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.

Click Here for Comments >

About Author

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. 8
  10. 9
  11. ...
  12. 32

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

    Offences against Neil Lennon since 2000



    University students Gregg Miller and Neil MacLeod were fined a total of £900 after Mr Lennon was attacked in September 2003 in Glasgow’s west-end.



    Car salesman Thomas Ferrie was then fined £500 in April 2004 for road rage after chasing Mr Lennon along the M8 and yelling abuse




    In January 2009, Rangers fans Jeffrey Carrigan and David Whitelaw were jailed for two years each after the then Celtic coach was attacked in the city’s Ashton Lane.


    Stephen Birrell was locked up for eight months last October for posting comments on a Facebook page called “Neil Lennon should be banned”.



    Robert Rollie was spared jail that month after he wrote threatening messages about the Celtic boss on another Facebook site.



    David Craig was sentenced to 14 months in March this year after he posted a picture online of Mr Lennon covered in bullet wounds




    Hearts fan John Wilson was convicted of a breach of the peace and jailed for eight months for lunging at Mr Lennon at Tynecastle last year.



    Christopher Hay was charged in March this year with threatening Mr Lennon on a social networking site. He made no plea when he appeared at Glasgow Sheriff Court. No date was set for a further hearing.



    Trevor Muirhead and Neil McKenzie jailed for five years for sending devices they believed were capable of exploding and causing injury.



    Thanks for posting this and to Mince.


    You forgot the bullets in the post TWICE sent to Neil.







  2. Ray Singh-Carr on

    Billy’s Bhoy on 27 April, 2012 at 19:03 said:


    So when the Blue Knights and Kennedy’s bid goes south do they become the Dead Kennedys? Holidays in Cambodia anyone?




    Or maybe “Liquidation Uber Alles”??




  3. from FF..these guys know how to get things done!






    Thanks McDonald’s, supporter of the SFA.


    Used yer lavy, taking up a space in your car park and catching up on work e-mails.






    Packed Lunch Loyal.

  4. prestonpans bhoys on

    God I’m fed up hearing Hertz fans at work saying “I’ve a ticket for the final” and my reply is “It’s not bingo you know, if you are a ST holder then of course you’ll get one, you’ve been offered more then 17,000” !!!!!

  5. Enrico Dandolo nicked my Crusade on 27


    Don’t be calling thems Lepers,they will


    be looking for charity money to swipe .

  6. How can Paul Murray know that their bid is bigger than Miller’s? Are these bids not meant to be confidential? Who is telling them what Miller has bid? Are D&P acting legally if they are telling each rival bidder what the other is bidding?



    I know it is a charade…but I do want the bell tolling soon.

  7. «



    notthebus on 27 April, 2012 at 18:34 said:




    Did you get the times of those posts? thread title? blog names? That type of crap needs reporting.



    They really no know other way but reaction and hate. They will never learn.



    My only fear is that the absence of rangers might lead to an increase in things like the SDL and BNP for them to find social acceptance in.

  8. Murray: A strong bid with a small number of conditions.



    Sounds good so far…



    Condition 1 – CVA


    Condition 2 – CW’s shares.




  9. notthebus on 27 April, 2012 at 19:06 said:



    from FF..these guys know how to get things done!






    Thanks McDonald’s, supporter of the SFA.


    Used yer lavy, taking up a space in your car park and catching up on work e-mails.






    Packed Lunch Loyal.




    Can anyone spot the obvious lie?

  10. Given that D&P only had £900k left recently



    Given that they haven’t had a home game in weeks



    How are they managing to keep the doors open or are they adopting the hun way re creditors

  11. Stringer Bell on

    Tried to let this go. Just couldn’t. Might have been posted earlier.



    Re the Raith rovers chairman………



    60 years ago, in a fife kirkw…..



    “So, Mr and Mrs Hutton, have you thought if a name for your baby son? ”



    The couple gaze lovingly at each other and turn to the vicar, both say t at the same time.



    “We will call him TURNBULL.”



    Cut to congregation sniggering, and fade to close.

  12. Prestonpans bhoy



    surely they say “I’ve got a ticket for the final, eh?” Sorry do you do that we quaint finish to sentences as well?:-) (Just kiddin)

  13. Ray Singh-Carr on

    I have made a strong bid tonight to spend the weekend shacked up in a top London Hotel with Cheryl Cole.


    Couple of small conditions….



    1) I need to get hold of her phone number


    2) She needs to agree to it




  14. voguepunter –



    you may have missed my post earlier today…



    Jobo Baldie on 27 April, 2012 at 10:27 said:


    Paul67 –



    Just to say that taking the site down in the early hours for 2 days running won’t stop me you know.



    It was a beautiful bright sunny, but cold, morning when I left East Kilbride without being able to offer my customary Big Happy Friday shout out to all of the good Bhoys and Ghirls of CQN.



    Have a very pleasant day, folks.



    (..whistles ‘we’re having a party’ as he returns to work…)

  15. RobertTressell






    1.Toilet trained


    2.Stolen car owner



  16. The strange case of the dog that did not bark.



    I found myself this week being incandescent at the remarks by the RFC(IA) manager. I know I am not alone in reacting this way.



