Breaking news! Craig Whyte agrees to sell his shares for £1*!!!
So the story goes. The * is important. *He’s agreed to sell his shares for £1 if a CVA is agreed. Coincidentally, this decision comes a day after Ticketus inform journalists (and perhaps Mr Whyte’s briefs) that they will sue the Rangers owner for £27m.
Of course, if a CVA is agreed, Ticketus still own the tickets for the next three seasons they bought from Rangers in the early months of Whyte’s tenure. They therefore cannot pursue Craig Whyte. Get a CVA – get Ticketus’ lawyers off your case.
Channel 4’s very well informed, Alex ‘Tomo’ Thompson, who appears to have spoken to Mr Whyte tonight, reminds us all of the crux of the matter:
“And then that leaves the floating charge Mr Whyte has over Rangers – effectively another large separate financial stake in the club and I can reveal this is still to be negotiated away somehow. This is where the tough-talk has still very much to be done.”
Despite the headlines, it appears that Craig Whyte remains….. The Only Show in Town. He’ll assist a CVA but the “tough-talk” over the stadium, his real asset, has still to take place.
Let’s not mention the chances of getting a CVA past HMRC.
You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.
The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.
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!!Bada Bing!! on 11 May, 2012 at 10:18 said:
jimmci on 11 May, 2012 at 09:55 said:
thatll be keith jackson journalist of the year? which in real terms is right up there with jim traynor slimmer of the year.
Gordon_J
You have been a bad boy
That´s what happened to me for owning up to being a hun imposter
Hail Hail
Gladys Knight might just pip them to it. Maybe she`s one of the flockers
Monaghan1900 on 11 May, 2012 at 09:46 said:
My boss is Peter Principle on 11 May, 2012 at 08:48 said:
Good morning Ghents,
Looking for a bit of info on Nuff n Helps, Who Pay’s them their fee?
———————-
Rangers do.
#######
Ultimately the creditors do, as their fees mean there is less in the pot to go round.
And as the largest creditor is HMRC in the end the tax payer is picking up most of the tab.
Awe_Naw_,
Maybe I shouldn’t have mentined that I know you …
Is it still 500k to be named preferred bidder or has that requirement err walked away?
Gordon_J
LOL Definitely !!!!!
HAil Hail
don cambello on 11 May, 2012 at 09:55 said
It’s a strange one don. I work with many guys who are Toon fans and season ticket holders who have a soft spot for the Hoops, including some that have come up on our bus to games and loved it. Indeed several members of our CSC whould have a soft spot for the Toon.
In contrast to that I’ve encountered more grief on the streets and public transport here for wearing anything Celtic related than I have in Glasgow. As I said in an earlier CQN magazine article I expect the “Mickey Mouse league” stuff that we get but draw the line at being spat at as has happened on more than a couple of occasions.
Many in our CSC have different experiences so it certainly isn’t all bad.
Our CSC is based in the Tyneside Irish Centre which is a stone’s throw from Newcastle’s ground and it’s an interesting mix if there’s a televised Celtic away game on and “The Toon” are at home. The regular Irish Centre members are largely fine but the once a fortnight members who use the venue as a cheap and convenient watering hole are not all of the same mindset.
In terms of the blogs, my guess is – and I don’t encounter many of them – is that a lot of their comments are borne out of sheer ignorance. They don’t care about Celtic but they’re happy to slag it. I do notice on the odd occasion they have a blog about us that I’m taken to via Newsnow Celtic, that below the main article there are some replies from a Toon&Celtic perspective trying to put the blogger right.
I contacted Celtic about one particular site as they had a blog which was nothing more than a pack of lies about Celtic and poppies (I know, and I’m not going there!). I know for a fact that someone had Celtic “had a word” as the article was removed before a revised and much more accurate version was published.
As for the orange strip, bit of a strange one I agree but don’t think it would be as a result of any particular “bias”. Newcastle, like most clubs have had some awful away strips down the years and I think that was just another one. I hear from toon fans that this year’s new away top is like something from Start Trek but I can’t comment as I haven’t seen it myself.
So now that TFOD are dying the supremacist OO have thrown in their lot with the Unionist Labour party in Glasgow.
What is this parade review they are talking about?
Who is the senior councillor that is making the decisions that even the Police are against?
Hunbelievable.
My boss is Peter Principle on 11 May, 2012 at 10:18 said:
How is this done though, If they have no money left? Do they ring fence money at the outset or does it come from the sale?
—————-
Apparently, they have money left to get them as far as the end of the season. It is from this that the administrators will be taking their fee. You can bet they are acting in the best interests of the administrators and won’t lose out. When there is no money to pay them they cease to act.
HH
My boss is Peter Principle on 11 May, 2012 at 10:18 said:
=========
If The Blue Knights £5m bid is accepted then D&P get their £3m fee from this. By my calculations this leaves less than 2p in the £ for all the creditors.
Theweegreenman ……that’s politicians for you ……. They would sell their souls for a few tainted votes ……. We are in good hands….!!!?
Administrators are looking at setting a new date for final bids for Rangers. H.H.
Rubicon
C’mon,
Freddie who?
TT
reilly1926 on 11 May, 2012 at 10:34 said:
LOL …… Not after they pay the players / bills for a few weeks, until the inevitable liquidation….
why all the secrecy surrounding the new bidders ,are they people that the hordes will not be happy to welcome to Ibrokes .
Sally should demand to know “who these people are “as they will be the ones that will have to stump up the cash .
the Bridgeton butcher better buy another couple of mincers ,I no were a few will be going cheap next month
hail hail
know DOH
Rubicon
Are you suggesting a Georide Freddie?
My boss is Peter Principle on 11 May, 2012 at 10:18 said:
”How is this done though, If they have no money left? Do they ring fence money at the outset or does it come from the sale?”
