludicrous demands of the SPL and his unwillingness to secure the preferred bidder status surely suggests he's just another Shyster on some kind of ego trip.

This is all madness.

£11M to buy all the assets, pay of Whyte, re-sign all  the players and get a CVA, are people really buying this?

 

Nobody has enough to buy Rangers or even their assets.  Currently none of the offers seem to even be in a position to create a meaningful newco never mind "save" Rangers as is.

 

The Huns support should be getting their arses in gear and forming a new club themselves, seems the current one isn't going to be around much longer.

Duff and Phelps have strung it out as long as they can but they must be in a position where selling off the assets is the only option left.

BBC 5live's man at Ibrox (missed who it was) just mentioned Miller's demands to take over the club with no footballing penalties imposed from the league.

 

His words: "Having spoken to people at the SPL today, that is not beyond the realms of possibility."

 

If so, game over folks. No more money from me will be going into that den of corruption called Scottish football.

 

edit - obviously I didn't mean to say xbrox, since the game's at diet ibrox!

BBC 5live's man at Ibrox (missed who it was) just mentioned Miller's demands to take over the club with no footballing penalties imposed from the league.

 

His words: "Having spoken to people at the SPL today, that is not beyond the realms of possibility."

 

If so, game over folks. No more money from me will be going into that den of corruption called Scottish football.

 

SFAPL Here we come.

Kicked out of UEFA/FIFA here we come!

BBC 5live's man at Ibrox (missed who it was) just mentioned Miller's demands to take over the club with no footballing penalties imposed from the league.

 

His words: "Having spoken to people at the SPL today, that is not beyond the realms of possibility."

 

If so, game over folks. No more money from me will be going into that den of corruption called Scottish football.

 

Don't believe it for a minute.

How many stories about imminent takeovers and deals being struck have we had in the last 2 months?  This is more bullshit.  This yank's deal isn't feasible even with a guarantee of no penalties (apart from anything he won't get that guarantee in time to strike a deal).

Don't worry

 

 

1. A chance to set more new records - first team in history to get straight promotion as Champions of each division in Scotland in successive seasons. We could have that cake and perhaps get to eat it, too, should we then win the SPL on the first season of our return.

 

2. A chance for me and many others to return to away games.

 

3. A chance to provide much needed and direct financial assistance to the SFL.

 

4. A chance to slaughter the clubs working against us right now in a financial sense. No Sky/ESPN deals worth talking about without games vs them. A collapse of some current SPL sponsor deals and a dearth of new ones. Millions of pounds removed from said clubs in away-day ticket sales. Mind you - perhaps they think Thistle or Falkirk will be just as lucrative. They'l get an answer shortly when Ross County visit. So, many millions of revenue lost to the current SPL - enough to push some of our enemies over the financial precipice - how I would laugh.

 

5. A chance to do our own TV and sponsorship deals in the SFL. What a riddy that would be for the SPL clubs if such deals were of greater value than their own.

 

6. A chance - a real chance - for a division 3 side to win the Scottish cup.

 

7. A chance to build The Rangers into something dearer and more valuable to the support than it already is.

 

Rangers would get 35-40k home fans easy i believe in div 3 thats if the so called real fans stick with us, we wont get our talent cherry picked cause we could still pay decent wages, and they also know we would be back at the top in under 4 yrs sone aluko never got picked up are people saying with the right scouts we wont get more like him, we would still be a better option to play for than some of the shite in scotland dont think so little of your teams appeal

 

Hunbelievable.

That's cheered me up 

Just received a text saying there's a rumour in Glasgow that the liquidators are moving in tomorrow...

 

Anyone heard similar?

Just received a text saying there's a rumour in Glasgow that the liquidators are moving in tomorrow...

 

Anyone heard similar?

 

What do liquidators look like?

 

 

http://www.bbc.co.uk/sport/0/football/17797764

 

YAAAAAAAAAAAAAAAWN!!!

