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.
1,208 Comments- Pages:
- «
- 1
- ...
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- »
.
G’Day Fae a Absolouter El Scorchio ML4 Rivera..
Seems I wished Pabbers a Happy Birthday in Australian Time so 9 hrs Early But Fitting it Triggered a Friday Night Music fest Dedecated to the Bhoy..One He would be Proud of.. Well done CQN..
Happy Birthday Steve.. Give Jinky and Tommy a ManHug from Me..
001Bhoy
I read the comments on Glenn Gibbon’s article in the Scotsman and again I see yet again this myth being repeated that Rangers are owed more money for transfers from other clubs than the total they owe third parties for players bought into Ibrox.
Who owes Rangers money? We should name and shame them.
The whole Hun saga is giving me pleasure than I thought possible. It’s also given me an insight to how life without Huns could be.
Whenever we had a bad result the first person I would see at work would be one of the gloating Huns keen to have let me know how bad we were.
Just read the articles by Glenn Gibbons. Could it be that the risible assertion by Smith that everything was hunky dorey down Govan way until Whyte’s arrival is because of his having an EBT? I think there should be a wee bit of transparency here.
A lovely sunny morning here in west fife right now….off to get grass cut and chores done before the Edinburgh v Ulster game in Dublin and then the main event tomorrow…..Like many I do think it will be the last one for quite some time, and so I really hope we make the most of it…..they will have a bounce after today’s no surrender, no walk away, big hoose nonsense, the media will spin it of course……I am sure Neil and our team will be focused and right up for it…….5 – 2 for the home team just like the first game would be fine and symetrical……except it gives them 2 last ugly roars……so maybe their 2 come when they are 4 or 5 nil down and half of them have left…..
Big big thanks to Patrick 27, a real star, I owe you young man.
Lubo at 07:17
Thanks Lubo!
That clip on The Thai Tims says everything you want to know about what our fantastic Club and Supporters are all about! LOVE, Charity, friendship, passion and compassion, excellence and all the GOOD things in LIFE! That clip and the adjacent Thai TV clip would bring a tear to a glass eye and I am not ashamed to admit it brought a few tears to mine.
l truly hope and pray that we win the game tomorrow and show the world what a fantastic Club and Support we are and will continue to be for a very long time!
Yours in all the good things Celtic,
TB&F
The whole Hun saga is giving me pleasure than I thought possible. It’s also given me an insight to how life without Huns could be.
Whenever we had a bad result the first person I would see at work would be one of the gloating Huns keen to have let me know how bad we were.
Now they are rarely seen and not one of the Huns at my work seems to care about football now. Apparently they weren’t ever that bothered about football, just a bit of fun.
These Huns have all walked away. I pray that they can’t get a team ready for next season as I think there are thousands out there who will walk away.
If the Huns were to miss a season and then start at the bottom it might give then a reality check and also bring some humility to their new club.Not a new start as some of the old bigots will be there but some of the worst won’t go back. Their idea “we are the people ” attitude is their weak spot.
How many football clubs could possibly owe Rangers money?
From Transfers?
Everton for SOME of the Jelavic fee.
Some mob from the far east for Bougherra?
Do Arbroath and Falkirk owe them gate money for the cup games?
Have they sold any other players who would command fees?
extras
A retirement home for David Weir?
The RSPCA for Lafferty?
Are the turks asking for their money back on Kenny Miller?
They are deluded beyond belief.
Thought provoking article again from Paul McConville.
As a layman it does seem to me that D & P are at some stage going to be sued by those who feel there is a case to say that they have not acted in the best interests of all the creditors.
Surely they are no model administrators.
Morning,
Looking forward to Monday and the choices that will be voted in or out by the SPL Chairmen.
I really hope that the SPL Survey results have opened the eyes of the other SPL Clubs.
But the single biggest thing that Celtic could do is to at least split TV money evenly between all teams in the SPL, the NFL do this in America. As a carrot for those chairmen who may be fretting on the baying hoardes not visitng their grounds next season this could be the best way of limiting financial damage, and at the end of the day Celtic are big enough to absorb the loss of a portion of the TV money they receive.
Benefits of League without rangers: More competitive generally, opportunity to win cups, more successful clubs on field equals more supporters turning up, less stadium damage, less police costs, etc.
Benefits of League with rangers: TV deal will produce more money
The average football supporter has voted on the inclusion of a newco and have overwhelmingly voted NO to newco, the other SPL club chairmen must acknowledge this survey, do the sums, if they suffer a 50% drop in their own fans turning up to games due to voting in a newco they will lose big in the long run.
