Stop press: charade continues


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. The deadline is made of concrete. And it has wheels.



    Fun Time said he had been advised there was going to be a new deal – but he wasn’t informed who the bidders were.



    Guess who?



    Knights in blue satinet & Beefy Kennedy



    Where did these dudes appear from? Anybody got any gen on these Captains of Industry?



    They appear similar to they other chancers – you know, the bunch that have difficulty finding £500k to kick off their ‘substantial’ offer and that rugby guy who offered £5m the first time around…



    Roll on Monday, roll on the deadline…




  2. I don’t think the FTT will be placing the decision at the best time for them, imagine it will be worded so that the technicalities are covered and the decision is tight,either way. If guilty, the cost could then take some time to construct,should each individual form a penalty

  3. Not so cynical about Duff and Phelps spinning out of admin period. they have 3 weeks worth of cash left by their own admission. how else can they spend it?



    They can’t pay anyone because they have to pay everyone or no one at all other than running costs.



    Give Duff and Phelps a break. I think they are doing a great job.



    By the way just off the phone to them. Made a conditional bid myself. I will buy them pay off every penny they owe and then liquidate them. On the condition I can find £150 million by Monday.



    Away to check the back of the sofa.

  4. Celtfish, ah, transparency.



    craigwhitesoptometris, deleted, language.



    ToneLoc, indeed.



    paulsatim, ha!

  5. What a strange occasion Sunday is going to be.



    as always I want to beat them with the very core of my being, but strangely it doesn’t really matter for once in my life. I even had a little mental image of watching the pie eater celebrate if they score and wondering why he’s doing it, laughing at him.



    still the players owe themselves and us a performance and a victory. So go get ’em. there are a few faux hard men that need straightening and a score line or two need reversing – no mercy.

  6. ‘Rangers, like Real Madrid, are more than a club. They are the irresponsible play thing of fascists, secret handshake brigades and the establishment.’




  7. paulsatim,16:38


    traditionalist88, 15:54



    There was a meeting held on wednesday afternoon – it could have lasted the one day but I would suspect not.


    By the nature of what was discussed and what has happened this week already, coupled with Celtic playing Rangers on Sunday, it was always very unlikely that anything would be made public before then.


    I would guess then that it would be made public sometime next week, but it is just a guess

  8. The Narrowbhoat Tim on

    I once seen Brian Kennedy and the Blue Knights at the ol’ Burns Howf, they were rubbish they couldn’t hold a note and now they can’t even hold a banknote

  9. How many permutations have we had?



    TBK and Ticketus




    BNg and Ticketus






    and now, TBK and BKennedy



    I’ve probably missed some. Looks like D&P just want that £500k to tide them over.



    Hurry up and get yer Rangers – once they’re gone, they’re gone!

  10. from Orc rumours


    27 Apr 2012 16:32:52


    If the crux of the RFC argument is that the 12 months transfer embargo impedes the sale of the club. Does a Kennedy/TBK unconditional bid today not undermine that arguement, in which case the appeal is a waste of time?

  11. johann murdoch on

    BSR..I am hearing on good authority that there might be a certain well known pasty shop opening near the ole gazebo in the near future….hmmmmmm




    *anyhin else i can get ye!*

  12. charade indeed.


    Why do Murray and Kennedy keep doing this? I’ll tell you why – this will continue until the tax tribunal at which point all “offers” will be pulled citing the tax burden as the reason therefor.


    I were a rankers fan – and praise the Lord I’m not – I would want this to come to an end now so that if any rebuilding is to begin, it happens now.

  13. The Token Tim on

    RT @ 1700hrs,



    I have never wanted to beat them more!



    They are going down and are lashing out at everything and everyone…….even wee cheeky chappie’s mask has slipped and we can all see the horrible, twisted gnarled true features that have lurked beneath the facade for all too long (except for the odd few times playing and on the sidelines V a certain team in Green-and-White!).



    To anihilate them on Sunday would give me soooo much pleasure.


    Rubbing salt into their almost innumerable open sores just now and seeing the agony on their putrid faces will give me such a warm glow.



    the sooner they are put down like the rabid dog they are the better!






  14. Driving home there I had the radio on. As the weans wanted to listen to music, it was tuned to Clyde and I had the misfortune of hearing the news at 4 O’clock.



    First up was the latest farcical situation unfolding on the south side. Apparently the shady knights have teamed up with the thousandaire, that is Kennedy, to launch an audacious new bid for the rotting corpse that is RFC.


