Duff and Phelps in Bobby Tait added time
With no bids on the table and no one prepared to pay a deposit to get an exclusive and detailed look at the books, Duff and Phelps are adding on extra minutes like referee Bobby Tait in the famous Rangers-Kilmarnock game on 2 May 1998. Rangers needed a win to keep the pressure on Celtic but the game was scoreless after 90 minutes. This was a time before referees indicated how many additional minutes they would play and Tait, on his farewell appearance as a referee at Ibrox before retirement, allowed the game to continue well beyond the anticipated period as Rangers battered at Kilmarnock’s goal.
In the 96th minute Ally Mitchell scored for Killie in a breakaway and Tait brought the game to an end soon thereafter. There was nothing more the referee could do. Duff and Phelps have gone beyond their self-declared last chance date but, like Tait, there is nothing more they can do.
If they cannot sell the company, and no one else is prepared to put money into it, they will need to accept that they cannot present the company in a saleable condition (long suspected here) and will have to bring an end to proceedings. They cannot continue to spend creditors’ money without a viable strategy to earn a greater return.
I bet you remember where you were when Tait finally blew his whistle to end that game in 1998. You’ll long remember the moment Duff and Phelps bring the curtain down on Rangers Football Club.
Buy a hard copy of CQN Magazine, issue 7, by clicking on the button below. You can read online here.