Rangers FC lodge papers to go into administration

Eirebear

shankespony wrote: »

Whats going to happen with Rangers now? its not looking good for them at all, the investors are playin the "hokey kokey" one minute they are in the next they are out. It seems like they're all doing "walking away", i can't see anything other than liquidation, there are too many obstacles for an investor, like:

- how much is the wee and big tax case going to cost
- What punishments are going to be dished out as follows:
newco into Division3? or handicapped with 10 points minimum for x number of seasons to come?
-no european licence so no euro adventures or money for 2/3 years
-how much will Ticketus need to get to approve an investor?
-agent Whyte will want a good wedge to release his shares and provide the assets for a newco

The fans talk about owning the club but 150,000 fans at £1,000 each only covers whats owed £135m+ thats alot for the average fan and not too many sugar daddies coming out of the woodwork.

Bill Miller & The Blue Knights bids are still on the table.

According to SSN reports.
(Filtered through another forum)
Miller has the highest bid, administrators will make an announcement on Monday but if nothing changes it is expected that Miller's bid will be accepted.

Problem for me with Miller's bid is that it is down to the SPL's acceptance of his "incubator company" idea.
I doubt they'll stand for it tbh - too many people within the SPL want us gone.

blahfckingblah

Fair play to keith for finally agreeing to pay the bet and placing aside his personal beliefs (however wrong they may be) .

PauloMN

Eirebear wrote: »

I doubt they'll stand for it tbh - too many people within the SPL want us gone.

Paranoid a bit? Who in the SPL want you gone, and why?

Are you suggesting things would be different if it were any other club in the same situation? If the SPL meet Millers demands it would be a disgrace, and I expect it would make the whole league setup untenable.

Broxi_Bear_Eire

PauloMN wrote: »

Paranoid a bit? Who in the SPL want you gone, and why?

Are you suggesting things would be different if it were any other club in the same situation? If the SPL meet Millers demands it would be a disgrace, and I expect it would make the whole league setup untenable.

Why would it make the league setup untenable exactly ??

Eirebear

PauloMN wrote: »

Paranoid a bit? Who in the SPL want you gone, and why?

Are you suggesting things would be different if it were any other club in the same situation? If the SPL meet Millers demands it would be a disgrace, and I expect it would make the whole league setup untenable.

Paranoid? Not in the slightest.
2 SPL Chairmen, Yorkstone and Thompson have been fairly out spoken about their lack of "Need" for Rangers. Despite them fervently chasing debts.

Where did i suggest it would be different for anyone? Simply stating that i don't believe that Miller's idea will be allowed to work.

I'm not entirely sure how it would affect the league in such a manner, i'm sure if it wasnt a legitimate business approach then it wouldnt be getting discussed - that said, i don't know enough about it to really comment.

KeithAFC

Eirebear wrote: »

Bill Miller & The Blue Knights bids are still on the table.

According to SSN reports.
(Filtered through another forum)
Miller has the highest bid, administrators will make an announcement on Monday but if nothing changes it is expected that Miller's bid will be accepted.

Problem for me with Miller's bid is that it is down to the SPL's acceptance of his "incubator company" idea.
I doubt they'll stand for it tbh - too many people within the SPL want us gone.

That could be possibly true. Although do you think the Establishment could help push it through?

Eirebear

KeithAFC wrote: »

That could be possibly true. Although do you think the Establishment could help push it through?

Doubt it - in fact you could say it's the "establishment" that put us in this mess!

Dempsey

Eirebear wrote: »

Bill Miller & The Blue Knights bids are still on the table.

According to SSN reports.
(Filtered through another forum)
Miller has the highest bid, administrators will make an announcement on Monday but if nothing changes it is expected that Miller's bid will be accepted.

Problem for me with Miller's bid is that it is down to the SPL's acceptance of his "incubator company" idea.
I doubt they'll stand for it tbh - too many people within the SPL want us gone.

Miller wants to transfer the assets of Rangers into a new company and play on using that company, there are rules and punishments to doing that. Then if you do want miller suggests in his statement and then transfer rangers plc into this other company, I dont see how it can lay claim to rangers history.

You'd really want to transfer all these back into Rangers plc when the debt is sorted out, again rules and punishments for transferring assets to another company to have a chance at claiming rangers titles but thats just a merger isnt it? Like what ICT did.

