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Devil in the * detail over Whyte shares

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By on CQN BLOG & Comments

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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  1. praecepta on

    TET

     

     

    Got your emails – will reply in the morning.

     

     

    Off to bed before I start talking myself into manning barricades/ demo marching mode!

     

     

    H!H!

  3. Greenlion2 on

    ˙sʇɹɐʍ ǝɥʇ ǝɹoubı ˙suoıdɯɐɥɔ ǝɥʇ ǝɹɐ ǝʍ ˙ɔɟ ɔıʇןǝɔ ןıǝu /o\ ouɐʞ ˙pʍ sɯɐǝquooɯ on 11 May, 2012 at 00:18 said:

     

     

    I shouted to you tonight to a guy 2 rows in front of us. The lioness said thats not MWD he is tooooooooooo thin..

  7. macanbheatha on

    TET

     

    I think me and that girl broke a few windows in

     

    Belfast city centre circa ’76:-)

  8. Fortunes Favour Mibbes on

    Anyways,

     

     

    Is Minty not due a re-appearance sometime soon? He must be missing the limelight….or should he be concerned about what the huns think about him..? Karma will be a beatch. For all the hate they unleashed on our Lenny, those responsible will have it coming back to them soon enough from those whose hate-filled strings they pulled….Karma’s a clever fecker.

     

     

    Fergus Slayed the Blues made a very insightful point earlier tonight re Miinty’s role in this.

  10. THE EXILED TIM on

    Fortunes Favour Mibbes

     

     

    Me thinks that minty will come to the fore again when mark daly does his bit at the end of the month.

     

    I have it on very good authority that he will get his gong taken away from him.

     

    That comes from reasonably high up people who are members of the goat breeding fraternity,

     

    I would say that he has embarresed them, but that is a given, or will be soon enough.

  12. Sixteen roads to Golgotha on

    There are some smart,smart cookies amid the Celtic support…that’s all i know.See der hun is fly and sneaky,and treacherous…but intelligence is something else.

     

     

    I never once pretended to understand any of this caper,yet i can still notice that we are all over them like a rash.Every trick and turn of their’s is being countered and demolished,through rational thought and correctness.They are like a cornered rat,or like when a person is playing poker and has most of the chips – you are able to dictate,raise,see,fold or whatever you so wish to do…because you have got all the time in the world.

     

     

    It’s a beautiful thing,to watch on,as our great intellects play them like a piano.

     

     

    Fair play to each and every one of yous.

  13. northbhoy ... \o/ on

    Good evening and welcome,

     

    Aye………. always seem to be catching up…..

     

     

    lochgoilhead bhoy on 10 May, 2012 at 23:31 said:

     

    related to builders of magnificent structures …..

     

     

    Not sure what yer faither built but ma faither built the QE2 himself and ma bhoy built the new Riverside Museum…..so proud so proud ….did it .himself……after practising wi lego !

     

     

    Home after the concert at Lally’s Concert Hall……absolutely ace……the different bands……esp the Soviets…..the tenor Innes……the champion Irish dancers…….the champion pipe band…….the champion football player…….the champion football manager……..the Champion Thai Tims…….all in a great cause !

     

     

    Hail Hail

  14. Saint Stivs on

    Greenlion2 on 11 May, 2012 at 00:19 said:

     

    Im just home from a remarkable C(K)eltic night in the concert hall with the Lioness and all of the cubs. I was in the poor seat 9 rows back……

     

     

    ——————————————–

     

     

    not getting all bro-mance but was thinking about you last few days with work conversations and thinking how you never post much nowadays.

     

    know you had the wee health scare (having to attend a doctor in the Port)

     

    and was hoping your ok.

     

     

    your post tonight confirms , back to your usuals, rubbish posting.

     

    did you know Broonie had a shipyard in Clydebank ?

     

    naw me neither, probably traded it to Grant Furlong.

     

     

    anyways, happy to know your mended.

