Rangers Rumours Archive April 18 2012

18 Apr 2012 22:44:57
Glad to hear that Kennedy is back in the running, I would prefer him to Ng or Miller. I know he is not flavour of the month at Stockport but he is the only one who has made it absolutely clear he does nt want liquidation. To be fair the blue knights have also said that but I think the fact that Murray was on the board previously always was a concern.

I really am concerned at the Singapore and American bids will end in liquidation, they are after all not aware of the history, and are only in it for dosh.

I fear Mr Whyte may not be keen on Kennedy as liquidation is what Whyte wants.

I just really wish it would hurry up, let's have a decision on preferred bidders this week and get on with it.

One question,why havent the the fans done ANYTHING?....algarvebhoy

His original offer was �5m.As far as we know,Ng has a �20m bid in.Unless he,s bid more than this he's wasting everyones time.He's getting good publicity,though.
Whyte says one thing then does another.D & P are burning cash at a rate of around 400k a week.We could run out of money as early as next week.I hope not but it's a fact.ALL bids are loaded with conditions,who would buy RFC with all the uncertainty hanging over them.Get real guys.We're in big trouble and unfortunately,liquidation and trying to start a newco looks the only way out.Hmrc will not deal on a CVA,especially at something as low as 10p in the pound and CW,whether we like it or not,still owns the place and almost certainly a floating charge on our assets.He'll take every penny from these bids,nothing left for creditors.We should start using our heads instead of our hearts.It's almost certainly newco(which won't be in SPL next season)or nothing.We have to decide,will we support new club,or stay away.Unfortunately,I don't see any other solution.

I actually agree, the Celtic fans took to the streets and demanded change, and got it. We have done nothing but the occasional boo here and there. I do believe that there was also the fact that we were winning, it is difficult to critise when winning. I know believe the fans want to own a part and will put their hands in their pockets if given the chance. As for the fighting fund, people don't want to give if they think Whyte or Duff will get their hand on it. Whyte has already used our money to buy the club, we ain't giving him any more.
The real test will be if and when a share issue is floated, will we buy them?
Our past history suggests, no, but the last share issue that Murray launched, he stated that if we didn't buy them he would, hardly the best sales technique.

This is smoke and mirrors from Kennedy, he's disingenuous.
He's bidding less than the other two.
D&P need to call his bluff quickly by asking for 500k upfront non refundable. Watch Kennedy walk away.

Celtic fans did nothing until the day before they nearly went down , apart from that you saw the banner here and ther , when fergus came in the country wasn,t in meltdown , thats the difference

Strange poker game where you throw in your hand and then when the others show their cards you quickly pick back up your cards and declare yourself back in the game.

He is right about one thing, there is a chance the preferred bidder under a CVA changes its mind, and liquidates. The administrators accept the highest offer, there are no conditions regarding keeping it as a going concern. It is fairly easy to justify liquidation due to unforseen or new difficulties with the takeover.


What it does give is a general worth of the company when bidders are all around the 5-8-12-20 million mark. This would suggest that at best HMRC are getting 10-15p in the pound on their debt.

I don't accept the premise that liquidation is inevitable, the 30 million floating charge, loss of player contracts, plus the preferred creditor status of all employee redundancies, reduces the value
of the assets to next to zero.
The only thing that could justify the decision to liquidate would be the potential value of the stadium-park, but it would have to be over 55 million.

If CWs floating charge stands(I know D&D say they can challenge it,they've had 8 weeks to do so and haven't,why?.)then he'll be taking all or nearly all of the value of any assets.therefore,whether it be a CVA(unlikely)or Liquidation,there is going to be next to nothing in the pot for all other creditors,including HMRC.That's why,if HMRC know they're getting next to nothing,they will liquidate.It sends a message out to everyone else,PAY YOUR TAX.
To them,it's still a result.

Kennedy is in out in out put up or shut

18 Apr 2012 20:36:59
Brian Kennedy makes 'improved offer' for club, BBC sport football website.

We'll see where this goes.....

JD1872

Nowhere i wager

Safe bet!