Broxi_Bear_Eire

KeithAFC wrote: »

How is it embarrassing? Wise up.

It is a tainted title because it wasn't fair. When the bet was made, it was made on fair ground in the league. There was no points deduction. I know you don't want to piss them off Broxi but sometimes you need to be honest and call it as it is. It is a tainted title and everyone at Celtic park knows it.

Nothing to do with not wanting to piss them off I think you will find I have done that on more than one occasion

It was embarrassing because as a Bear if I make a bet and lose I pay my dues more importantly as a human being I pay if I lose and if its for charity even more so.

Eirebear

Dempsey wrote: »

Miller wants to transfer the assets of Rangers into a new company and play on using that company, there are rules and punishments to doing that. Then if you do want miller suggests in his statement and then transfer rangers plc into this other company, I dont see how it can lay claim to rangers history.

You'd reallu want to transfer all these back into Rangers plc when the debt is sorted out, again rules and punishments for transferring assets to another company to have a chance at claiming rangers titles but thats just a merger isnt it? Like what ICT did.

How'd you figure that?
Both Rangers FC and Rangers PLC will still exist, no one will have filed for liquidation and no one will have went out of business.

As i said before, i don't know enough about it - but let's face it.
A) If it wasn't legitimate business practice then it wouldnt be getting discussed
Any suggestion that saves us is going to get you lot up in arms

Dempsey

Eirebear wrote: »

How'd you figure that?
Both Rangers FC and Rangers PLC will still exist, no one will have filed for liquidation and no one will have went out of business.

As i said before, i don't know enough about it - but let's face it.
A) If it wasn't legitimate business practice then it wouldnt be getting discussed
Any suggestion that saves us is going to get you lot up in arms

A) I never mentioned liquidation, legitimacy or anyone going out of business. I'm talking about SPL rules. There are rules about transferring the assets of one company into another. What Miller wants to do and what he can actually do are two different things.

I dont care if you live or die, just that Rangers serve every punishment that is due to ye and no stone left unturned in uncovering what ye did in the last decade.

PauloMN

Broxi_Bear_Eire wrote: »

Why would it make the league setup untenable exactly ??

Because if Miller's demands:

My offer is contingent upon the regulatory bodies agreeing that the club will begin play in the 2012/13 season in the SPL and that they will do so without any loss of points and with all historic titles intact.

are met by the SPL, there'd be war among the clubs in the league. He's making an offer Monday latest, so he wants the SPL to agree to all that when investigations are still going on and the big tax case is yet to be decided?

This guy is worse than Whyte/White.

Personally I think Murray will take over, with an improved deal for Ticketus. Either way, I'm not bothered what happens to Rangers because either way, Rangers are fecked - whether they continue as is, or are let die and reform as a newco - Rangers will be weak for a long time to come.

I'm more interested in how this all pans out in terms of the SFA and the SPL, and how they handle it - and how the other clubs in the SPL react.

Eirebear

PauloMN wrote: »

Because if Miller's demands:



are met by the SPL, there'd be war among the clubs in the league..

Yet...i'm being paranoid?

shankespony

The issue is that kilmarnock £10m+, Aberdeen £15m+, Hearts £35m+ , Dundee Utd £6m, Hibs £4m+, Motherwell just a few years out of administration have debt mountains and really the model is unsustainable in the long term. What spl needs is new thinking the euro co-efficient has plummeted and so no longer celtic & rangers in group stages of champion league and the rest of scottish football getting the scraps so to speak. Rangers through financial doping lead the way and the rest of the teams followed suit in spending well beyond their means as seen above. There needs to be a period of consolidation where clubs are forced to reduce their debt.

Now the model is broken I can see the day rapidly approaching where summer football will be the norm in Scotland even on an experimental basis for say 3 years.

From both a revenue perspective and also to raise the coefficient where Scottish teams are at the top of their game and catching well known opponents from better leagues cold as they would not have started their leagues.