     

    and then wisnae the bad seats, you should have seen the toe trampling eejits in the first 3 row.

     

     

    ppps

     

     

    the thai tims.

     

    world class

     

     

    bbc alba

     

    deffo tims, deffo. brilliant programme.

     

     

    ppppppsssss

     

     

    man of the year

     

    Lennon

     

    Paul

     

     

    amazing held together beautiful interview on ALBA, how he held it together while talking about Reamonn and the kids.

     

     

    thats a Knighthood there, not the robbin RBS/HBOS/MURRAY axis.

     

     

    keep it lit

  19. macanbheatha on

    TET

     

    How could you tell I was on to my last can?

     

    Buenas noches mi amigo

     

    Always good talking (?) to you

  20. Fortunes Favour Mibbes on

    TET @ 00:53

     

     

    Aye, it’s surely a cert.

     

     

    But may never have happened without the good work of a few “internet bampots”.:)

     

     

    History in the making right here !!

  22. paulsatim is neil lennon on

    http://www.scotsman.com/sport/football/spl/tom-english-duff-phelps-are-the-boys-who-cried-wolf-1-2285122

     

     

    Tom English: ‘Duff & Phelps are the boys who cried wolf’

     

     

     

     

    Published on Thursday 10 May 2012 03:20

     

     

    “Can the Duff & Phelps boys explain the riddle of the three new bidders and how they materialised from thin air?”

     

     

    Riddle me this. If train A leaves the station doing 60 miles an hour and train B leaves one hour later doing 85 miles an hour, how long will it take train B to catch up with train A?

     

     

    You don’t know? Okay, how about this one…

     

     

    The height of a building is 1554ft. How long would it take an object to fall to the ground from the top? Use the formula s=16t^2 where s is the distance in feet travelled by an object falling freely from rest in t seconds.

     

     

    You can’t be bothered? One more, then…

     

     

    A bus travelled 465 miles in 11 hours. What was the speed of the bus?

     

     

    Haven’t a clue? Fair enough. You know there’s a guy in Russia who could figure this stuff out in his sleep. He’s the boffin’s boffin. The boffinator, if you will. There isn’t a puzzle this bloke can’t solve. He’s big and tall and hairy, lives with his mother and looks like Rasputin. That’s how he got his nickname – Mathsputin. There was one great mystery that stayed unsolved for a century until Mathsputin took a look at it, stroked his beard for five minutes and worked it all out on a blackboard. Somebody tried to give him a million dollars as a prize but he didn’t want it. Said he didn’t deserve it. Then he went home to his mother.

     

     

    Maybe Mathsputin is ready for another challenge. If so, he should get himself on a plane to Glasgow and get himself in front of the Duff & Phelps boys as they try to explain the riddle of the three new bidders and how they materialised from thin air the second Bill Miller vanished in a puff of smoke. It would be a test of his brilliant mind, for sure.

     

     

    One minute there’s only Miller and the next there are three more options, all supposedly with deliverable bids, two of them at such an advanced stage that we’re told that one of them could have the club in the bag by Sunday.

     

     

    Mathsputin: “A simple mathematical equation, x^n + y^n = z^n, tells me that Rangers have been in administration for precisely 87 days.”

     

     

    Duff & Phelps: “That is correct.”

     

     

    Mathsputin: “And by using the tried and tested formula an = -S(n-1) + sqrt(S(n-1)^2 + 1) I know that after 87 days you have managed to lock-down the sum total of zero bidders.”

     

     

    Duff & Phelps: “Right again, oh wise one.”

     

     

    Mathsputin: “So after 87 days of trying and failing to find anybody who had the money and the bottle to buy this troubled club you are saying that two brand new bidders (plus Bill Ng) have appeared from nowhere and that these previously unheard of consortiums are so far down the road in their due diligence that you may have a binding agreement come the weekend?”

     

     

    Duff & Phelps: “Er, that’s what we’re saying, yes.”