    Let’s not forget that this is a bid borne out of not merely necessity but desparation and greed and is a consequence of years of cheating and avoidance.



    The second item was the manager of rangers claiming that he had nothing to apologise for regarding his statement on Tuesday demanding to know the identities of the 3 members of the independent SFA enquiry, the names of which he already had. Yet in pandering to a volatile support he chose to play the martyr card and in doing so put safety and possibly lives in jeopardy.



    The next item concerned the 2 bombers in the trial involving 3 high profile Celtic supporters and Catholics and how one of them would be appealing the 5 year sentence handed down to him.



    This is, in part, the fabric of Scottish society according to our most senior politician Alex Salmond. And people want to maintain and uphold this?



    Well it’s a no from me.

  15. Paul67 et al



    You just got to admire duff and duffer for hanging on in there.


    Just like our hero Craig whyte they are in this for the cash and as long as there is still money to be made they are taking every last £1.



    Plus taking Scotland’s shame to hell.



    This whole mess was all mintys great plan to beat timmy and put us out


    Of the game.


    The whole establishment rallied to his every move and he still failed.



    The future is bright it’s green and white.



    Havingapartywhenthehunsdiex csc

  16. Paul67



    “In the event a CVA is concluded, Ticketus own circa the first 25,000 tickets sold for each game for the next three years”



    Would you say a CVA is likely now?

  17. Taken from another website:



    Walter Smith speaking about a Rangers move to a European or Atlantic League, October 2009:



    “Scottish football can survive without the Old Firm first teams. It will mean other clubs have a chance to be successful.



    “I fear for Scottish football if we don’t change.”





    Walter Smith, April 2012:



    “Despite all the joy that a lot of people might be taking at the situation that Rangers are in, no-one – especially in the SPL – wants to see Rangers leave with the support they carry and the amount of money they bring to the league itself.



    “The sanctions they have given would, in my mind, put them in danger of relegation and every club in the league would suffer then.”

  18. Sir Paul.




    If this.. “Charade”…( Great Woid..kiddo!)…. keeps goin’….



    The Number Two Creditor wull be.. Duff ,Duffer and Wee Jenny!(She’s Thur Tea-Ladee..awe that Overtime~)



    Ah reckon.. Since This ” Over in a Month” Administation Process, which Commenced.. oan …St.Valentine’s Birthday.. and running


    thru.tae …. April 30th.. Will hiv Run up a Bill. .



    Let me see…



    Cha-Ching- Cha-Ching…of..



    Two Million, Six Hundred Thousand Pounds. that the G.A.


    noo Owes tae Duff and Duffer fur thur..ahem!…”Services”



    And that’s based oan an Hoorly Charge … of Whit is known in the Trade as… Scale!



    This.. “Charade”(Luv THAT Name!) is turning intae a Bottomless Money Pit!



    Man, Why don’t the G.A. .. just Close the Doors.. and Go Hame tae thur Ludges..and Dae whit Vito.. always says…






    This Game is .. A Bogey!!!


    The G.A. is Doomed.. Ah tellya .. Doomed!






    Laffin’ and Happy as Larry.

  19. Someone on SSN putting the rumour out there that Rangers will be liquidized and a NewCo could replace Portsmouth in the English set-up.



    This was mentioned a few years ago regarding Celtic. How feasible is this?

  20. so we have the big tax case


    the wee tax case


    the ebt case


    the two contracts case


    duff and phelps who are well head cases


    have we reached the stage where thems have more cases than ryanair?

  21. Walter trying to save his mate David Murray forgetting he was part of this financial mess pre EBt and post EBT with ridiculous spending on players.

  22. The Token Tim on




    The updated Predictor league table is now on the website!



    Not long to go now and all very tight.






  23. A couple of weeks ago, there was discussion on here about different approaches to owning up to wrong doing. (Where is Auldheid when you need him?) I didn’t really pay too much attention at the time but it came back to me when I was thinking about the seemingly complete lack of guilt/shame/embarassment shown by McCoist and Jardine for their incitement to violence.



    Then, McCoist claims that we, like them, are too big to go to the wall. Can’t remember anybody saying that before we were saved by Fergus.



    What makes them tick? Am I just too full of Catholic guilt to know any better? I am not trying to be provocative; I am simply bewildered that they can simply walk away from their weasel words.

  24. Walter trying to save his mate David Murray forgetting he was part of this financial mess pre EBT and post EBT with ridiculous spending on players

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