Summer football makes economic sense its worked very well here,
bigger crowds, and european football where shamrock rovers qualified for europa league,(they made £1m+ in profit) where only celtic got there on appeal, imagine if 3 or 4teams could make the europa league group stages! More crowds, more teams qualifying for europa and maybe champions league group stages, (i still cringe when i think of the likes of Gretna, Raith Rovers getting nowhere and the coefficient tumbling to where it is today in my opinion an all time low). With summer football you are giving scottish teams the best chance to qualify instead of like Rangers being knocked out of both competitions and the financial ramifications of this.

Therefore more money overall and also scottish football would have a
somewhat monopoly in the uk during the summer with the premiership not on, so from a media, sky, gambling, publicity, crowd and maybe sponsorship perspective it would be very popular. Who wants to watch football in December, rain snow freezing cold, Christmas shopping etc, etc common sense would at least try it and if it doesn't work over 3 seasons then change it. If Celtic, Rangers, Hearts, Dundee utd, Motherwell were 4/5 months into the season then imagine the impact on crowds and qualification money that would be made. With strict budgets imposed on turnover and debt repayments. What other way is there except for every club to liquidate and become a "newco" what will that do to advertising?


Also if the league finishes in Nov there may be an option for some of the players to transfer to the Premiership, etc for short term contracts with a view to permanent sales, Therefore even more revenue for players and their scottish clubs in what would be the close season (like Landon Donovan, Robbie Keane etc)

Imagine an celtic v rangers game on a sat/sun in the summer being the main sporting event the viewing figures for sky would be massive as every fan in the UK/Ire would be getting their football kick so to speak.

PauloMN

Eirebear wrote: »

Yet...i'm being paranoid?

Do you think the SPL should give Miller the guarantees he is looking for?

TheBuilder

shankespony wrote: »

The issue is that kilmarnock £10m+, Aberdeen £15m+, Hearts £35m+ , Dundee Utd £6m, Hibs £4m+, Motherwell just a few years out of administration have debt mountains and really the model is unsustainable in the long term. What spl needs is new thinking the euro co-efficient has plummeted and so no longer celtic & rangers in group stages of champion league and the rest of scottish football getting the scraps so to speak. Rangers through financial doping lead the way and the rest of the teams followed suit in spending well beyond their means as seen above. There needs to be a period of consolidation where clubs are forced to reduce their debt.

Now the model is broken I can see the day rapidly approaching where summer football will be the norm in Scotland even on an experimental basis for say 3 years.

So rangers made the other teams go into debt?

I hate the thought of summer football tbh.

Dempsey

Celtic are strongly opposed to summer football, not sure about other clubs.

shankespony

if you read it!!! it clearly says rangers led the way and others followed suit

bobbysands81

KeithAFC wrote: »

Right I will pay it. I need to get it sorted out next week with my card as it isn't debit. I got the website favoured. So I will do it.

I want proof you paid it.

PauloMN wrote: »

Well the only reasonable suggestion would be that he pays online, and forwards the receipt by PM to Bobby. He made the bet with Bobby, I think he should show Bobby the receipt. Or give Bobby €50 cash and let him make the donation.

100% agree. However, I don't expect him to hand € over to me or forward me on anything with name etc on it. Therefore it would be great if BBE (or one of his sons) was an intermediate that Keith could forward proof of payment to? If they say it's been paid then I'm happy.

bobbysands81

Eirebear wrote: »

How'd you figure that?
Both Rangers FC and Rangers PLC will still exist, no one will have filed for liquidation and no one will have went out of business.

As i said before, i don't know enough about it - but let's face it.
A) If it wasn't legitimate business practice then it wouldnt be getting discussed
Any suggestion that saves us is going to get you lot up in arms

There's not a hope that Miller will be successful in either the CVA or getting the SPL to agree to his proposal.

The SPL won't agree because if you put lipstick on a pig it's still a pig. What's stopping Hearts running up bills of £50m, refusing to pay them and then transferring the playing side of Hearts to a newco whilst the bad debt side of the company negotiate with te creditors until a conclusion is reached. This is financial suicide for Scottish soccer. Not a hope this will succeed.

If you lose tax case then Miller is basically offering 10p in the pound by way of CVA. Given tat D&P value Murray Park and Ibrox at £109m then liquidation will get creditors approx 75p in the pound.

As I said earlier, if you lose Tax Case then unless someone steps in with about £50m then I think liquidation is unavoidable.