     

     

    Mathsputin: “They told me once that the Poincare Conjecture was unsolvable. They said the theorem about the characterisation of the three-dimensional sphere would never be explained, but me, with my extra-large brain, came up with the solution. But I’m not so confident this time. A mystery UK-based consortium who have risen without trace in a matter of days? A syndicate of people who have never shown any interest in the club have now lodged an indicative offer of about £11m? A secret collective have supposedly done a deal with Craig Whyte for his shares? All in a few days? I have solved some of the most complex questions known to man, but I have to say, the conundrum of the covert consortium and their phantom-like entrance to this mystery might stump even the great Mathsputin.”

     

     

    Please excuse the silliness, but in ways it’s entirely in keeping with the way this Rangers story is going. On Monday, when Miller withdrew his interest in buying the club we shouldn’t have been all that surprised.

     

     

    There was always something odd about Miller’s interest, something that didn’t add up. Why football when he was a fan of cars? Why Rangers, a club he’d no connection with? Why Scotland, a country he’d never visited?

     

     

    Even last Friday, Ally McCoist said he was intending to fly to Tennessee to visit Miller and that was peculiar in itself because if Miller really was intending to make such a huge investment then wouldn’t he have been the one to fly to Glasgow to look at what he was buying, to talk to the staff, to maybe meet with some fans’ groups and ease their fears?

     

     

    Miller turned out to be a time-waster, but his departure has shone a light on certain aspects of this takeover shambles. Clearly the American didn’t appreciate the attention he was getting from the Rangers zealots but the more interesting part of his statement the other day was on the financial side. A veritable two minutes as preferred bidder with full access to the Rangers finances was enough to frighten him away.

     

     

    We don’t know how much Miller is worth but, quite obviously, he came to the conclusion he’s not worth enough to scale the fiscal Mount Everest that awaits the new owner, not to mention the desperate flak that this person, or persons, is going to endure from the supporters as the books are brought back to planet earth from their current position in cloud cuckoo land.

     

     

    There are so few certainties in this tale, but here are a couple. Rangers are going to run out of money at the end of this month.

     

     

    Unless they can persuade one of these mystery bidders who fell out of the sky to fund the club while their CVA/Newco is being arranged – or not arranged depending on whether you believe that the bidders exist at all – then in all probability we are going to see the greatest exodus in Rangers’ history, we’re going to see the stellar names depart because the club can’t afford to pay them.

     

     

    Then what? A belt-tightening regime of profound proportions, a slashing of the wage bill, possibly by half. Rangers need to cut down their running costs by £10 million a year. Woe betide the character that sells Steven Naismith and Steven Davis, Steven Whittaker and Allan McGregor and replaces them with youngsters and journeymen. Unless the secret bidders are the reincarnation of the young and hubristic David Murray then that is Rangers’ fate. That is the best they can hope.

     

     

    The worst? Well, anything could happen. Liquidation? Every chance. Total cessation? It’s not as insane a concept as it might have once seemed. Duff & Phelps are the boys who cried wolf. They’re talking up these new guys in the same way they talked up Miller and not many people out there are buying what they’re saying. Nobody’s buying the club either. Lots of talk but no action and all the while the clouds above Ibrox grow ever darker.

  23. THE EXILED TIM on

    macanbheatha

     

    Come over for a holiday some time.

     

    All you need is a flight, free accomadation, see how they live in the sticks of rural Spain.

     

    mail me

     

    nohunshere@hotmail.com

     

     

    Deffo bed, work in the morning, then shopping, dearie me, it’s never ending.

  24. Fortunes Favour Mibbes on

    “the clouds above Ibrox grow ever darker. ”

     

     

    Didn’t read the rest. That last line was enough to make me smile. There was us thinking for the last how many years that they couldn’t get any darker.