They can rack up their fees and take them from the sale of the assets at the end. They don’t have to take them as they go.
The Administrators fees take precedence over everyone, even a secured creditor.
Big Nan @ 07:56
Cheers for posting that letter.
A very good point made – make the SFA financially responsible for its failings if just to see their reactions and nothing else. This organization is also funded by the tax payer, though unlike the huns, in an official capacity. So us Tims are paying them two fold for their applied bigotry and incompetence.
This to me is the elephant in the room. An absolute catastrophic failure of a public body that is long overdue a massive overhaul. Hopefully they are about to be exposed for what they are during the current shunannigans.
Georide? That sounds like something completely different! :-)
Geordie Freddie is what I meant!
St Martin’s Bhoy
Maybe we could invite the Geordie Dancer to Paradise to dance along with the wonderful Thai Tims singing to strengthen relations?
LB
Re the “yanks go home” banner
apparently Kyle Laffatme is dyslexic
I’d go and see Keith Jackson doing stand-up any day of the week.
I think he’s hilarious. His sketches about the Huns are always side-splittingly funny. In my opinion, Jackson and Davy Legless would be the perfect double-act.
Monaghan900 …… Actually, I would suggest the ‘fighting fund’ will contribute to D & P …….. SO IRONIC……LOL…!!!!!!!
Is there a deadline at lunch time? Or was that just another vague idea of a time when something might or might not happen. It’s difficult to tell in this saga.
Joe Filippis Haircut on 11 May, 2012 at 10:34 said:
‘Administrators are looking at setting a new date for final bids for Rangers.’
There’s that strange word ‘final’ again.
I’m beginning to loose my faith in the English language’s adequacy to deal with this glorious business of the Foe Malign in meltdown …
FF
LiviBhoy on 11 May, 2012 at 10:43 said:
St Martin’s Bhoy Maybe we could invite the Geordie Dancer to Paradise to dance along with the wonderful Thai Tims singing to strengthen relations?
:-) Intersting thought although I can’t imagine anyone would have eyes for anything other than The Wonderful Thai Tims!
I notice that Robbie Elliott, former Newcastle full-back is a big fan of the Thai Tims and was on Twitter last week urging folk to take a look as they “always put a smile on his face”. Good lad!
I was on the phone to my old man the other night and it’s the first time we have talked about the death of Rangers. Like a number of Celts we both have been very guarded and unsure of the outcome but the other night the old man gave me his opinion.
I was interested to fined out his view as I’ve been podcasting a few of the Scottish Sports phone ins of late and an opinion seems to have emerged that older Celtic fans would like to see Rangers survive against young Celtic fans wanting to see Rangers die.
It wasn’t the most articulate piece of prose I have ever heard but in its own way it said it all for me ” let the bastards rot in hell”.
“alex thomson@alextomo
UEFA confirm again they will treat CVAs like NEWCOs ie 3 year ban
ernie lynch on 11 May, 2012 at 10:25 said:
Monaghan1900 on 11 May, 2012 at 09:46 said:
My boss is Peter Principle on 11 May, 2012 at 08:48 said:
Good morning Ghents,
Looking for a bit of info on Nuff n Helps, Who Pay’s them their fee?
———————-
Rangers do.
#######
Ultimately the creditors do, as their fees mean there is less in the pot to go round.
And as the largest creditor is HMRC in the end the tax payer is picking up most of the tab.
Cheers Ernie & Monaghan1900
Another final final deadline? Thing is, surely even if they get a fantastic bid, they still have to complete due diligence then get the creditors to agree the CVA (did I read somewhere that the creditors have 3 weeks to consider the offer?) so where – or rather when – does this leave them? Even if some multibillionaire lifelong bluenose makes an offer today?
We’re going to be left in the position of knowing that the only reason the governors of the game here in Scotland didn’t sell their integrity down the river was because it all came too late.
traditionalist88 on 11 May, 2012 at 10:18 said:
PAWEL BROZEK has walked away from Celtic, bitter at alleged broken promises made by Neil Lennon.
Wonder if Brozek is another example of a player, for whatever reason, being foisted on a manager.
In December, Neil Lennon was talking of the need for some experienced players, among them a physically imposing line leader. Brozek is what he got.
I went to Newcastle for a weekend with the wummin at the time,we left our bags in the hotel n nipped out for a quick couple before we got a bite,when walking to the pub a couple,well the guy in the couple crossed the street,I could see he had had a drink,I had my Celtic top on that I had travelled with,he was about 20 yards from me n says in his geordie accent ‘Celtic fan?’ I says aye,’Kafflic?’,I says ‘aye how?’,his girl kept telling him to leave it and grabbed him by the arm pulling him away,I’ve never seen Newcastle in a good light since and have a strong dislike of the place,its team and its silly,daft accent.
67Heaven … I am Neil Lennon..!!..Truth and Justice will always prevail on 11 May, 2012 at 10:46 said:
Monaghan900 …… Actually, I would suggest the ‘fighting fund’ will contribute to D & P …….. SO IRONIC……LOL…!!!!!!!
——–
Aye, between the ‘fighting fund’ and the Brigton butcher!
HH
Rangers In Administration facts (No564)
The Huns have been involved in more finals in the last 10 weeks than they have in the past 10 years.
NEILMCCALLUMLENNON on 11 May, 2012 at 10:48 said:
I am an old timer and I too would happily have THEM die.
So much so that I would dance on THEIR grave.
Even if THEY were buried at sea.
Gordon_J backing Neil Lennon on 11 May, 2012 at 10:47 said:
“Is there a deadline at lunch time? ”
Blue Knights have said if no decision made by then that they are going for lunch.