A Dub in Glasgo

The SPL will move the goalposts to ensure no one else does anything remotely similar to what they agree with Rangers?

Broxi_Bear_Eire

bobbysands81 wrote: »

KeithAFC wrote: »

Right I will pay it. I need to get it sorted out next week with my card as it isn't debit. I got the website favoured. So I will do it.

I want proof you paid it.

PauloMN wrote: »

Well the only reasonable suggestion would be that he pays online, and forwards the receipt by PM to Bobby. He made the bet with Bobby, I think he should show Bobby the receipt. Or give Bobby €50 cash and let him make the donation.

100% agree. However, I don't expect him to hand € over to me or forward me on anything with name etc on it. Therefore it would be great if BBE (or one of his sons) was an intermediate that Keith could forward proof of payment to? If they say it's been paid then I'm happy.

I am willing to act as an intermeadiatry and I am pretty sure the boys would be willing to all that would be passed on are the payment details no name to be mentioned

bobbysands81

Broxi_Bear_Eire wrote: »

I am willing to act as an intermeadiatry and I am pretty sure the boys would be willing to all that would be passed on are the payment details no name to be mentioned

If you say he's paid then that's good enough for me.

Jelle1880

Talk about a development:

Brian Kennedy and the Blue Knights are working together to scupper controversial American Bill Miller's bid for Rangers - and have been given until Monday to come up with a rescue package.
Increasingly desperate administrators Duff & Phelps last night warned that, without an alternative on the table, they will have no choice but to name Miller as preferred bidder on Monday.

His convoluted plans to duck £100million-plus of debt would put Rangers on a direct collision course with Scotland's football authorities as they grapple with new rules on financial fair play.
But Duff & Phelps representative Paul Clark confirmed that the club faces running out of money in a matter of weeks, making an imminent sale vital if liquidation is to be avoided.
Insisting they will proceed with Miller 'if no further and better bid comes along', Clark - who admitted that completing a deal by the end of the season now seems unlikely - also said that talks with former Rangers director Paul Murray's Blue Knights consortium would continue over the weekend.
And the chances of the home-grown bid trumping the transatlantic takeover appeared to have strengthened with the late conversion of rugby magnate Kennedy.
He told Sportsmail: 'I have been speaking extensively with Paul (Murray) to try to find a solution.'
Asked how that might work, the Sale Sharks owner - who has always insisted he wouldn't work in a consortium - added: 'We are working at that.'
Sportsmail understands that Kennedy has been in talks with Ticketus and the London-based firm's involvement would be an important lever in persuading disgraced former owner Craig Whyte to part with his shareholding.
Clark warned: 'Without season-ticket sales, the money would run out towards the end of May or early June. From that point of view, we really do need to proceed with one of these bids.

'Bill Miller had said: "Put up or shut up" and we really are in the position that, if no further and better bid comes along, we will proceed with him next week.
'He has made it clear that he wishes to proceed on Monday. If that was the only acceptable bid, then we would prepared to proceed with him.
'We will be able to make a decision and proceed, one way or another, on Monday.
'And I can tell you that earlier today we had continued dialogue with Paul Murray and advisors of the Blue Knights consortium, and the suggestion is that these discussions will continue over the weekend.
'Having placed themselves in a good position, the Blue Knights consortium's withdrawal of their financial commitment to pay an exclusivity fee last week was a real setback for us.
'We have been in contact with the consortium earlier today to confirm they are considering their position as to whether they will be able to make an unconditional bid for the club - including an acceptable exclusivity arrangement. We have not received their unconditional bid.
'We are quite happy to continue discussions with Paul Murray and his colleagues over the weekend.
'I have spoken to Mr Murray on two or three occasions today and have no problem with further discussions.
'If he is still interested to talk, we are interested to talk, but it now comes down to Monday. It has gone on long enough and we have to really bring it to a head once and for all.
'I think it would be foolish for me to give a precise time on Monday. I would hope that during the day we will have in place an exclusivity arrangement with one of the parties, which is what we have sought for the last few weeks. But we have had no bid, so we have not been able to proceed.'
Administrators admit that Miller's £11.2m plan to effectively split Rangers in two, keeping the good and shifting debt on to a separate company, is effectively a 'newco' by another name.
The American claims to have been involved in 'a series of talks' with both the SPL and SFA, although the latter deny having any discussions with him.
Sportsmail understands the SPL board would study any final Miller proposal in detail.
But insiders warn that, if they judge his plan to be a dodge designed to avoid exiting administration through a Company Voluntary Arrangement, Rangers would be subject to any penalties due to be debated by the league on April 30. That would lead Miller to walk away, according to the Tennessee Tow Truck King's own statement, although Clark - who said that the chances of reaching a CVA remain 'in the balance' - insisted: 'Let's make no mistake, this would be an asset purchase- if the Miller bid was proceeded with.'


