Blowhards + compliant media = liquidation
Comments reported today from Paul Murray, Rangers director during their infamous EBT period, get to the heart of the immediate problem facing Duff and Phelps. Murray said:
“On Monday I made it clear that, in the best interests of the club, the Blue Knights were prepared to take a step back from this process.
“We did so because we did not want to further delay the absolutely critical task of selecting a preferred bidder.
“But we also made it clear our offer was still on the table.
“Now, in the light of the lack of activity over the subsequent 48 hours, I am reconsidering our position.”
Murray’s Blue Knights, no doubt in common with all other bidders, were offered a period of exclusivity as preferred bidder in return for paying a non-refundable £500k. The Blue Knights declined and no one else has been prepared to put their cash on the line.
The Blue Knights are “reconsidering [their]position” about what? They left their bid on the table and refused to pay the £500k. If they reconsidered this can only mean they have removed their bid completely or they have agreed to pay the £500k.
The last thing Rangers need is another blowhard using a compliant media to make people believe he will put cash on the table without actually doing so. Murray goes on to use phrases like “absolute urgency” without realising put up or shut up time happened weeks ago. Liquidation draws near, if he cannot pay to become preferred bidder he is a (welcome) distraction.
You would have thought this guy did enough damage when he was director during the EBT years! It’s almost like there is a group of malevolent CQN’ers teasing the administrators with promises and media campaigns in an attempt to consume all available rescue time. Every couple of days one will pop up full of bluster and inaction. We’re talking about £500k for a consortium presumed to have multi-millionaires; so what if they lose, the cash goes to the creditors and surely it’s worth taking the chance?
If it was Celtic, you, me and thousands of our friends would have put the cash on the table weeks ago.
The most recent deadline to appoint a preferred bidder is tomorrow. If Duff and Phelps cannot do so you can be assured that there are no proper bids.
As we have said from day one, despite Duff and Phelps magnificently inaccurate “irrelevant” comment, there is only one show in town and that’s Craig Whyte. More on him, and why he’ll not walk, away this afternoon.
The charity auction on eBay for a unique Neil Lennon painting ends at 20:44 BST tonight. This guy’s image is worth more than any other sportsman, we’re now over £4k! Rumours of the decline of his legend are completely fabricated.
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