18 Apr 2012 20:32:53
I may be wrong but does anyone else remember when the BTC tribunal finished that the judges had to give a verdict within 90 days?

If so the 90 days are up this week.

Disclose the outcome NOW! this farce has gone on long enough, any sane person can see they are clearly guilty & should be punished accordingly.

'They' are clearly guilty? Away back to your own page and stop obsessing over us.

This IS the Rangers website?

Or is it just me?

bill72

Is it ninety working days or actual days

Is it possible that High Court Judges could start behaving like SFA referees and start giving results for Rangers?

And you wonder why people say Celtic fans are paranoid with silly questions like that

Www.rangersrumours.com. note the RANGERS part! Why can they not stop obsessing over us and our current issues.....anything to do with not being able to win anything outright and on their own this year. Hey they even needed the back door to get into Europa league. Pathetic. You've won the league enjoy it for once, and stop focusing on us. I for one couldnt care less what is going on at septic park. WATP whether it ends in 2012 or goes on for many more a glorious year we will always be simply the best.

I think you will find the league has been won fair and square and outright even if you didn't have the 10 point deduction!! Celtic didn't get in to the Europa league through the back door, they won the right to enter and paid all the bills in the process and had to play another team who cheated ( ring a bell? ) and that team were correctly kicked out. I think you do care what is going on in Parkhead. It's hard to see how you can say you are the best because you have won nothing this season and got put out of the two cups early and Europe early. In terms of how your finances are run, you are not the best either are you?

BTC was gone - they're taking time to calcuate the interest on the years of theiving...............dunno how peops can see calculus so clearly.

It is like a loss adjuster's job x 1000,000

But you are not the best come back when you have won the big cup. You know Murrays obsession with emulating big jock's men is why you are imperilled

Good god - - THE BIG CUP argument!!!

is anyone still alive that can rmember that far back aprt from Geoff Hurst?

bill72

No time limit for FTT judges to return their finding.

Das Shadow

18 Apr 2012 18:22:38
I've always been surprised that Alastair Johnstone never put a bid in for Rangers.

Johnstone is a director for one the biggest Sports companies IMG in the world, operating in 30 countries dealing also in fashion and media,representing over a 1000 pro athletes and are involved in the EPL

If you do want Rangers to carry on and only want the best for Rangers, why not you put in a bid for Rangers. Why not ask Michael J Dolan the CEO of the company if he would be interested.


Or is it case he knows the full depth of the problems at Rangers and knows himself its not a good investment.

Das Shadow

Nobody with any business sense would touch RFC with a sh*tty stick - to many debts and minefields currently far less future "I sue you", no "I sue you back"

He was on an EBT?
Remember Johnson is a salaried employee not a mega millionaire money man.

The wee bit about "not a good investment" probably answers your own point...algarvebhoy

Why does Johnson keep popping up every few weeks stating the bloody obvious that everyone knows?
He was the Chairman for several years of a grossly Mismanaged company ffs.

When he was chairman the debt went down though. The big tax case is the problem!

Lloyd's Bankers professionally managed the debt down against the wishes of Johnston and Paul Murray who wanted to spend more on the team for Walter.

LLoyds forced the debt down not him.

Truth should not be the enemy.

Mr Johnstone joined the board and get the debt to a manageable level when SDM pulled the rug from under his feet. He was the man that warned us about you know who.

18 Apr 2012 17:48:13
Ng - a specialist in debt and company restructuring, think I heard this when CW was taking over. God help us.

Yeah let's rubbish him before he's had a chance.

The quote I love from Ng goes roughly...........dunno much aboots soccer but my kids love it, they taught me the offside rule.

Couple this with the fact that his current toy has a max capacity of 2500 and we're sound under this new soccer emprisario.

God only helps you once - he gave us the right to help ourselves

18 Apr 2012 16:57:13
Fellow bears, how can we look at signing any players for next season? Even if we manage to stay afloat and agree a CVA surely we won't be allowed to spend money on transfers if we are too skint to pay our deptors? Think we will need to promote from within.