Read more: http://www.dailymail.co.uk/sport/football/article-2132974/Brian-Kennedy-Blue-Knights-hijack-Bill-Millers-takeover-Rangers.html#ixzz1sfiQnsST

bobbysands81

Jelle - you think you guys can avoid liquidation?

Jelle1880

Not a clue at the moment, I'm sure people are working to save the club but it's all dragging out too long I fear.

Also, I think you asked that once before

Broxi_Bear_Eire

bobbysands81 wrote: »

There's not a hope that Miller will be successful in either the CVA or getting the SPL to agree to his proposal.

The SPL won't agree because if you put lipstick on a pig it's still a pig. What's stopping Hearts running up bills of £50m, refusing to pay them and then transferring the playing side of Hearts to a newco whilst the bad debt side of the company negotiate with te creditors until a conclusion is reached. This is financial suicide for Scottish soccer. Not a hope this will succeed.

If you lose tax case then Miller is basically offering 10p in the pound by way of CVA. Given tat D&P value Murray Park and Ibrox at £109m then liquidation will get creditors approx 75p in the pound.

As I said earlier, if you lose Tax Case then unless someone steps in with about £50m then I think liquidation is unavoidable.

They may be valued at that Bobby but as Murray park is a leasehold property and one of the terms of the lease is it has to be used for something similar so who in Scotland is going to pay the big bucks for it also as frontage of Ibrox is listed and can't be knocked down or changed plus getting planning permission for building anything in that area and all round that area is a tip. If you then take in nobody is buying land due to the recession you can put any valuation you like on it. if you can do nothing with it its worth nothing

bobmalooka

Broxi_Bear_Eire wrote: »

They may be valued at that Bobby but as Murray park is a leasehold property and one of the terms of the lease is it has to be used for something similar so who in Scotland is going to pay the big bucks for it also as frontage of Ibrox is listed and can't be knocked down or changed plus getting planning permission for building anything in that area and all round that area is a tip. If you then take in nobody is buying land due to the recession you can put any valuation you like on it. if you can do nothing with it its worth nothing

Fair points but it begs the question, Why are Duff and Phelps (the guys supposedly given the task of avoiding liquidation) putting a value on these assets which makes liquidation the only credible option for the creditors to seek?

It all stinks, D&P and Whyte are gonna be rolling in the cash by the time they are finished with ye.

They have strung Rangers fans along for a long time now and ye dont seem to be questioning why they are taking actions that will liquidate the club while telling ye they are doing the opposite.

PauloMN

BK and the BKs lol, could be a band!

Probably the best option for you, but not ideal. Consortiums are bad enough, but another party now in with the consortium.... too many cooks and all that.

Better than letting Miller at it though imo. He sounds like a nutter.

shankespony

Yes looks like duff & dumber are stringing it out in the hope to maximise their fees on this one and agent whyte wants paid for his successful mission! he bought an institution for £1 used someone else to put up the cash will his profit be the greatest ever profit/return on investment ever when all is said and done. For what its worth i do feel some empathy for the ordinary decent rangers fan and it reminds me of how i felt when celtic were due to be liquidated. What would rangers give for a st fergus now?

Broxi_Bear_Eire

bobmalooka wrote: »

Fair points but it begs the question, Why are Duff and Phelps (the guys supposedly given the task of avoiding liquidation) putting a value on these assets which makes liquidation the only credible option for the creditors to seek?

It all stinks, D&P and Whyte are gonna be rolling in the cash by the time they are finished with ye.

They have strung Rangers fans along for a long time now and ye dont seem to be questioning why they are taking actions that will liquidate the club while telling ye they are doing the opposite.

