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Stop press: charade continues

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Prospective Rangers owners, Brian Kennedy and the Blue Knight (I refused to continue to pluralise a singularity) have submitted a joint bid for the club, which they consider to be “substantial”, which should mean it’s worth a lot more than the £11.2m Bill Miller spoke about last week.

The offer is conditional on a CVA being approved and Craig Whyte’s shares being acquired.  For a CVA to be put to the unsecured creditors, the secured creditor, Craig Whyte, would have to be satisfied first.

Whyte’s security as a creditor is valued (by him) in the order of £30m.  All proceeds from the sale of the club up to this value go to him unless he waves his rights or is subject to lengthy legal challenge.  Only money over and above this value will be available to the non-secured creditors, most importantly HMRC and Ticketus.

So, unless Kennedy and the Blue Knight have bid considerably north of £30m, we’re not talking pennies in the pound, we’re talking pennies in the £100m.  In the event a CVA is concluded, Ticketus own circa the first 25,000 tickets sold for each game for the next three years.

Apologies for repeating the same story now for ten weeks: Craig Whyte is the only show in town, he always has been.  Unless you agree to purchase his shares and security, any bid is a fantasy.  I think I can hear Mr Whyte laughing from here.  Perhaps they’ll now stop blaming Raith Rovers.

Apparently, the charade continues.

One team in Glasgow,
There’s only one team in Glasgow.
One team in Glasgow,
There’s only one team in Glasgow.

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  1. !!Bada Bing!! on

    I hope the ole Scotland’s Shame banner is being dusted down for Sunday,never been more appropriate

  2. RogueLeader on 27 April, 2012 at 16:30 said:

     

     

    £134m of unsecured debt.

     

     

    £28.5m of secured debt.

     

     

    You have offered £12m for the lot.

     

     

    Explain how that works please?

     

     

    Re-posted for the hard of understanding….

  3. RalphWaldoEllison-is Neil Lennon Season 2011-12 on

    Sunday is their last hurrah or should that be Hullo, Hullo.

  4. Duff&Duffer one week ago.

     

     

    “Despite suggestions to the contrary, it is not a case of the administrators refusing to nail down their choice – we can only accept a bid that is unequivocal.

     

     

    “It should be reiterated, however, that no unconditional bid has been tabled by any party.”

  5. Paul67.

     

     

    You must be bored having to write the same old story about supposed new bids every week. Time for FTT to drop the big atom bomb – only wait until Monday after we have spanked them for the last time

     

     

    HH

  6. traditionalist88 on 27 April, 2012 at 15:54 said:

     

     

    Meanwhile OG Rafferty’s latest little gem is being held for a few more days…

     

    =============================

     

     

    what did I miss from OG ???

  7. tomthelennytim on

    From last blog;

     

    Duff and Duffer with a textbook display of how to make a deadline a dead and buried line.

  8. TWO men who sent suspect packages to Celtic manager Neil Lennon and also to two high-profile fans of the club have each been jailed for five years.

     

     

    Trevor Muirhead, 44, and Neil McKenzie, 42, from North Ayrshire, sent devices they believed were capable of exploding and causing injury.

     

     

    The men were found guilty of conspiracy to assault Mr Lennon, former MSP Trish Godman and the late Paul McBride QC.

     

     

    Celtic Chief Executive Peter Lawwell said: “We are pleased with the way in which this case has been treated and once again we would like to thank Strathclyde Police for their support and assistance.

     

     

    “Regrettably, Neil over many years has been the subject of various attacks. We hope this sentence will send a signal to others that this kind of behaviour cannot be tolerated.

     

     

    “Neil and his family have shown great courage in dealing with this particular episode and, clearly, they continue to have our full support.”

  9. Couple of points I presume that they do not have to pass over the £500k until the bid is accepted.

     

     

    If the conditional bid is accepted and the conditions are not met do they get the £500k back?

  10. The Rangers Whining Fund has now amassed 100,000 complaints.

     

     

    Nobody but nobody can lash out like these blueboys.

     

     

    pigalle

  11. traditionalist88 on

    paulsatim is neil lennon

     

     

    There were suggestions from OG of a rather big story breaking on Wednesday afternoon/evening which would have rendered the transfer ban/appeal situation negligible, in the scheme of things.

     

     

    The story hasn’t broken yet though…

     

     

    HH

  12. Dontbrattbakkinanger on

    I would strongly advise Craig Whyte, if he values his hard won investment, not to have anything to do with these men.

     

    THere are a lot of shadt characters out there, charlatans and mountebanks, who will promise you the Earth and then when your back’s turned they steal the sugar out your tea, and send you a huge bill for tarmacing your front lawn.

