Someone forwarded me the statement from US based Bill Miller which I read and ignored, thinking it was a wind-up. Incredibly, it’s ““Real””.
Bill tells us he will invest £11.2m into the club and:
“There is no way that Ticketus would agree to accept a “pence on the pound.
“It is apparent that there will be several lawsuits that will emerge in relation to a potential CVA exit.
“In order to preserve the club’s history, records, championships and assets, I will put the “heart” of the club into an “incubator” company while Duff & Phelps works to make the “sick patient” healthy through a CVA process that effectively works to “radiate” the toxicity of past administrations’ sins out of the patient while the “healthy heart” is preserved and moves forward.”
The above is an actual quote. I’m not even sure the pubs are open in America at this time of day.
But Bill, the “sick patient” owns the stadium, and as you suggest, a CVA would be prolonged. Craig Whyte owns security over the stadium and your refusal to deal with him might make playing there…. awkward. Any creditor, like HMRC or Whyte, could and perhaps would challenge a disposal of assets like the one you suggest.
He goes on:
“Any suggestion that Rangers history is lost by such a process is preposterous.
“Using such logic, Rangers would not actually have a 140-year history as its current corporate structure was only created in 1899. To suggest that Rangers thus have only a 113-year-old history is absurd.”
We’ve explained this one before. Rangers were incorporated 113 years ago; “Real”. The same entity, owning the same assets, existed pre-incorporation as an unincorporated football club.
Buying and selling history is almost as entertaining as buying the Eiffel Tower in cash off a guy in a Bellshill pub. If it’s possible, I demand Celtic PLC get off their bums and buy the history of ancient Greece.
Bill adds:
“My offer is contingent upon the regulatory bodies agreeing that the club will begin play in the 2012/13 season in the SPL and that they will do so without any loss of points and with all historic titles intact.”
Ah, “contingent upon”. A condition; just what Duff and Phelps asked to be excluded. You’ve underplayed this one, Bill. If the SPL will agree to this they will surely agree to give you a 10 point bonus next season, just for being so nice.
“The time for talk is over. The club is in serious jeopardy of dying. “Real” [sic]liquidation is looming.”
I like this guy. He sounds like a “Real” level headed custodian for Rangers. Alas, I fear Duff and Phelps will be in sombre mood when next we hear from them.
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What the hell is being talked about on Clyde1? Newco but Oldco at the same time. CVA for £11.2 Mio when they have £134 Mio debt?
So the expectation is that creditors will take 8p in the £?
Aye Right!
RobinBhoy
SSN…….. Late bid expected from the far East via Chinese billionaire. Mr. Lee Kwee Day Shun.
ok lads til laters
Sally is still worrying about preparing for next season. Someone should put him out of his misery.
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 20 April, 2012 at 18:14 said:
Aye fair do’s on that but this Miller guy is going to waltz into town with an 11 mil sticking plaster and wave a magic healing wand over the swamp thing that the huns are and the whole of Scoddush Fitba are going to say ” Aye on ye go Bill you the man”
Canny see it myself or even any kind of newco being ready for the new season except in front of the telly watching the Champions..
Starry
Paul The Spark on 20 April, 2012 at 17:00 said:
Can anyone tell me where to buy one of those incubators. Sounds like the answer to all my woes.
…..
Shouldn’t that read
“Sounds like the answer to all I owes”
from queens park website, for anyone in the area not doin anythin…
15th April 2012
The QP performance squads play Celtic at Lesser Hampden and Lennoxtown this weekend coming.
more info QP 632 1275
might see a few promisin young Celts
Aaaarrrrgggghhh. There can be no way in a million years a Newco can be set up with those guarantees. Not even the SFA/SPL will tell this clown there will be no further points penalties.
I Do Like Mondays.
Starry
if Bashar al-Assad was to turn up tomorrow waving 12m quid they would be unequivocal in their praise for him.
Ok gotta go .. practice practice practice ;-)
Hail Hail
How apt – Monday 23rd April feast of St. George slaying the Dragon!
Ah bless, our unfortunate friends over on rangers media have decided that even if it’s a newco, it’s still the oldco, still got their history etc etc.
As they say down Cairo way…. “In da Nile”
duffers on ssb tonight courtesy vandalgrease
http://www.youtube.com/watch?v=eF2b0zMCqaU&feature=youtu.be
Meanwhile in Trumpton, Dusty Miller takes charge..