Will be a youth team next season to fill the gaps.

Not 100% sure how it all works tbh but was thinking it might be possible if we win the big tax case and the creditors accept CVA's to be paid over a period of time, heard Bill Ng apparently said he was looking forward to talking to Coisty about new players for next season if his bid is successful, nobody realy knows what sort of money the winning bidder will have.

I know !
We used to call it monopoly money !
RFC pass go and go directly to JAIL !

"Newburgh "

RFC lost the BTC, this is an appeal against the amounts estimated. If a CVA is agreed then the slate is clean, new investment is irrelevant..

PLEASE DON'T LISTEN TO THE IDIOTS WHO STATE HMRC WILL NOT AGREE TO A CVA, THE ALTERNATIVE IS NOTHING OUT OF LIQUIDATION.

Do you really think all these businessman would be wasting their time bidding on a CVA if it was certain HMRC were going to reject it ?

Rangers will be crippled for 3 years but will survive, you can not really ask for much more out of this mess.

After a CVA, the owner can inject more money into the club, as its debts will have been settled.

HMRC would get quite a lot from liquidation probably.

Why would would HMRC be waiting on how much the big tax case is going to be if they are then going to let rangers off with a cva
Don't think so they will hold out for liquidation and take what they can from the rotting carcase !

The plans of mini-Murray are based upon giving debtors (mainly the public) a pittance, then afterwards having a share issue which boosts the coffers and so could potentially mean player investment. Not sure how that'll sit with the public us buying players after ripping them off for so much.

18 Apr 2012 15:33:44
Representatives from the Capital Shopping Group (the company that developed braehead) were spotted leaving ibrox today.

Nonsense, glasgow has too many shoppig centres

Oh aye because they are such recognisable faces april the 1st has passed you clown !!

Gers1986

..Aye right..the comedy page is that a way.....>>>>>>>>>

Capital Shopping Centres Group PLC is a business of substance, owning Braehead, Lakeside and numerous other big shopping centres.
Rangers FC Group Ltd also appears now to be a subsidiary of this group.
This is truly a web of gargantuan proportions being woven.
It seems that one subsidiary of a shopping centre group now owns Ibrox & Murray Park whilst another has a fixed & floating charge over them
14 (shopping days) to 0 (liquidation) – at most

Holding company for Craig whites directorship is very large shopping centre concern - eildon square and the like

Sane Bear

Oh aye coz there going to build another shopping centre within 2 miles of braehead. dont be so bloody daft.

feeny

Their is still 650,000 sq ft of retail space AVAILABLE at braehead if they cant lease this what hope do they have with IBROX ?

Im a gers man here but dont believe this. but could open a new centre 100 yards from braehead if they wanted coz braehead is in renfrewshire council not glasgow but very close to the glasgow / renfrewshire split if im not mistaken

And you recognised them how?? Oh yeah must have been the Capital Shopping Centres sweat shirts they were wearing. Or was it because they are household names and everyone knows what they look like

Posts 2 and 9 are pure class. first laugh I've had today :)

Whyte has a history of naming companies with similar names to recognised,well established corporations.RFC group are most certainly NOT a subsiduary of Capital,who own braehead,etc.It's the kind of deception CW excels in.

18 Apr 2012 12:26:25
Just heard that D&P wont announce the preferred bidder until the end of the season due to an
enquiry by the scottish office. It is not
expected that a decision will be made
until the end of the season to allow for
all enquries by the scottish office and the
footballing authorities are satisfied that
a rescue attempt by a foreign buyer will
be in the best interests of the club itself.

There are also fresh concerns over rangers ability
to pay any creditors anything due to the club
running out of money by May the 1st.

Dont talk utter p**h. Where did you pull
that from. Your a**e !

So on the basis of the Scottish Office & the SFA - it would appear the 'best interests ' of the club - in their opinion - is to let it die!!

I don't effin believe this anymore!!!

bill72

Rangers cannot last until the end of the season, thats why everyone is putting the pressure on D&P to announce it this week. Surely the Blue Knights or Brian Kennedy would not need this if they are scottish?