  13. 67Heaven ... I am Neil Lennon..!!..Truth and Justice will always prevail on

    Is this why they are trying to discredit Whyte through the courts (the investigation of the takeover from SIR DM) ..?…..I’ll get my coat, all a bit confusing now……LOL

  14. Beram Kayal could be back in the running to make an appearance in this weekend’s derby match following a quick-fire return from injury.

     

     

    Ironically, it was in the last derby meeting at Celtic Park in which the Israeli internationalist received the injury which has kept him on the sidelines since then.

     

     

    However, coach Alan Thompson has been delighted with Kayal’s rehabilitation and the player is now close to a return despite an injury which was expected to keep him out for the rest of the season.

     

     

    Thompson said: “He’s worked hard and I think he’s been one of those players that the physios have enjoyed working with.

     

     

    “Everything he’s been asked to do, he’s gone about doing and that’s why he’s come back fairly early from the injury he had.

     

     

    “We’re thinking about having him in the squad. We had a tough session this morning and we’ll see how he reacts tomorrow before we decide that.”

     

     

    On the other injury fronts, he added: “Most people are fit really. Beram’s back in the squad as he’s trained for a couple of weeks now so he’s in the running but, obviously James Forrest isn’t and Mo Bangura is back training so we’ve got a decent pool to pick from.”

     

     

    Among those in that pool is teenager Tony Watt who came on as a sub last week at Fir Park and transformed Celtic’s fortunes in the game by scoring the first two goals in the Hoops’ 3-0 win over Motherwell.

     

     

    The coach said: “Tony is a player who will possible get stripped on Sunday although I don’t think he’ll start the game.

     

     

    “He did fantastically last week but this is a big game for us and one that we’re looking forward to but I’m sure that at some stage the lad might play a part.”

  15. johann murdoch on

    From D&P

     

    “this time not like the last time its the same as last time except this time we really are nearly where we were the last time..thank you and goodknight”

     

     

    *more fees..nice*

  16. Tim Malone Will Tell on

    I like Ayatollah Ally’s style – dragging up the ‘Old Firm’ angle.

     

     

    Perfect solution for the appeal would be for the ‘Old Firm’ to be fined and have their license withdrawn – that seems fair.

     

     

    P.S. When asked if he was a Sunni – Ayatollah Ally replied “naw – I’m shi-ite actually”

  17. Jelly And Gelato on

    How can Ticketus be creditors AND still own 40% of the next 4 years seasons tickets. Surely they are one or the other?

  18. Will their (futile) attempts at a CVA include the big tax case, the wee tax case, the last year tax case, all of the above???

     

     

    What are FTT waiting on. Its cruelty, just hit them with the killer blow!!

  19. Ronaldo LotsOspin ‏ @Ronaldo LotsOspin Reply Retweet Favorite · Open

     

    Dolly&Parton have just said in an Un-Official “Official” statement, we have cut the Huns Players wages by 75%,50% & 25%, And we are the ONLY feckers who are getting Paid Top Dollar, so get it right up ye, ya Thick soon to be Hi-Brid- Liquidated Hun Feckers..

  20. traditionalist88 on

    Liquidaaaaaaaation,

     

    In the heart of Govan,

     

    The huns came in their thousands,

     

    To see the Big Hoose,

     

    Get bulldozed….

     

     

    Liquidation….

  21. I reckon the Big Tax Case report will come next week. They didn’t want to release it this week before Sunday’s game because of the anticipated reaction from the hun hordes.

     

     

    It has taken a long time – but if there really are 75 players involved as has been mentioned, that’s an awful lot of paperwork to go through.

     

     

    Should make it clear this is total speculation. I, as regular readers will have worked out a long time ago, know nothing.

  22. Tim Malone Will Tell on 27 April, 2012 at 16:44 said:

     

    I like Ayatollah Ally’s style – dragging up the ‘Old Firm’ angle.

     

     

    Perfect solution for the appeal would be for the ‘Old Firm’ to be fined and have their license withdrawn – that seems fair.

     

    ————————————————-

     

     

    Good point. These ‘Old firm’ fans have been conspicuous by their absence of late. Where are they when one half of the clubs they support are in bother? Nowhere, that’s where. They have run and hid and are letting their beloved Old Firm die.

     

     

    When was the last time you saw one of them in their half Celtic half rangers scarf singing ‘Old Firm til I die’ or ‘We are Old Firm supporters, faithful through and through’ yeah right.

     

     

    Tim Alone – you have unearthed the biggest scandal of the lot here. The running away and hiding of the Old Firm Fans.

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