The Rangers Saga and Fallout Thread

Status
Not open for further replies.
Billy Ng announcement today that he's withdrawn his bid for Rangers. It leaves Brian Kennedy's rejected verbal offer and Bill Miller, who wants to liquidate the club and start a newco. Ng's statement blames "concerns over deliverability of shares" so I wonder if Whyte is wanting his cut?
 
Last edited:
Ng was never seriously interested, neither was Kennedy going by the size of his bid. I dont think anyone seriously is interested in saving Rangers other than the blue knights, this american guy will just do what Whyte has done if given half a chance.
 
Metalface Mark said:
Ng was never seriously interested, neither was Kennedy going by the size of his bid. I dont think anyone seriously is interested in saving Rangers other than the blue knights, this american guy will just do what Whyte has done if given half a chance.
Click to expand...

At the moment liquidation is looking more likely given the administrators dragging out the bid process until the end of the season so Rangers can complete the fixture list, or until tax case result is known. Wages etc back to normal soon so they'll need to sort something out and from what the authorities are saying in the media that'll be newco in SPL or new league.
 
Yeah the administrators last night were saying they hadn't received any firm bids for the club from any of those who has stated an interest. None of them were even willing to stump up £500k to get to the head of the queue.
 
Jokester said:
Yeah the administrators last night were saying they hadn't received any firm bids for the club from any of those who has stated an interest. None of them were even willing to stump up £500k to get to the head of the queue.
Click to expand...

And rightly so, they wanted a 500k non refundable deposit just to be preferred bidder, thats a total joke, theres a multitude of reasons why deals wouldnt complete and 500k is nothing to be sneezed at.
 
Duff and Phelps now require "unconditional bids" before they can name a preferred bidder.

Well there is only one offer on the table, from Bill Miller, but it carries conditions.

Dont understand why D&P are now demanding unconditional offers. I think the end is close
 
Metalface Mark said:
Id dance naked down the street if they take Celtic with them.
Click to expand...

We all know that wont happen. Luckily for the rest of us, seeing a grown man with his wee pecker hanging out while running down Buchannan Street would scar us mentally forever ;)

The Mightly Glasgow Celtic are a well run team, with a maddie for a manager :D
 
Good to see the administrators sticking to their guns and making sure that if the club is bought it won't end up in the same mess. Shame liquidation is probably the only sensible choice now though
 
I must say I'm surprised by the comments of duff and duffer last week.

After the players took a wage cut they said happily this will allow Rangers to continue until the end of the season. Yet Friday they are bleating on about having to do a deal by Monday.

Don't tell me even administrators getting 300K a week can't count the finances?
 
I think Rangers should sue Duff & Phelps as D&P are doing a lousy job :)

Just read on BBC website there is not expected to be any concrete offers by this latest deadline of today. Not that deadlines have actually mattered.

Bill Miller wants assurances from the SPL and SFA that Rangers wont be punished in any way - never gonna happen.

The Blue Knights still cant agree with Ticketus - not sure what to make of that tbh.
 
The players go back to standard contracts on 1st June (or so I've heard) so not far away now, then some will be able to walk away (should that be step back?) on cut price deals so anyone buying the club will want to get a deal in quickly.

The current bidders all seem to have their own reasons for not paying the £500k for preferred bidder status. I don't think any announcement will be made until after the SPL meeting on the 30th April to see if any further punishments are coming from the league or from the investigation into dodgy payments. We still don't know when the results of the big tax case appeal are being announced yet do we?
 
afraser2k said:
We still don't know when the results of the big tax case appeal are being announced yet do we?
Click to expand...

Nope, not sure why it is taking so long tbh.

So whats timeline for agreeing a CVA and coming out of administration etc?

I thought I heard somewhere there is a period of 28days for a CVA to be accepted\refused and a 3 week process to come out of administration.

That takes the timing pretty much to mid\end of May, barring no hiccups in any part of the process.

Anyone any ideas?
 
jamesy505 said:
I think Rangers should sue Duff & Phelps as D&P are doing a lousy job :)

Just read on BBC website there is not expected to be any concrete offers by this latest deadline of today. Not that deadlines have actually mattered.

Bill Miller wants assurances from the SPL and SFA that Rangers wont be punished in any way - never gonna happen.

The Blue Knights still cant agree with Ticketus - not sure what to make of that tbh.
Click to expand...

There is rumours that HMRC have launched an appeal to get them removed and replaced with their administrators.

Liquidation is the only way forward anyway, Haudit and Daudit are only doing what every administrators do, they take what they can for themselves and leave a carcass for the real creditors to fight over.
 
Status
Not open for further replies.
Back
Top Bottom