They'll still be making "new" bids in 2015!

Has anyone ever heard of so many deadlines being issued then ignored only for another deadline to appear?

 

http://www.heraldscotland.com/news/home-news/rangers-bids-deadline-to-be-extended.17389696

 

Administrators Duff & Phelps had set today as a deadline for naming either Paul Murray's Blue Knights or American businessman Bill Miller as their preferred choice to address the club's massive debts and take it out of owner Craig Whyte's hands.

 

But ongoing obstacles apply to both deals and neither of the bidders were ready to commit to an unconditional offer without receiving clarification from, among others, the Scottish Football Association and Scottish Premier League

Total farce

Fuuuuuuuuuuuuuuuuuck me. Wake me up when it's over.

 

Has anyone ever heard of so many deadlines being issued then ignored only for another deadline to appear?

 

http://www.heraldscotland.com/news/home-news/rangers-bids-deadline-to-be-extended.17389696

 

Hold on a minnty.

 

Since when did how the sfa operate actually impact on how a football club is run as a viable business?

 

I smell shite.

http://www.bbc.co.uk/sport/0/football/17811695

 

Rangers' administrators say they have yet to receive an offer for the club that will enable them to name a preferred bidder.

 

Paul Murray's Blue Knights aim to agree a deal with Ticketus and Bill Miller is seeking clarification on potential SPL sanctions.

 

Murray's group, with Ticketus as partner, had been working towards preferred bidder status.

 

Duff & Phelps said neither party had made an offer "capable of acceptance".

 

Surely the plug needs to be pulled on the club soon?

Guardian sport ? @guardian_sport

Rangers handed a 12-month transfer embargo and Craig Whyte banned for life from all involvement in Scottish football.

Also received a fine which they probably can't pay anyway.

So they can only sign players 18 and under for the next year. 

So what happens to his shares?

Presumably he will be "compelled" to sell them.

 

However, as he has already been quoted as saying that the SFA can't force him to pay the fines they have just levied, I wonder what will happen...............

 

Also received a fine which they probably can't pay anyway.

So they can only sign players 18 and under for the next year. 

 

Where they getting the money to sign 18 players?

The club are bracing themselves for further, possibly severe sanctions when the SPL meet next Monday.

 

The hammer blow came after a financial expert warned that Rangers had just two days left to save their future. Top accountant Neil Patey said that time to set up the preferred option to keep the club solvent – a Company Voluntary Agreement – is fast running out.

 

Any CVA requires at least five weeks to run its course.

 

But if Rangers’ ownership and a creditors’ deal are not resolved by June 1, the club will once again be facing losses of up to £1million a month when the deal by players to accept a temporary 75 per cent pay cut runs out.

 

Add to that the administrators’ fees – which by yesterday had reached more than £1.6million – and the financial picture grows ever bleaker.

 

Patey, of Ernst and Young, said failure to strike a deal by Thursday could lead to:

 

?“Non-liquidation” buyers walking away because of the extra debts.

 

? Top stars being axed if they insist on wages being hiked back to previous levels.

 

? Four months of further administration.

 

? Millions more in fees to administrators.

 

Patey also warned of the difficulty Whyte could pose if he decides not to hand over his shareholding without a fight.

 

Patey warned: “I think it’s days and not weeks, as the June 1 deadline is quite important.

 

“The club will then be in the close season and there will be little income coming in. And, importantly, the players’ wages, which were at a reduced level, will defer back to full wages.

 

“That takes them back close to the £10million per annum operating loss that was stated when they went into administration.

 

Rangers fans’ spokesman John Macmillan said most fans were frustrated at the way the sale was being drawn out.

 

He said: “If the red tape means that June will bring further debt issues then I suggest that everyone involved gets the finger out.”

 

hee hee

I missed this last night but had the immense pleasure of being woken by my radio this morning leading with the story.

First of the final nails in the coffin?