If a team has an average of 8000 home supporters and due to a newco being voted in 50% of them do not return this is the equivalant loss of £1.5mill over 19 home games at £20 a ticket. If same team adds an extra 1000 supporters on after voting no to newco and anticipating a better, more competitive league placing, this would be worth an extra £380k per year just through the turnstile.
Conversely if newco is voted in the SPL chairmen can expect 2 home games against newco bringing, lets be generous say 10000 away supporters over the 2 games, this equates as £250k at a charge of £25 a ticket through the turnstile.
Surely the chairmen and their accountants must see the financial benefits are not there even when using my rudimentary calculations. This is before they even consider that they have been cheated over the last god knows how many years.
To all SPL Chairmen – DO THE RIGHT THING
Vaultbhoy
Glen Gibbons has been a cut above the rest for years. Open, honest and definitelt not one of the herd……
I dont think today’s great article in the Scotsman marks a shift in journo attitude, it is probably more to do with the recent editorial change at the Scotsman group which saw hutchesonian, rangers minded John Mclennon depart with haste…..glen has perhaps a bit more lattitude than previous…..
Kit
i think they are owed some Jelavic money
can`t think of anyone else
Kit
sorry..
howver Jelavic cash will no doubt be paid in line with Everton`s contractual obligations
as apposed to the huns not paying Vienna and Hertz …and one might suggest having no intention to pay them
This is comment posted in the daily rangers concerning this hun protest march it was posted about half a hour ago and no one has seen fit to remove it
William Craig
9:00 AM on 28/4/2012
The fight back has started, stand up & be counted BEARS let’s show Lawwell’s puppet Regan we mean business and we will not stop until Regan is ousted and the SFA cleansed.
Get to this important protest BEARS, our leader ALLY McCOIST started the fight back let’s give him our full support, let’s show the 3 stooges & Regan we mean business. Let’s also send a very clear message to those who have kicked us when we were down that we are after them & we will have our revenge on them.
Scotland is a democracy where the majority rule, we represent the vast majority so RANGERS RULE!!!!!!!!!!!!!!
IN ALLY WE TRUST..
Here’s some transparency…
http://www.lodge76.wanadoo.co.uk/famous_scottish_freemasons.htm
PFayr – Paul Murray will ensure the football debts will be paid, it will be 5% of what is owed, but the debts will be paid.
Just like if you don’t keep payments up on your bright house telly, your player bling should be removed from your possession when you have no intention of paying. It is all HP after all
RL
when the Huns received the Jelavic cash they could and should have paid the outstanding debt on their players
CW trousered the cash …money was left in the Hun account when the administrators took over …no attempt has ever been made to pay the debt due for these players
and they complain about a transfer ban …risible
Excellent article Paul Mac – Web3law you linked to explained a lot I previously did not fully understand.
MWD
Vaultbhoy
I don’t agree that the TV money should necessarily by split evenly. But one area where Celtic should take the lead is a more equitable distribution of SPL prize money. I don’t have the figures to hand, but the teams finishing in the top two places take the vast majority of the money.
By sharing this money, not equally but more equitably, all teams in the SPL apart from Celtic would get a healthy increase in their finances.
RogueLeader on 28 April, 2012 at 08:24 said:
”PFayr – Paul Murray, chartered accountant, sat on the board that valued their property assets at over 100m. Yet offers 11.2m? Sniff sniff”
And ‘confused’ discretionary payments with contractual payments.
The consequence of such ‘confusion’ being a massive economic advantage for the company of which he was a director.
Fraud, anyone?
Conspiracy to commit fraud?
Big Nan on 28 April, 2012 at 09:30 said:
Thought provoking article again from Paul McConville.
As a layman it does seem to me that D & P are at some stage going to be sued by those who feel there is a case to say that they have not acted in the best interests of all the creditors.
Surely they are no model administrators.
————
The only administration in the world with no reduncencies. In fact they tried to add to their payroll.
Off the radar stupidity.
TGSC,
Sailing On….
ernie lynch
Given P Murray`s prev involvement with the huns …it`s outrageous that he is promoting himself as some form of saviour(clearly with no cash of his own)
he`s almost as conflicted in this position as one C Ogilvie
FIVE million??
Shome mishtake, shurely?
############
ӣ5 million offer to save Rangers
Alison Campsie Senior News Reporter.
