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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Good morning friends from an extremely bright, clear skied, sunny and a whopping 1 degree East Kilbride.
A fine fine morning for a Parkrun provided I can run with 4 layers on.
Off for a scroll back…
RL
imo D&P may find themselves in some difficulty over the handling of this nonsense administration
just what positive input have tehy had ?
billed a fortune …made the creditors worse off
i suspected from the outset that they were CW`s men and that both they and he would make from this and everyone else lose ….my opinion hasn`t changed
they have done nothing to prejudice CW and feathered their own nest bills wise whilst doing bugger all
If there was no administration a win tomorrow would clinch the League title.
Lets have a Title Party!
CBI spokesman is encouraged by an upturn in the building sector. Sales of chimneys have gone through the roof.
; – )
Apologies if this has been posted previously
http://m.scotsman.com/the-scotsman/sport/football/glenn-gibbons-mccoist-and-smith-fail-to-see-true-ibrox-saboteurs-1-2261890
Dontbrattbakkinanger on 28 April, 2012 at 07:46 said:
going through old youtube clips this am and found a willie maley one ive since posted on FB for family in Australia, just noticed its by pablophanque and posted 5 years ago….I didnt know the guy and had no idea it was his birthday, if its the one and same pablo its one helluva coincidence!
Happy Birthday pablo
Thai tims entertain good folks of blantyre
http://www.youtube.com/watch?v=s3QZtFs9Ztw&feature=g-all-u
The daily bloo knights has brian kennedy this morning urging duff & duffer to accept their bid even though mad windy miller’s bid will give creditors more money. Is it not the job of the administrators to accept best bid for the creditors rather than make a judgement call on who’s bid they think is best for the company in administration?
If the BK bid is less than Miller`s and that was only £11m ….this guy P Murray must be a man of straw
lionroars
very emotional night last night..
mini BT has picks and videos on my phone but I am too daft to post them…
I make no apologies for posting a link to the Scotsman when its this good – worth a read and I suggest post a some positive feedback to counter all the negativity from raging huns.
http://www.scotsman.com/sport/football/spl/glenn-gibbons-mccoist-and-smith-fail-to-see-true-ibrox-saboteurs-1-2261890
Incubation
Liquidation
Extermination
Exhilaration
CQN Saturday Naps Competition
Lads, for those who are in the CQN Saturday Naps competition, please go back and post your selection on the previous article :
(“With Ticketus gone the charade is over”)
Alternatively, if you cannot access the previous article for any reason, then you can send me an email message with your selection to : fleagle1888 at yahoo.co.uk
All the best, fleagle1888
re the bids ..circa £11m affords the creditors if we include the big tax case ….about 7p in the pound
what creditor in their right mind would accept this
particularly given the valuations that D&P got for the training ground and stadium
CQN Saturday Naps Competition – Week 37 Results & Standings
Lads, three more winning naps last week – tommytwisttommyturns (Problema Tic @6/1), Raymac (Doeslessthanme @10/3), and Rockon (Greyfriarchorista @11/8)… hopefully more of the same today & a big win for the hoops tomorrow !
+£17.05 Som mes que un club (4)
+£14.00 voguepunter (5)
+£ 9.83 fleagle1888 (7)
+£ 7.00 tommytwisttommyturns (4)
+£ 6.75 Cathal (8)
+£ 1.58 bobbymurdoch’s winklepickers (7)
-£ 1.67 Rockon (11)
-£ 2.92 Raymac (6)
-£11.25 Eurochamps67 (6)
-£11.25 What is the Stars (4)
-£12.25 BULL67 (3)
-£14.00 wolfetonebhoy (4)
-£14.50 twists n turns (3)
-£24.00 Che (2)
-£27.50 hunza rugli (2)
-£28.50 PFayr (2)
-£31.00 The Token Tim (1)
-£37.00 oldtim
*No selections from – Eurochamps67, hunza rugli, oldtim, The Token Tim, wolfetonebhoy
Cheers, fleagle1888
The difference between our hero, old boggle eyes Whytie and this chancer Paul Murray?
Well at least Whytie looks like he had a viable plan – buy it for a pound, liquidate, cash in.
Paul Murray appears a fantasist – deal with Ticketus? CVA with the Tax Man?, Whytie do the right thing? hahaha
PFayr – as that stunning Scotsman piece says this administration is bizarre. You are correct, there will be questions to answer. They are clearly working for Whyte, unsurprising since they were in situ since day 1. Hence why Miller will get preferred bidder as Whyte wants the Brox to be liquidised.
