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 emperor that is Rangers is now being seen as bollock naked.



    nobody need post for the rest of the day !

  2. Wee liam just leanin over my shoulder hees been up from 6 oclock so he ca n get on on GB ultra t shirt…..says he taking a blow up up palm tree to the game tomorrrow….i think hees coconuts……anyway guys he would like one of you to put up some pics of the new strips… the kids ones…so i can get some peace…thanks again…

  3. Can you see the Rangers sign? NO NO



    Can you see the Rangers sign? NO NO



    Can you see the Rangers sign?



    Canny sign a f***in thig



    No oh oh oh oh oh!

  4. no, I’M Neil Lennon “i’ll never walk alone” (fourstonecoppi )





    he has been spouting some verbal diarrhea this week. Yet another who cannot stand it when justice comes calling.Their supremacist mentality is consigning them to history.

  5. timjim at 11.31..



    think you need to invite a few cqners to your local…



    not a fighter myself but I do like a wee swally… o))

  6. blantyretim on 28 April, 2012 at 11:38 said: .




    I stay in Plean which is a smaller version of Larkhall just to many of them

  7. Gordon_J backing Neil Lennon on 28 April, 2012 at 11:24:



    Yes indeed, how can they give £8 million to debenture creditors. The only way I can see this happening is if the debenture creditors had preferred status, which I am sure they do not. Additionally, their plan could be to then ask the debenture creditors to reinvest their money in the newco,



    As you quite rightly point; this leaves £5 million for ALL other creditors. How much are HMRC owed, anything between £15 and £70 millionish. More chance of them winning the treble this season than a CVA being agreed,



    Also, the BKs are offering £13 million, Miller £19 million, D&P have to accept the higher bid as it is best deal for creditors.



    As Ernie Lynch posted, they will limp along until 13th May, after which date they are gone.



    I cannot see them rising, certainly not for 2012/2013.



    I concur with you, liquidation looms.



    Keep the Faith!



    Hail Hail!

  8. hi its wee liam is the new away kit green white and orange? if so put on a pic cheers guys Mon the hoops

  9. topkat on 28 April, 2012 at 11:47 said:



    new away kit is black/grey hoops, there was a photo of it doing the rounds yesterday.


    3rd kit is rumoured to be white with dark green trim

  10. blantyretim on 28 April, 2012 at 11:46 said:




    I drink in Larkhall with a few tim mates….




    Not many tims in Larky.Cousin of mine gerald Reilly lives there his mother (my auntie) used to manage Bertie Aulds pub I think it was called The Shawlands

  11. the blue knights have a neck on the expecting whites shares for FA. I would be willing to offer mr white double his investment in the home of the dark ones rather than let our hero walk away empty handed after his sterling efforts. £2 s the bid Craig.

  12. More hilarity from FF!!!!





    Cartoon painting my husband has just finished depicting the corrupt SFA and their treatment of our club.



    EDIT: Going to take it along to the protest march today to let anyone who’s interested have a look. The original is approximately 30″ x 22″. If there is enough interest, my husband is going to sell prints, with ALL profit going to the Rangers Fighting Fund



    He’s also willing to auction it off if there is help from someone in the know in doing this, with all money again going to the Rangers Fighting Fund!



    If anybody is interested in a print but can’t make it along today, just let me know via this thread or a PM

  13. The save ‘Gers’ campaign is trundling along at a snails pace, and the timing of the latest announcement of a ‘battle for control’ of course verges on the ridiculous, but predictable.



    Paul67’s articles have called it as it is, at every step of the way, and absolutely nothing but a ‘charade’ will continue into May, and beyond, until the last few pennies run out in the summer. MSM know it, some of the more intelligent Ragers supporters know, that liquidation is the only way out, and that’s why we have the squealing of pigs, on the eve of their potential mauling at Celtic Park.



    I hope CFC have been able to focus of football this week, Celtic fans stay safe and are given the party they richly deserve after being robbed on two occasions of Cup Final celebrations, and overturning a 15 point deficit to complete the best title turnaround ever.



    On Sunday Celtic will again have the better footballing side, provided the referee isn’t allowed to feature, I’d expect to see Celtic stamping their superiority and delivering a crushing victory, in a game I’ve never wanted Celtic to win more.

  14. Kenny MacDonald in today’s Sun: Colin Stein recounts their ‘Triumph’ in 1972.



    Just read the last eight paragraphs for a flavour of the hun mindset that hasn’t changed since their disgraceful antics in Barcelona.





    They are truly shameless morons, Any other club with a modicum of remorse


    would have handed back the trophy and hoped to forget and be forgiven for


    that deplorable episode, but not the Huns, they wallow wallow regardless.



  15. “It was like we had done something for the whole of Scotland”…Colin Stein



    That’s right Colin you sure did…You disgracefully sullied the national game forever


    In the eyes of World football.


    Let them Die in Pain and shame.

  16. The fans kept invading the pitch thinking itwas full time……….didnt they invade each time ragers scored..doesnt say to much about fans disgraceful behavior……suppose that was reserved for willie waddell who described them as “gutter rats”