A £5 million bid to save Rangers has been put on the table after former director Paul Murray and his Blue Knights consortium joined forces with rugby-club owner Brian Kennedy.
The development leaves just two formal offers for the crisis-hit club, with administrators also considering a rival £11.2m bid from American trucking tycoon Bill Miller.”
http://www.heraldscotland.com/news/home-news/5-million-offer-to-save-
rangers.17437613
Partizan on 28 April, 2012 at 09:50 said:
Partizan,
I agree that it is another option, the main thing is the Celtic PLC must be willing to use our financial strength to offer a better future to the other teams in the SPL.
After all we will become the ‘biggest team in Scotland’ very shortly and must act for the benefit of the league we play in ;)
Vaultbhoy
The Good Ship Celtica. on 28 April, 2012 at 09:54 said:
The only administration in the world with no reduncencies. In fact they tried to add to their payroll.
————-
Not only that, but there was a hint the other day that Gregg Whyte, who apparently left ‘voluntarily’ has papers to prove he was made redundant, that he hadn’t been paid for several weeks and that it wasn’t a mutual agreement.
Could he sue them as well?
http://es.soccerway.com/news/2012/April/26/coyle-hopes-to-finally-get-wylde/
wylde not whyte. :)
game just about to kick-off
u19s
Celtic v Rangers
lennoxtown
Celtic team: Fasan; Fisher, Jones, Fraser, Chalmers; Herron, McGregor, Irvine, Kidd; Atajic, Alabi
Excellent analysis by Glenn Gibbons today, a long time coming.
(Knew his brother, Jimmy years ago, top bloke).
Simple question that the MSM should have put to McCoist yesterday-
“If everyone in Scotland had a “right to know” would you still have called for the identities of the “Hampden 3″ to be revealed if they had found in favour of Rangers/Whyte in their judgement?”
Interesting to see the numbers for their big walk today.
The bluenoses in my work are a picture of resignation and apathy. One young guy who usually goes to all games – home/away/Europe – hadn’t even bothered trying to get a ticket for Sunday.
Maybe more than they think have walked away.
TGSC,
Sailing On….
Should we have a sweep on how many will attend today’s protest march?
thousands? hundreds? dozens?
Or on how many arrests there might be?
Good luck to all in the area. Batten down the hatches but take photos and report back ;)
Sparkleghirl,
Didn’t know that about Wylde. Wonder if you can sue for being given a lifeboat from a sinking ship. :-)
TGSC,
Sailing On….
DR. Had a wee peek….I’m not getting younger but I have really seen it all now. They have printed their ‘walk’ details AND the rules. I’d get it if SDM’s office was inside Hampden. The sooner they are dead the safer we’ll all be. Let’s help bury them tomorrow and everyone be careful. HH.
Fantastic spot from a DU fans forum:
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.
“When I say the Old Firm leaving to join an Atlantic League, I don’t exclude other Scottish clubs from having that chance.
“The team that wins the SPL could step up and, possibly, represent Scotland in the Champions League. If Rangers and Celtic were playing in the Atlantic League and Aberdeen win the SPL, then I think there could be a play-off to get into the Atlantic League for the next season.
“Even under this scenario the Old Firm would still have a presence in Scotland .
“Probably their teams would have to start in the lower divisions and work their way up. 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.”
Apologies if already posted but an excellent piece from Glenn Gibbons on McCoist.
The comments are equally worth reading – the polarisation of Scottish football fans on this accelerates.
Glenn Gibbons on McCoist
Glenn Gibbons CSC
Morning all Celtic family worldwide..
Lovely day here…
Kayal on bench tomorrow?
Think we missed him at Ibroke s last time..,
Mc Coists ” it was anything but an apology ” rant.. Should never be forgotten.. The man is a
Danger and gets away with it so let’s have a party and resounding win tomorrow and stick it to him!!
HH
Paul67 evidently sees himself as some kind of journalist.
He is not. He is a childish green eyed Celtic daftie.
Evidence?
“One team in Glasgow,
There’s only one team in Glasgow.
One team in Glasgow,
There’s only one team in Glasgow”
Methinks he is insulting the “intelligence” of those who visit this blog – unless they are 7 or 8 year old children.
Glenn Gibbons: McCoist and Smith fail to see true Ibrox saboteurs
Published on Saturday 28 April 2012 03:57
FOR someone who is possibly the oldest rookie manager in the history of the game, Ally McCoist this week gave a flawless impersonation of an impulsive, vengeful and nasty-minded adolescent.
