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.
The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.
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has doncaster now got D&D reason for the cheats charter postponement
Dermot Desmond could easily afford to buy them,and pay off all their debt & any future fines that they might be hit with.
What would be the point though?
http://www.youtube.com/watch?v=ktOZTTeo_Z0
Well at least they don’t do walking away…… oh, oh wait, my bad
So somebody told Bill it was a Norwegian Blue and not a Light Blue?
Bloody farce, somebody put them down.
alex thomson @alextomo
Bye bye Miller – as we predicted last week. Watch for CW with other deals potentially on the table.
I can’t wait to hear how Dumb + Dumber spin this as a positive
A final, final,final, bid from the Blue Knight must be around the corner? :)
I spoke too soon…..it’s not so quiet on here any longer.
Chapter 67 of the never-ending story.
We are “more than a club”
The FoD “more optimistic than reality.” Bill Miller 2012
However he appears to be a very nice man as
” I wish R*****s fans, supporters and employees my very best.
I hope all your dreams and wishes come true. ”
( Bill I think you were right first time “more optimistic than reality.” )
Love it
The Onlooker
If ibORCS become primarily a rugger stadium, will thems be called the duffers bliddy phone, I typed ruggers and it changed to duffers…. Perhaps the auld iPhone is even more intuitive than I thought.
Miller pulling out is like a new signing so says Mark Hately.
Anyone remember Brian Rix and the Whitehall Theatre farces?
D&P & Rangers are the modern equivalent.
They’re in the last chance saloon now….
Anyone know exactly what the odds are on some diddy from Larkhall winning the Euromillions
HH
They realy are taking the p*ss out of Chris McLaughlin.
Chris McLaughlin @BBCchrismclaug
#Rangers administrators say 3 other bids on table. Not including Knights/Kennedy. 1 UK and 2 international.
Retweeted by PBCSC
Just logged on after renewing my season ticket for next year.
Quel surprise Yank Hun Bid withdrawn.
Will Celtic give me my £609 back as I’m only interested in the two Hun games, (so I’m told)?
Double celebration on Sunday. Our Championship, their liquidation.
EC67
Another month of luvvly jubbly for los Dufferos…canny little feckers,eh?
Wait, though. We are just football fans. Neil Doncaster says all that’s needed is a bit of time for things to become clear.
Meanwhile, don’t let Toto near that big curtain.
Craig Whyte holds the key to any deal to save Rangers that has been the casea since the begining of this fiasco.The wee bug eyed guy is playing a blinder.H.H.
Craigy Craigy Whyte to form a newco?!!
Wonder who will be the first MSM journalist to claim this is good news for rangers as it means the blue knight can now rescue rangers which is really what they wanted all along. Who ever makes the claim will be exposed as the biggest hun supporting journo on the planet.
“Bill Miller walking away is a like a new signing” Mark Hateful.
Tenesse Tycoon Bill finds a problem with the ‘ashtray’ and pulls out !!
Blue Knights to the rescue………………..MSM’s next outpouring!
Later today take time to remember Loughgal .
Taxi for Duff & Phelps … ?
We may now find Whyte is now moving forward with his plan for newco Rangers to start in div.3.The Orcs will be desperate to hang on to his coat tails as he is there only hope we may see them talking him up soon.H.H.
FF will be interesting right now STUPID STUPID HUNS
HAIL HAIL
new article posted.
Truckus Interruptus.
… Or should that be ‘tow truck for D&P’ … ?
totally off message, the reviews had me in stitches
http://www.amazon.co.uk/product-reviews/B000KKNQBK/ref=dp_top_cm_cr_acr_txt?ie=UTF8&showViewpoints=1
So D&P twist or bust?..
a friend showed me it !!
I have a real fear, that I will die before
seeing the end of this fiasco.
Best laugh is MSM have been struggling manfully for a week trying to find out about him………… haha
HH
Is it a cohuncidence?
SPL meeting delayed ……… towing ball breaks free??
HH
Miller withdraws his offer?!? What are the consequences for thems??
RE: Bill Miller runs away!
Thank God – I was afraid of being doomed to endure Tennessee jokes on this site for eternity.
My guess is that rather than blame Murray et al and their own stupidity there will be some Timmy conspiracy.
Expect a Folly folly thread that wants to identify the indivudals with the banners that chased their last hope away. They will be Celtic fans or at best Chelsea.
leftclicktic on 8 May, 2012 at 17:05 said:
Fat sally would never have been allowed to fly to the U S of A not enough border gaurds to body search him.
Not enough border perhaps