Source?

Then why did they release a statement on the club website saying they hope to announce the preferred bidder this week?

BigBear1873

I very much doubt this rumour, it has no source nor logic attached to it.

Complete rubbish, yet again another tool making things up.

Don't even justify this morons comments with a response. No name no source no chance!

Blue Stu

Who are the Scottish Office? There is no such body as the Scottish Office. This was the name for the Scottish Executive - that then became now known as the Scottish Government.

So for this reason alone - this post is rubbish!

Utter tripe!!!....ballbag!!!

You just did

I've had enough, it's like they want to keep stringing us along till the end of the season to get the money in before liquidating us. I've ripped up my season ticket and won't be going back to Ibrox.

1, Scottish office of fair trading always puts checks upon foreign buyers of any company that is in administration.
2. Duph and Phelps said they would announce two weeks ago, then last week, now this week but can't until the SFA have clarified their punishment for clubs and this has been ratified by both Bills!
3. There is money to run the club until the 1st of May but Ticketus were thought to be providing capital to continue after this date which is only on the basis of a deal being struck with a new owner.
4. Blue Knights and Kennedy will not happen ever.
5. This week Duph and Pelps will come up with another excuse as to why there is no prefered bidder.
6. My name is Gaz and have a friend who works in Ibrox!! This is not rubbish He is just just a fed up employee and he himslef has given several stories to the daily mail. Watch these predictions come true then you will change your tone lads.

To the guy who has "had enough"..not a very good way to support our team..these are times when us bears have to stick together..or are you just a good times supporter? get behind the team..fu*k the administrators...support the team properly!

Gaz,

If any foreign owner needs checking then its hardly going to hold up any proposed sale. No sale can take place without the debt figure from the BTC. As for running out of money and needing 500k to keep the lights on, D&P calculated 2 months ago they had sufficient funds to trade until end of season, they are accountants, they can count up to 3.


I assume your mate is the toilet cleaner.

D&P's will anounce the preferred bidder by the end of the week, this bidder will be checked out( if needs be) while it carries out 2 weeks due diligence. In the meantime everyone awaits the final debt formalisation from the BTC.

D&P's have no need to delay anything, the BTC does that, there can be no CVA or sale wihout the debt figure.

You've discredited your own rumour by saying that rangers will run out of money on 1st may. If that's the case then theres no need to wait till end of season for a preferred bidder cause they won't exist by then!!!

To the person saying I should get behind the team. No. As I said. I've had enough. Where's oor money gone. To a bunch of rich players, where are they now, to some greedy directors, where are they now, to the adminstrators !! Enough is enough. I'll be supporting Partick Thistle next year.

I agree with the above poster...Fans and the Club must be as one. Rangers fans are being treated as a commodity by the money men opportunists and scoundrels. You guys should make your own Newco based on fans ownership. Do what you have to do or it really is the end, the guy above is a decent fan but has seen the light. Hire Hampden develop a bunch of juniors and kids get organised for FF sake! I want to be able to enjoy seeing you guys as runners up more often. I cant do that if you are in the 3rd division permanently! Sopot Celt

The post itself is nonsense. There is however a Scotland Office and the Secretary of State for Scotland is Michael Moore the Lib Dem MP. The Scottish Executive was the original name for what is now called the Scottish Government and is part of Holyrood, whereas the Scotand Office is Westminster based.
I really must get out more.

If you believe D&P the preferred bidder will be announced by the end of this week.

Has there ever been a week that wasn't supposed to end with the anouncement of a preferred bidder. I'm sure it will happen eventually I'm just not sure when

Run out of money have you guys no concept of whats going on hear they have ran out of money a long long time ago there is no money and everyone is in about rangers for money that is not there .why take rangers to court for money there is no chance of gettin it even if you win the case .its a load of smoke and mirrors its finnished big time all over and everyone knows it from d&f to all the bidders the sfa the tax man murry white ma dug even knows its finnished ...jc

I can understand (to a degree) some Celtic fans gloating over the Rangers predicament as payback for the McCann era abuse, however to wish liquidation on your biggest rival seems a tad obsessive.

