In three months Duff and Phelps have not made an inch of progress on the key issue, the Only Show in Town, Craig Whyte, who has security over the stadium and Murray Park is extremely likely to inhibit any attempt to dispose of these assets against his will.
Without a stadium the SFA and SPL cannot licence and admit a football club. While Duff and Phelps may have preferred the SPL to negotiate directly with the owner of Newco (once he was appointed), they were not in a position to ask the SPL for admittance yesterday without a stadium – perhaps a more practical explanation as to why they didn’t attend yesterday’s meeting.
Now that a CVA has finally been acknowledged as undeliverable, players will leave Rangers after Sunday’s visit to St Johnstone as free agents. There will be no Newco on hand to offer them a new deal. Those who can, will find employment elsewhere. This will be more than just the headline players, I know youth players at all levels have been scouted by clubs across Scotland and England. The chance to scoop up another club’s prime youth talent for free will not be passed up.
Getting a deal done this week with the SPL, the SFA, Bill Miller and the players would have allowed Duff and Phelps to maintain continuity, with Newco taking over for Sunday’s game. This will not now happen. The finger Duff and Phelps placed in the dyke back in February is set to slip.
Staff who cannot find employment elsewhere will remain at Rangers until 31 May. If Duff and Phelps sell ‘the club’ before that date, players who want to transfer to Newco can do so under TUPE regulations, which maintains their pay and conditions, however, they will be unable to transfer their player registrations until Newco is a licenced football club (which is dependent on SFA approval, which in turn will indirectly be dependent on Craig Whyte disposing of the stadium).
Duff and Phelps have no money to fund Rangers FC after 31 May, so must sell all assets before that date or the padlocks will go onto Ibrox and Murray Park. Yesterday was their last best chance to pull a deliverable deal together.
The fact Duff and Phelps didn’t even turn up to the meeting, and yesterday evening Neil Doncaster told Radio Scotland they didn’t return his calls when he phoned to ask why, indicates how on-target plans are.
Incredibly, I read one newspaper today suggested ‘Rangers [were]to benefit from SPL delay’. Where there’s life, there’s hope, I suppose. Somehow I cannot see Duff and Phelps’ Clark and Whitehouse high-fiving at the prospect of withdrawing from yesterday’s meeting. It is more likely that an undignified disintegration of a football club is set to take place in the weeks to come.
On a separate note: Just when Duff and Phelps would have presented Craig Whyte with a take-it-or-leave-it offer for all his assets, Brian Kennedy nips in as a second potential bidder for the stadium. Unless Kennedy is putting more skin on the table than Bill Miller all he is doing is fortifying Whyte’s negotiating position.
You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.
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poster on ff saying bill miller withdrawing, says daily record tweeting ?
Ole Boss Hogg chokin’ on his grits?
Marrakesh Express on 8 May, 2012 at 16:46 said:
”Its fair to say that he inherited a potentially good group of youngsters”
That’s a bit of an understatement. Jock Stein signed only one of the Lions. Moreover, we only had Ronnie Simpson because he had punted him.
There was a lot needing put right when Jock Stein arrived, but someone must have been doing something right to have assembled that squad of players.
Miller pulling out confirmed to Press Association it seems. Ha Ha Ha Ha Ha !!
Miller’s chucked it. He he he.
Never thought schadenfreude could be this good.
Has Miller pulled out or is this just rumour????
Hail hail
Where’s yer Billy gone, where’s yer Billy gone, far far away!!!
Ho hum stunkin’ hun where ye gonna run…
@magnusllewellin: BREAKING: US millionaire Bill Miller reported to have withdrawn from bidding process for @RFC_Official Rangers
That’ll be TFPLG isn’t allowed to go visit him then.
Miller is walking away!!!
Surely now D&P has no choice but to liquidate?
Or will Kennedy and Murray P have yet another go?
.
You Just Never Know what You gonna Get..:O)
Summa
Dusty has pulled the plug what now for the huns LIQUIDATION LOOMS Bye Bye
ibleedgreenandwhite1 on 8 May, 2012 at 16:57 said:
He’s chucked it Mate, just gone viral on Twitter..
Oh dear……
Kennedy the new “saviour”?
So Miller has withdrawn his offer……. cue Brian Kennedy and a brand new Rugby stadium where you can also play football….
The end is nigh, get the last of the jelly and ice-cream.
.
Walking Season starts Early..
Summa
is that a big truck i see departing the albion car park ?
When’s the new deadline for the Blue Knight to submit his final final final offer??
Look out for the Bloo Nites now stepping back in to try the newco incubator dodge as the last chance to save the Rangers.
We wish them luck, don’t we?
Ha ha ha ha
I hope the eventual book about this shambles includes a footnote or two on Mr Miller. What was he ever thinking? Why did Duff and Phelps waive the £500,000 deposit? Who gave him the idea?
Does Blackridge still have ‘a handgun free town’ sign as you enter from the M8?
Agent Miller played a blinder, and he didn’t even have to set foot in Ibroke
So that will be the end of Fakeover Part 196721….
Majic.
Maybe he couldn’t get a passport.
Followfollow explodes…
I am Bill Miller. We are all Bill Miller!
Ha Ha Ha Ha Ha Ha
STUPID HUNS
Douglas Fraser @BBCDouglsFraser
Bill Miller withdrawing from #Rangers: blames fans’ reaction (‘Yanks go home”) and having taken closer look at books
Matt Slater @mattslaterbbc
Unbelievable. Just spoke to Miller’s PR man in Glasgow, I was his 2nd call, 1st came from Rangers to check it was true #RFC
bill miller Image 1
AMERICAN trucking tycoon bidder Bill Miller has withdrawn from the process to take over Rangers, it was revealed today.
In a statement, Miller said: “As soon as I was announced as preferred bidder for Rangers, my team began to press ahead with our
due diligence. Until then, information had been limited to what was made available in the internet data
room and questions addressed to the administrators and their staff. In addition, I had preliminary
discussions with the Scottish Footballing Authorities and limited discussions with Ally McCoist. Upon
being named preferred bidder, discussions with Rangers staff started and discussions with all interested
parties intensified.
We continued to work through the holiday weekend in order to meet a very compressed schedule. By late
Monday night, it became clear to me that preliminary information, discussions and analysis were,
unfortunately, more optimistic than reality. Having no intention of negatively affecting the potential
outcome of the club’s future and after hearing the message from Rangers supporters and fans loud and
clear (“Yank go home!”), I notified the administrators today that I have withdrawn my bid for Rangers and
will not be moving forward.
I am deeply disappointed as I had considered the opportunity to bid for one of the most historic football
clubs in the world, an honor and a privilege. I wish Rangers fans, supporters and employees my very
best. I hope all your dreams and wishes come true. You certainly deserve it. I am most disappointed that I
won’t have the opportunity to walk into Ibrox Stadium on the day of an Old Firm match as my friends tell
me the hair on my arm will stand up and I will never witness such passion and spirit at any sporting event.
God Speed, Rangers”
Source:
http://www.dailyrecord.co.uk/footbal…6908-23852679/
The day after the SPL postpone a meeting to allow Miller time to complete his purchase, he pulls out.
Looks like Bill had a look at youtube and the Huns wrecking spree in Manchester and thought better of it or he had a bang on the head and woke up.
Whatever near miss there Bill!
:)))))
Email sent 30mins ago to Scottish PR company to withdraw his bid.
Is this the PR company run by former Clydebank owner, Jack Steedman?
Fat sally would never have been allowed to fly to the U S of A not enough border gaurds to body search him.
Probably explains the SPL mess yesterday
and the pantomime continues!