    Now that at least some of the red mist has dissipated, a curious thought has occurred to me. You will remember – although I am sure you would prefer not to – that McCoist had strongly suggested that RFC(IA) could be put out of business by the Judicial Tribunal’s decision. The penalties were, according to McCoist, so draconian that the club would cease to exist. So, what effect was this to have on the bids to take the Govanites over?



    The answer has come today. Despite the predictions of the sky falling in on Ibrox, we have learned that there is still interest in the club being taken over. Now, I know as you do that this is all hogwash and window-dressing. However, it was interesting that there has been no statement from the proposed bidders that they are unhappy with the decision to block player purchases for the new season. If the decision was really that bad, why did TBK and Kennedy not say something about it? If McCoist was currying favour with the support, what was to stop the bidders doing the same?



    There are 2 possible conclusions which I have drawn from this episode. Firstly, the bidders do not believe that RFC(IA) will be in the SPL next season. If they are in the SFL, there would be little need for them to spend,spend, spend. This in turn makes a virtue of necessity. The gate receipts for playing in that division are likely to be pretty meagre. A season or two in the lower leagues may give the bidders time to sort out their finances Of course, they are hardly likely to say that to a support which believes they will be challenging for the SPL title next year. It is deeply hypocritical that McCoist can call for the Tribunal members to be named in public but there is almost no hard information about the actual plans for the club which we are led to believe have been formulated by the bidders.



    The other conclusion I have drawn is that the bidders have absolutely no intention of putting any money into the club other than for its purchase. A ban on buying players would be catastrophic for most clubs. I cannot see how this would not have a major impact on the bids to the extent that any purchase would be in serious jeopardy. Yet there has been nary a peep out of TBK or Kennedy. Could they be planning to dismantle the club after they have purchased it so that all that is left is the very palest blue shadow of what was there before?



    I cannot work out why anyone would want to but RFC(IA). They are damaged goods and no mistake. If a CVA is not on the cards, why not just allow the liquidation to go ahead? There must be something which the bidders think they can get out of this mess. I just can’t imagine what it will be.



    Any answers to this conundrum would be appreciated.

  17. The Ghood will prevail on

    Stringer – had a similar chuckle. Here’s another one. So, Mr and Mrs McMaster, what name do you choose for your son?


    answer: BROWN!

  18. A pig in a tutu is not a ballerina.



    A man in a suit does not make a gentleman ( dae yae hear that sneaky?).



    A shaved ape in a suit is not a man. But a Bonobo with a stationary set & laptop can be a scottish sports hack…maybe even win an award for reproducing other peoples stories.

  19. Jobo Baldie on 27 April, 2012 at 19:13 said:



    Is that a Sally McMoist apology ?


    I start work at eight,need forecast before that.:O)

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

    oglach on 27 April, 2012 at 18:04 said:



    Result dependent violence will happen well away from the ground and many hours later. A lone happily drunk Celtic fan on a bus or walking home cos he can’t get a taxi.


    Their Saturday “rally” will be like an Orange Walk with sectarianism to the fore. It will also wind up the orcs for Sundays game big time.


    Jardine’s comments that he was meeting last night(Thrusday) with fans from all over the world (well Belfast, Larkhall, Cumnock, Harthill, and Wishaw) to discuss and sort out their action plan shows that the club are orchestrating this whole march/demo. With wall to wall drunken orcs, who’ll get the blame when it all goes wrong?



    It may of course be a peaceful, dignified gathering of sober men and women showing solidarity with a football club in a spot of bother.

  21. prestonpans bhoys on

    Billy’s Bhoy on 27 April, 2012 at 19:12 said



    Nope I’ve fae Killie, long time ago but still have a west coast accent – well that’s what I say, eh :)

  22. 67Heaven ... I am Neil Lennon..!!..Truth and Justice will always prevail on

    RalphWaldoEllison-is Neil Lennon Season 2011-12 on 27 April, 2012 at 19:06 said:



    And they still insist that we need that lot ………hunbelievable..!!!!!!

  23. Billy’s Bhoy on 27 April, 2012 at 19:08 said:


    How can Paul Murray know that their bid is bigger than Miller’s? Are these bids not meant to be confidential? Who is telling them what Miller has bid? Are D&P acting legally if they are telling each rival bidder what the other is bidding?



    Assuming Miller’s bid is the one he put on the table last week he old everyone it was £11.2m. If there’s is 1p more then it s bigger than Miller’s. Bit immaterial as they are both conditional so technically do not meet criteria. But holding them over the weekend without comment keeps the ‘mob’ happy over the weekend..well at least until 2.30 ish on Sunday. Hopefully!



    Pay your Bills

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

    Chris McLaughlin‏@BBCchrismclaug on the Beeb tweet.



    I believe #Rangers administrators think the Miller bid is financially worth more than the Knights bid. More to follow on #BBCSport



    The incubator returns.

  25. voguepunter –



    I was deprived of the ability to carry out my normal job. I stand by my earlier statement. And I demand to know your real name.



    Yours, Sally

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. 8
  10. 9
  11. ...
  12. 32