     

     

    Black hole? :)) Space time continuum failure explains the oddness in daily occurences. Time has reversed three fold on itself. The implosion is long over-due !!! THANK GOD !!!!!!!!!!!!!!1

  25. Neil canamalar Lennon hunskelper extrordinaire on

    FFM,

     

    cannae get the office to work now, stick hotmail or yahoo at the end of my name, .com it and we’re in.#

     

    hail hail

  26. Neil canamalar Lennon hunskelper extrordinaire on

    nae doubt I’ll get a few more death threats but, well what we gonnae do, its scotland innit.

     

    hail hail and night night

  31. Neil canamalar Lennon hunskelper extrordinaire on

    I took this as a joke, but forwarded it to the polis, who have still no replied, are they allowed to ignore this or are they allowed to select who they are allowed to ignore ??

     

     

     

     

    From: Dwaggin

     

    Sent: Sat, 5 May 2012 22:47

     

    Subject: SOMEONE YOU KNOW WANTS YOU DEAD

     

     

    You have been betrayed!!! It’s a pity that this how your life is going

     

    to come to an end as your death had already been paid for by someone

     

    who is very close to you from all investigations.

     

     

    I have ordered 3 (three) of my men to monitor every move of you and

     

    make sure you are not out of sight till the date of your

     

    assassination.

     

     

    According to the report I gets, you seem to be innocent about what you

     

    have been accuse but I have no business with that, so that’s why am

     

    contacting you to know if truly you are innocent and how much you

     

    value your life.

     

     

    Get back to me if you sure want to live on, ignore this mail only if

     

    you feel it’s a joke or just a threat.

     

     

    Don’t forget your days on earth are numbered, so you have the chance

     

    to live if only you will comply with me.

     

     

    WARNING: Tell no one about this mail to you because he or she might

     

    just be the person who wants you dead, and if that happens, I will be

     

    aware and am going to make sure you DIE instantly.

     

     

    I will give you every detail of where to be and how to take any

     

    actions be it legal or illegal, that’s only when I read from you.

     

     

    You need to stay calm and act unaware of this situation and follow

     

    instructions because any move you make that is suspicious; you will

     

     

    DIE as your days are numbered.

     

     

    Lucky You

     

     

    Toodle Pip!

     

     

    Spike Dwaggin

     

    International Assassin / Slayer

  32. Fortunes Favour Mibbes on

    canamalar @ 01:38

     

     

    ?? wtf ? From lookin at it, looks like hun mentality :((

  33. Neil canamalar Lennon hunskelper extrordinaire on

    FFM,

     

    I was thinking new scam for the frightened,

     

    what is very annoying is

     

    I forwarded this to the polis and have had nothing back, no even an acknowledgement.

     

    I expect invertibraic eunochs would actually find this kind of stuff intimidating and actually follow the clowns instructions.

     

    Would love to get the spelling right on that last wan so I could use it without being pulled up :oD)))))

  34. Neil canamalar Lennon hunskelper extrordinaire on

    anyroadup,

     

    time for baw baws,

     

    they cant harm me, with my wings of steel

     

     

    BEEP BEEP

  35. Neil canamalar Lennon hunskelper extrordinaire on

    night night god bless and dont let the murderers bite, fear is the only thing we have to fight, in thats a dawdell :o)

     

    hail hail

  37. miki67 on

    “According to Celtic legend, the “fride” is a Scottish goblin which lives under rocks and lures travellers to their deaths unless given treats of bread and milk.”

     

    This makes me think that der hun has been around for much longer than was originally thought.

  41. Sixteen roads to Golgotha on

    miki67 on 11 May, 2012 at 02:36 said:

     

     

    Doesn’t look like it squire.

  42. 'GG on

    WARNING

     

    THE EXILED TIM on 11 May, 2012 at 00:41 said:

     

    macanbheatha

     

    All she is, is a few years older, can’t take away what’s in the heart,

     

    Halloween last year.

     

    Like your goodself, don’t know if this will work, me and computers, like a fish and a pushbike.

     

    TET

     

    I picked up a virus when I clicked on the link. It is doing a false scan and would probably told me I needed some assistance.

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