Neil and the bhoys need to terminate these monkeys tomorrow so their final big game is a painful affair
PFayr – Paul Murray, chartered accountant, sat on the board that valued their property assets at over 100m. Yet offers 11.2m? Sniff sniff
http://m.scotsman.com/sport/glenn_gibbons_hypocrisy_rules_as_mccann_and_murray_swap_places_1_781246
incase anyone has not seen this Glen Gibbons Article
blantyretim on 28 April, 2012 at 08:15 said:
lionroars
very emotional night last night..
mini BT has picks and videos on my phone but I am too daft to post them…
Yes it would have been very emotional at the home of Raemonn
this group of kids just grab your heart, they are so joyful
They have become a very powerful symbol of everything good about Celtic
Long may they continue, the emotional bond should see to that
Lovely sunny day on Glasgow’s southside this morning. Off to watch Glasgow’s (soon to be) second team, the Jags, this afternoon.
A candle
A really good factual article by Gibbon.But hey only in this little bigoted country would he be getting so much praise for writing the truth.
Gibbons for President.
Morning all. Beautiful day here in North Ayrshire. An incredible bit of weather we are enjoying at the minute. Maybe, the Good Lord is sitting up there, smiling down on us, as we celebrate thems passing.
I cannot be there tomorrow (for which I have mixed feelings, given that it gives me the boak) but please be safe everyone. I feel that no matter the result they will be out for trouble, fuelled by the McCoists and Jardines of this world.
Fleagle
the undernoted
-£14.50 twists n turns (3)
-£24.00 Che (2)
-£27.50 hunza rugli (2)
-£28.50 PFayr (2)
-£31.00 The Token Tim (1)
-£37.00 oldtim
As we have all systematically been s*** in this years comp we wish to inform you of our intention to join forces under the banner The Green Knights. We are united in this well apart from TTT as were only taking him out of sympathy.
A deadline has been set for 12 noon for the selection of the preferred horse,
in line with other similar events this deadline may be increased
Regularly and without embarrassment.
Some great posts and links as always during the night shift. But for once, rather than suggesting a listen back to a particular post, I’d instead recommend that you go to Zybszek’s post at 0:43 (it’s on page 18 so no excuses!) where he pastes a re-post from Dick Byrne from 4 May last year. It’s a fantastic eulogy to Pablophanque.
Off for my run shortly so enjoy your day.
Morning all! In work for my sins but it’s been an expensive period of festivities as the Orc demise grows ever closer.
Just secured my ticket for tomorrow – woo-hoo! The Smiddy will have to wait a wee while till I get back from the game.
Let’s have a party :-)))
HH
A song for the huns in the near future(I hope)
The sun comes up and brings the dawn as usual
When I awake I find you gone as usual
Die Die Die
I see MCCoist wants special treatment for Celtic and rangers. We don’t want special treatment just fairness and if we are in a mess we take whatever the rules decide ( same as any other league in the world).
This is a rangers problem and if they are liquidated they are finished just like any other company in the uk.
If someone wants to buy the assets or some of the assets and start a new club all well and good. Again no special treatment just start at the bottom and work your way up.
I don’t think they will have a Scottish guy doing the liquidation ; certainly the guy who did Dundee and thistle does not want the gig.
Tremendous article from Gibbons. Easily the best journalist covering sport in Scotland.
No wonder we hardly hear of him…
Look at the riots they caused after someone pulled the plug on their tv screen, what will they be like when the plug is pulled on their club?
Celtic fans please go safely .
A blog post in which I pose some questions for Duff & Phelps regarding their plans and court actions, future funding, and whether they have taken sufficient steps to obtain information from all parties regarding Rangers’ affairs. If so, have Mr Whyte and Mr Ellis committed a criminal offence, and if so, have Duff & Phelps done anything about it?
Whilst a lot of work has been done by them in eleven weeks, how do they intend to keep the doors open until a bidder completes due diligence and signs a deal?
Has the stop/start process (some of which might rest at D&P’s door, but much of which has been caused by outside events) resulted in Rangers being unable to continue as a going concern?
http://scotslawthoughts.wordpress.com/2012/04/28/duff-phelps-have-delays-in-administration-made-winding-up-of-rangers-certain/
ItaliaBhoy on 28 April, 2012 at 08:50 said:
Tremendous article from Gibbons. Easily the best journalist covering sport in Scotland.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++
That will be The Scotsman on their boycot list then
if the scotsman printed more truthful articles other than fantasy crap we see every day, i would give serious consideration to buying it ,its the trueblue fantasy stuff that tests our patience and makes us walk away from buying ,
Just read the Glen Gibbons piece and listened to a couple of Beatles links. Sun’s shining outside and it’s saturday morning. Life is good.
Off for a run around the southside before Sandy Jardine and his pals gather in an attempt to convince themselves that the Big Hoose can stay open.
Enjoy your day.
Paul McC
another excellent article
as i stated earlier this morning i am sceptical re D&P`s motives and consider their performance questionable
Morning all. Feeling very envious of those who will be there tomorrow. I can imagine spending 90 mins laughing loudly, even if they win.
I loved the idea (can’t remember who it was, sometime yesterday afternoon) of cheering EVERY decision that goes against us.
Suggestion on twitter that D&P planning to walk away this week…….?