Notoriety attached itself to the former striker with the suddenness and potential devastation of a pernicious virus the moment he demanded the release of the names of the three-man independent review panel who imposed sanctions on Rangers in accordance with the seriousness of the Ibrox club’s breaches of football’s regulations.
The suspicion that his disturbingly sinister outburst – “I want to know who these people are, Rangers supporters want to know who these people are” – was a prime example of premeditated mischief-making did not take long to harden into certainty. It came with the revelation of an SFA spokesperson that the supposedly bemused manager would undoubtedly already have known the identities of the judges, since Rangers had a representative attend the entire judicial proceedings.
At a stroke, McCoist’s long-established image as an ebullient and irrepressible charmer was transformed into a hideous representation of spiteful retribution. Nor did the damage inflicted on his own reputation come anywhere near to being undone by his declaration the following day that he was “disgusted” by the thought of any Rangers fan visiting abuse on the panel members and issuing threats against them and their families so distressing that the police began investigations with a view to criminal charges.
“I would not for one moment want anyone to interpret my remarks as a signal to engage in any form of threatening behaviour,” he said. The picture of a stable door being bolted while, in the background, a horse at the gallop disappears over the horizon springs to mind.
It was noticeable, too, that McCoist’s attempt at a “rescue” did not even hint at the possibility of culpability on his part, far less an apology to the panellists and their distraught families.
He may be relatively inexperienced in his present post, but he has been in professional football for 33 years, all but a handful of them in association with Rangers. In the circumstances, he would, unquestionably, be perfectly aware of the potential for appalling behaviour among certain followers of the club.
If nothing else, he ought surely to have been familiar with the regularly-documented and legally-pursued instances of assaults, abuses, threats and attempts on the life of his rival at Celtic, Neil Lennon.
But McCoist’s injudiciousness simply chimes with the general transformation of Rangers over the past two decades from a trophy-gathering phenomenon into a magnet for bad management. The series of saboteurs ranges from David Murray, whose ego-driven excesses should be recognised as the single most significant factor in Rangers’ present predicament, through the questionable motives and actions of his successor, Craig Whyte, to the representatives of Duff & Phelps, now widely regarded as the most incompetent administrators ever to be charged with righting a listing football club.
Astoundingly, Murray seems still to command the loyalty of a reliable band of apologists, among whom his former manager, Walter Smith, may be understandably – and even forgivably – numbered.
But the attempts in certain quarters of the media to present a revisionist view of history – one in which Murray is totally exculpated in the matter of Rangers’ potentially fatal wounding – have been utterly shameless. It is as though the former owner/chairman, who is officially dead where football is concerned, continues to exert an influence on his former lapdogs from beyond the grave.
Smith’s recent exercise in condemning Whyte was such an example of unadulterated propaganda, complete with see-through inaccuracies, that it was easy to wonder if we were playing the old time machine game, returning to the Murray heyday.
Having expressed bewilderment over the speed with which Rangers seemed to have descended into penury, Smith insisted that he had, at the end of last season, left “a debt-free club” that was on a sound financial footing. Staggeringly, he insisted that the extravagances of the Murray tenure were an irrelevance.
“You can make your own judgment on what happened before,” said Smith, “but the fact is none of that mattered. In May of last year, all of that had disappeared.”
Well, all of it except the £18 million of bank debt that had been transferred to Whyte, the admitted £4.2 million bill known as the wee tax case, the millions owed to clubs in Scotland, England and Europe for a variety of reasons, plus a lengthy list of creditors from ancillary trades.
There was also, of course, the spectre of the big tax case, which could yield a further liability of upwards of £70 million.
To paraphrase John Cleese in Monty Python’s Life of Brian, “apart from that, what harm did David Murray ever do Rangers?”
As if Murray and Whyte were not enough for one benighted club to take, the administrators have, since their arrival, proved about as helpful as gatecrashers. Consultation with an array of qualified people in the financial and legal professions has confirmed that none has ever heard of a period of administration that has not produced a single redundancy.
What it has brought is further haemorrhaging, to the tune of £2.5 million in the first two months of the Duff & Phelps stewardship. Now the administrators, who seem not to have complied with even one of their own “final and binding” deadlines since they took the wheel on 14 February, are making confident noises about winning an appeal against the sentence of the judicial panel. Their optimism reportedly based on encouraging (private) words from the SFA chief executive, Stewart Regan.
Maybe Regan didn’t want to spoil the moment with a reminder that any appeals panel will also be independent. And quite beyond his influence.