They have to put what is seen as a market value on them it doesn't mean they would sell for anywhere near that or or even sell. As for Rangers fans not questioning them just because I or others don't post on here what we feel doesn't mean we aren't questioning them I can assure you I and many other bears are continually emailing them to show our disgust and the time they are taking

Dempsey

Broxi_Bear_Eire wrote: »

They have to put what is seen as a market value on them it doesn't mean they would sell for anywhere near that or or even sell. As for Rangers fans not questioning them just because I or others don't post on here what we feel doesn't mean we aren't questioning them I can assure you I and many other bears are continually emailing them to show our disgust and the time they are taking

Careful now, the next excuse will be that they are responding to every email they get! :pac:

Broxi_Bear_Eire

Dempsey wrote: »

Careful now, the next excuse will be that they are responding to every email they get! :pac:

And if you think we are not emailing them then I reckon it proves you have no idea about whats going on

You tell us what we are supposed to do this jams there systems up as was proved with Collier & Bristow

bobbysands81

Broxi_Bear_Eire wrote: »

They may be valued at that Bobby but as Murray park is a leasehold property and one of the terms of the lease is it has to be used for something similar so who in Scotland is going to pay the big bucks for it also as frontage of Ibrox is listed and can't be knocked down or changed plus getting planning permission for building anything in that area and all round that area is a tip. If you then take in nobody is buying land due to the recession you can put any valuation you like on it. if you can do nothing with it its worth nothing

D&P value all RFC assets at about £135m. Your potential liabilities are approx £145m (worst case scenario).

Therefore, according to D&P, liquidation could earn creditors approx 90p in the £.

Miller is offering around 10p in the £ (worst case scenario).

Unless HMRC do a deal it's very difficult to see how RFC will avoid liquidation.

Ibrox will be a very valuable commodity to whomever continues the legacy of RFC as it will enable any Phoenix club to claim legitimacy. Ibrox will continue as a soccer stadium because of this. Ibrox is worth a lot of money because of this.

lubo_moravcik

What's this I'm hearing about Rangers fans doing a human chain around Ibrokes? Are you all going to take part??

ColeTrain

lubo_moravcik wrote: »

What's this I'm hearing about Rangers fans doing a human chain around Ibrokes? Are you all going to take part??

The chain is broke.

bobmalooka

Broxi_Bear_Eire wrote: »

They have to put what is seen as a market value on them it doesn't mean they would sell for anywhere near that or or even sell. As for Rangers fans not questioning them just because I or others don't post on here what we feel doesn't mean we aren't questioning them I can assure you I and many other bears are continually emailing them to show our disgust and the time they are taking

Forget about apartment blocks, once Rangers are liquidated there will be a huge scramble to get control of Ibrokes because Rangers fans will go and support whatever team are playing there.

This new club will be debt free, own all its revenue streams and have instant access to a huge customer base (you and the rest of rangers fans).

This new club will be highly saught after because it will make money and this is why ibrox is so valuable.

lubo_moravcik

bobmalooka wrote: »

Broxi_Bear_Eire wrote: »

They have to put what is seen as a market value on them it doesn't mean they would sell for anywhere near that or or even sell. As for Rangers fans not questioning them just because I or others don't post on here what we feel doesn't mean we aren't questioning them I can assure you I and many other bears are continually emailing them to show our disgust and the time they are taking

Forget about apartment blocks, once Rangers are liquidated there will be a huge scramble to get control of Ibrokes because Rangers fans will go and support whatever team are playing there.

This new club will be debt free, own all its revenue streams and have instant access to a huge customer base (you and the rest of rangers fans).

This new club will be highly saught after because it will make money and this is why ibrox is so valuable.

Apart from the ones who won't support a newco

bobbysands81

bobmalooka wrote: »

Forget about apartment blocks, once Rangers are liquidated there will be a huge scramble to get control of Ibrokes because Rangers fans will go and support whatever team are playing there.

This new club will be debt free, own all its revenue streams and have instant access to a huge customer base (you and the rest of rangers fans).

This new club will be highly saught after because it will make money and this is why ibrox is so valuable.

Hmmmmmm,

That all sounds quite familiar!!!

5 posts previous on this thread...

bobbysands81 wrote: »

D&P value all RFC assets at about £135m. Your potential liabilities are approx £145m (worst case scenario).