Wee Boaby.. “Nae Sign o’ the Cavalry ,yet?”
Trapper Sam..”Na. Only some Guy, Driving a Tow Truck..
wearing a Rid Blue and White.. Beanie. wi;
a Wee Propeller oan Toap.”
Wee Boaby.. “Wull, Ah open the Gates.. then?”
Big Wullie.. ” Why No.. Ye canny ayewiz go by Appearances.
Kojo
Still.. Laugin’
this is getting like the russian roulette scene in the deer hunter….the chambers are all loaded and a hyper active voice calls out: “more ammo”…..just pull the feckin trigger!!
Jim Duffy: The Hokey cokey bid.
HAHAHAHAHAHAHA
We must always council ourselve’s with the fact that….
Scotland = Mississippi
Celtic = Colored
“Keep Yer Guard-Up” CSC
DeniaBhoy on 20 April, 2012 at 18:21 said:
Aaaarrrrgggghhh. There can be no way in a million years a Newco can be set up with those guarantees. Not even the SFA/SPL will tell this clown there will be no further points penalties.
================
The SFA cannot grant Newco a license. they are bound by UEFA licensing and there is no provision in UEFA licensing that allows this as the rules stand. Somebody has to make a case to UEFA for an exception and I simply cannot see this happening in the circumstances.
Mr Blobby?
More chance of Glen Miller buying them. Party on Monday night. Day off booked for tuesday. Woop woop! HH.
I posted on Wednesday I was informed the bidders had 72 hours to do a deal with Whyte or it was bye bye rangers.
Get the jelly & ice cream in for Monday and look out for details of the huddle in George Sq. Possibly 6:00 pm.
HH
Paul67 et al
Throughout the whole period of administration has there even been one Rangers supporter prepared to pay one penny towards their creditors? Wait a minute, that seems to be the total on offer, from any of them. Why don’t we throw in a knighthood?
Dusty Miller is flying in on Monday with his new board of directors Pugh, Pugh, Barney McGrew, Cuthbert, Dibble and Grub
**Hot off the press** D&P interview on Miller/newco/liquidation by Monday… http://www.youtube.com/watch?v=eF2b0zMCqaU&feature=youtu.be
Duffy on Clyde must have read the article – well done Paul67!
Sorry fholks, had to listen to Clyde tonight, does anyone get the feeling that Delahunt is enjoying tonight……?
PLINK !!!!!
James Edward McGrory 408 goals in 408 league games on 20 April, 2012 at 17:32 said:
Opps, sorry Gordon_J.
Yep The Allman Brothers rock
I do like this band a lot but I think Alabama Shakes may overshadow them for me now.
http://www.youtube.com/watch?v=ZXrrvdr-zeM
Hail Hail
excellent news
Clarky boy is indeed Neil Doncaster
waffle waffle waffle take 2
oh yes
just the job !
the penny is dropping for them: miller makes an impossible offer….and liquidation follows.
Hi folks. Anyone know what exactly whyte hopes to get from a buyer?
Good evening friends and it indeed a Big Happy Cheery Smiley Friday here in ole EK.
Jobo
in 20 mins or so
http://www.spreaker.com/show/oaoradioshow
Harry Brady @HarryBradyCU Reply Retweet Favorite · Open
So RFC* bidders – A guy who doesn’t want to buy, A guy from far east with no interest, group with no cash & a loony. Quality
Tweet heehee
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 20 April, 2012 at 18:14 said:
absolutely, nail on head! This whole pantomime is a a case of “let`s see who can get away with a lot of money”
Bill Miller will place his post of half a million and collect it back in a couple of years ,probabaly ten fold. Eleven million does not go far to keep that old wreck afloat , so he will go for the share issue , good luck with that Bill, but he will clear all his outlay and walk away with a tidy profit.
All other creditors will get hee haw, and the Hun will still be in the SPL and they will see feck all wrong with that, shameful.
Dublinbhoy,
Get yourself a copy of the Alabama Shakes’ album Boys & Girls It is quite superb.
Administrators on SHortbread just now saying that Miller has indeed spoken to the SFA-SPL!!!
Somebody is telling porkies????
Hail hail