I suggest some need to get a life, football is a game.

18 Apr 2012 09:08:42
Hi ed. Tried to send scanned copy from Singapore Straits times. Anyway, reporting here (singapore) that BK had problems raising the 500,000 pounds due to Ticketus leaving the table. Bill Ng is hopeful as he does not intend to liquidiate the club like the US bid by Miller wants to. Bill Ng also denying a deal already done with Ticketus in fact they say her that Ticketus approached Bill Ng first. The times here also says that it cost CW over 52 million to buy the club? I thought he only paid 1 pound in hard cash? {Ed001's Note - they must be including all the costs the club and administrators are ringing up since he took over.}

18 Apr 2012 00:05:14
Hi i may be missing something here but just listened to an interview on bbc website witha guy who claims that he interviewed bill ng a cpl weeks ago and he intends to put £20 mil into rangers..now forgive me if im wrong but thats a dent in the ocean surely and will make little difference to our current plight? am i missing something here?

This whole process isnt adding up deffo something fishy going on rangers fans are better than this

Im glad you said that i posted that and youd need to be dumb to believe theres something ridiculous about the whle situation..it stinks...

jim

Feels like there is a coordinated plan going on, from Lloyds and SDM to CW and D&P.

Too many coincidences and the same names cropping up in different companies associated with the main players in the saga.

Adds up to a slow death for RFC.

The twenty million got discussed to death in here.
It's to buy the Assets from CW and then offer CVA to Creditors over 10 years. Problem is, as stated, it isn't enough.
It makes sense if it's for buying Assets from Whyte. Period. Then liquidating and Creditors getting nowt.

TBK couldn't scratch 500k together. They then used the excuse that Ticketus had done a better deal. Both Ticketus and Ng deny this!
Who do we believe? Why were Ticketus being stiffed for the 500 large?
We were sold Paul Murray as a man of impeccable honesty and integrity. Is he lying regarding Ticketus?

Dent in the ocean!! Clever post.

�20 million this wouldn't even cover CVA
Listen and listen GOOD Ng Bid will collapse very soon
! It's all made up Bull***t

Briggies"

Doom mongers. Let's wait and see what the plans are before we pull it apart.

Is it not �20 million into the CVA pot for the creditors?

First off, CW is not a major creditor under any CVA. Secondly, 20 million is an offer to all creditors which is far more than they would get through liquidation. Ticketus know this which is why they are trying to do deals wth all perspective buyers interested in RFC as a going concern. Ticketus want to be removed as a creditor to enable them to be paid in full....or as near as.

If the club is liquidated most of the proceeds go to CW as a secured creditor and redundancies which are preferred creditors.

Singapore papers also say 20 million but they say 12 million of it is to pay off existing debts and hope deal with Taxman etc can be done

If you remove Ticketus and the Rangers debentures as creditors then you are left with HMRC. They get nothing in liquidation and will accept 10 million under a CVA. All this speculation that HMRC will not do deals on obvious tax avoidance is tripe, as long as CW is not the new owner after a CVA then HMRC will accept the highest offer.

HMRC has received more pubicity than they could have dreamed of regarding EBTs and tax avoidance, driving companies into administration is just as powerful a message as driving them into liquidation.

From what I gather it is worked out like this:

Debt > �135m

They have taken off the BTC which leaves �65m. He will do deal with Ticketus reducing this further to �35m.

Pay �0.20 in the �1 > �7m
Pay CW something (UNSURE �)
Remaining working capital.

That is the way I see it.

Only problem is when/if we lose the BTC what happens to that �75m?

Even at �0.20 in te �1 still leaves �15m outstanding

Why would anyone take off the BTC, its been the elephant in the room since Jan 2010 ?

The delay by the adminisrators is because they can not formalize the debt figure due to the BTC, now you are suggesting its irrelevant.

Nobody gets the club until the end of the season. By that time BTC is known.
It all depends on BTC.