Therefore, according to D&P, liquidation could earn creditors approx 90p in the £.

Miller is offering around 10p in the £ (worst case scenario).

Unless HMRC do a deal it's very difficult to see how RFC will avoid liquidation.

Ibrox will be a very valuable commodity to whomever continues the legacy of RFC as it will enable any Phoenix club to claim legitimacy. Ibrox will continue as a soccer stadium because of this. Ibrox is worth a lot of money because of this.

bobbysands81

Anyone know why a 'sale and leaseback' of Ibrox has not been touted by any of the prospective buyers?

I can understand why D&P aren't throwing it out there but any prospective buyer could easily argue it would stave off liquidation.

bobbysands81

I also note that another D&P deadline is set to fall by the wayside according to Scottish media this morning. These fellas are coining it in but looks like they used Miller to smoke out any other would be interests.

Still no Big Tax Case result... the delay in announcing it is unreal.

Jelle1880

What happened now has nothing to do with D&P, they were asked by TBK to delay the deadline, and complied.

This has everything to do with TBK talking to Ticketus, which seems to drag on and on.

bobbysands81

Jelle1880 wrote: »

What happened now has nothing to do with D&P, they were asked by TBK to delay the deadline, and complied.

This has everything to do with TBK talking to Ticketus, which seems to drag on and on.

D&P set deadline. D&P then extend deadline. It has everything to do with D&P!!! They're the ones calling the shots.

Dempsey

The fun will really start when one of these clowns actually take control of the club.

Its amusing that D&P wrote off the only concrete bid as too low.

Jelle1880

bobbysands81 wrote: »

D&P set deadline. D&P then extend deadline. It has everything to do with D&P!!! They're the ones calling the shots.

So if Miller himself (the only one with a bid in at that point) asks for a delay, they should just tell him to **** off ?

Dempsey

Jelle1880 wrote: »

So if Miller himself (the only one with a bid in at that point) asks for a delay, they should just tell him to **** off ?

D&P should have used Kennedy's bid to leverage everyone else to get their act together and meet their deadline.

bobbysands81

Jelle1880 wrote: »

So if Miller himself (the only one with a bid in at that point) asks for a delay, they should just tell him to **** off ?

Miller never asked for a delay (Even if he had the only people able to grant it or otherwise are Duff and Phelps. Duff and Phelps are, yet gain, the ONLY ones responsible for the delay.).

http://www.rangersfc.co.uk/news/football-news/article/2746064

Mon, Apr 23, 2012

AMERICAN businessman Bill Miller has agreed to wait for administrators Duff and Phelps to select preferred bidder status on the sale of Rangers.

Mr Miller had previously stated that he hoped to begin the process of acquiring Rangers today if there were no other bidders but he will now wait while continuing to process his offers.

Duff and Phelps said: "Following discussions with Mr Bill Miller today, he has informed us he wants to progress and discussions will continue between us prior to a preferred bidder being announced Mr Miller has asked us to issue a statement from him to Rangers fans."


Bill Miller commented: "After speaking with the administrators today, I understand that no other bidders have stepped up to offer to save Rangers.As I stated on Friday, if there were no other bids by close of business Monday, I would begin the process to acquire Rangers according to the plan I outlined on Friday.

"To clarify earlier statements in the press, I did not ask for more time to move forward.

"However, at the request of the administrators, I will wait to enter into exclusivity in order to give The Blue Knights/Ticketus more time to put an alternative offer on the table for the administrators to evaluate.

"I will leave it to Duff & Phelps to determine when they want to identify their preferred bidder.

"Until then, I am moving forward with my process and continuing my discussions with all related parties.I can confirm that I did have confidential conversations with the SFA and PFA Scotland representatives.Finally, I will be having discussions with Ally McCoist later to discuss his recommendations regarding the players."

bobbysands81

Craig Whyte is said to be looking for a cool £30m for his shares!

Atta boy Shooter! Hold firm!

Paully D

Rangers banned from signing players for 12 months.

Craig Whyte gets a lifetime ban.

Dempsey

Paully D wrote: »

Rangers banned from signing players for 12 months.

Craig Whyte gets a lifetime ban.

That will have the investors kicking down the door! :pac: