I was out of mobile phone range for most of yesterday and returned to read more histrionics. On Tuesday I wrote: “Whatever ‘good news’ Duff and Phelps come out with later”, knowing full well (you all knew too) that news of Bill Miller’s departure would soon be countered by a fantastic (literally) piece of optimism from Rangers administrators. They didn’t disappoint.
Today’s Guardian tells us that one bidder has “proved to Duff and Phelps they have a means of securing current owner Craig Whyte’s shares.”
Administrator, David Whitehouse, explains: “One of the bids is for a stand-alone CVA and there are a number of hurdles which need to be overcome. Our view is that it is challenging, but it is not impossible. The purchaser who is talking to us about a stand-alone CVA has demonstrated to us that they have got a mechanism where Craig Whyte’s shares are not an issue.”
Ah, the illusive mechanism! So Craig Whyte is irrelevant again.
We are three months into the process, Craig Whyte is no more irrelevant today than he was on 14 February, he remains the Only Show in Town. Once he stops being the main event, HMRC take top billing. After them, the players will have their 15 minutes of ‘action’. Then you will hear more of the story. If there is anything left after all this, the SPL and SFA will have their say.
Prior to appointing Bill Miller preferred bidder Duff and Phelps explained why a stand-along CVA was no longer possible. No amount of creative thinking will change this fact. The season ends on Sunday, Rangers last chance to pull a deal together passed on Monday, when Duff and Phelps were unable to present a proposal to the SPL.
Even IF a phoenix is assembled for next season, or the season after that, it will be a humbled shell of what was once Rangers.
Rangers Football Club is disintegrating and will do so at an increasing rate in the weeks ahead. Again, cease and desist with the adolescent hysteria. Chill. Go for a walk in the rain and spare a thought for those football fans with genuine worries.
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.
742 Comments- Pages:
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Twists
Love the London tube as I have never worked in the city centre
Holland in June ..very nice
Hail Hail
Bobby Russell
There’s a refresh button on back of iPhone.
If that doesn’t work click the date n timestamp of last post on page and go to top of page and click the wee curly arrow .
MWD
Paul67 et al
Just heard about the possibility of Graham Souness going back to AyeBroke, somebody please tell me it is true. Maybe David Murray will make a bid…
Will the Circle be Unbroken (By and By)
Jeez, so all this time McGrain in Spain has actually been in Northampton……Chancer!!
What next?? South of Tunis actually has a small holding above Duntocher, and DBBIA is a proud Ayrshire mhan.
hen1rik on 10 May, 2012 at 13:50 said:
Lads this was on hun rumours page.
That’s fine the shares are probably over priced at £1.00, I’m sure Hector will be in full agreement with that scenario.
hen1rik on 10 May, 2012 at 13:50 said:
Lads this was on hun rumours page.
10 May 2012 10:43:02
”Craig Whyte to give up shares for £1 but gets to keep Ibrox Murry Park & Car Park, which he will lease to UK consortium then use the lease money to pay back Ticketus through sale of season tickets, It’s messy but it may just work!”
I’d suggested that a couple of days ago.
It’s an option. Liquidate, lease back to the newco who have a share offer and everyone’s a winner (apart from the creditors.Obviously).
FF_Fail @FF_fail
New post – School yard banter. Not to FF it isn’t. – http://followfollowfail.blogspot.co.uk/2012/05/school-yard-banter-not-to-ff-it-isnt.html Please RT. #FFF
I prefer using the CQN Rfsh button Apple installed on back of my iPhone.
MWD :-))
Thanks for the replies, guys(even yours, Laird, was expecting at least one smartarse!) Saves me a lot of time now. Used to go back a page then forward again!
(LudditeCSC)
I don’t normally post from work as I am usually too busy. But today is a mega-exception, deadly quiet. So sitting here eating biscuits, drinking tea and posting on CQN. Can life be any better?
Ground rules for trying to understand what’s going on.
1. LBG, Minty and Whyte were in cahoots over Whyte’s purchase. No one was duped and no one was dicked.
2. Whyte and Ticketus were, and are, in cahoots. Neither was duped and neither was dicked. LBG and Minty may or may not have been privvy to the Ticketus deal. I suspect they were.
3. The debt will be dumped and Whyte and Ticketus will make a profit.
Paul 67,
I read this blog eagerly every day and then proceed “to tell all the huns I know” exactly what’s happening next with the club they love, Magic! But chill and go for a walk? I just cant, its too good to miss any more of this.
Seriously though thanks for the regular reassurances, yourself and most of the timternet have been pretty much “bang on” during this, and if us bloggees are all acting like adolescents, its probably because deep down we still are, and we get worried that the huns might just wangle a wee bit of respite somewhere from the SPL or SFA or SNP or whoever.
Its like yer telling us to be calm in the last 5 minutes of a derby game, except the stakes are way higher. We just cannae.Are they bust yet? Are they bust yet? Are they bust yet? Are they bust yet?
I have recently become hooked on the TV series Game of Thrones. Full of intrigue, plots and sub plots as various parties battle it out for control of the seven kingdoms and the Iron Throne. Not unlike a certain scenario down Govan way where seven bidders battle it out for control of the Asbestos throne.
Hail Hail
traditionalist88 on 10 May, 2012 at 13:28 said:
Helicopter Ditches In Sea Near Aberdeen – Sky News
…leaving 16 in a raft awaiting rescue.
Thank God.
Celtic Mac on 10 May, 2012 at 13:54 said:
Apparently he denied this (LATEST) rumour this morning……LOL
ernie lynch – 1. LBG, Minty and Whyte were in cahoots over Whyte’s purchase. No one was duped and no one was dicked.
I’d rather be a doctor… (thumbsup)
Lunch time – way down south . [ linguine con vongole ].
On the terrace – avoiding a 90 degree sun .
The wonders of technology means I’ve just been able to enjoy a DJ in Houston , Texas , playing a track called Desperation Blues by a cow punk band called Cletus Got Shot.. Very apt !
Morning spent shelling thousands of pea pods and then preserving thousands of peas —– Way to go [ not ].
Big hoo hah re Juve mounting a big new badge above their stadium’s main entrance – It says —-
Juventus Football Club — Champions of Italy 30 Times .
Italian FA have told Juve to take it down , Juve have told them to get stuffed..
61 people have now been charged re Italy’s latest betting /match fixing scam — ex players / current players / ex Managers / current Managers etc . Clubs involved include Siena, Atalanta , Chievo, Bologna , Sampdoria and Piacenza.. 33 games are being investigated ..
Heading for the beach —- the newly arrived — No Regrets – Writings on Scott Walker [ Rob Young ] will be opened and begun ..
Early summer – watching the Hun die -way down south.
So the new mystery consortium have to spend enormous amounts of money saving the huns THEN have to pay for leasing Ibrokes, Murray Park and Albion St car park ,while playing Division 3 football with Div 3 crowds and Div 3 income?
Too good a bargain to miss, that is !
I think Sally could be in trouble. No not that one. Sally Magnuson the news reader. Im sure she was siggering when Chris Mc Laughlin (financial expert) was trying to explain the “new” developments over £and way. I always knew the lady had class!!
Has Ally called for Jim White’s mystery bidders to be named yet?
Do any of the site’s legal eagles know what the deadline is for Rangers to have submitted a set of audited accounts, in order to gain a license for the forthcoming season ?
Is this not the biggest stumbling block of all ?
St Martin’s Bhoy on 10 May, 2012 at 13:04 said:
………..
Great story, did you know there’s a Northampton Shamrock CSC? Used to travel to every home game with a full 53 seated coach.
Mickey Bell ran it, big Celtic Mhan.
TheGreenManalishsi
Re Game of Thrones
I have heard from more than one person that the TV series is good.
I have given it a miss because I read the books and I didn’t think a TV programme could convey the magnitude of the story.
The books were a bit of a slog, btw.
SPF
Bhodran Man
Met Mickey a few times in Bundoran. Brilliant guy.
LB
Kilbowie Kelt on 10 May, 2012 at 14:12 said:
Is this not the biggest stumbling block of all ?
——-
I’m sure that whatever the rule is, it can be bent, waived or changed for them if necessary.
Anyone else attending the ThaiTims concert tonight?
SPF
Right, what have I missed…
DD
the long wait is over- you make a very good point amigo
Has Ally called for Jim White’s mystery bidders to be named yet?
TheGreenManalishsi – I haven’t seen Game of Thrones, but I gather it’s an elaborate fantasy world full of weird and twisted creatures, like Ibrox.
That’s where the similarity ends though, because I’m pretty sure Game of Thrones will still be on telly next year. (thumbsup)
Kilbowie Kelt
It was March 31st, although it is clearly discretionary as I believe the wording of the rule is that “a license may not be granted” as a result of failure to lodge proper accounts.
I think Motherwell were in the same boat regarding accounts when they were in administration and did not have a license refused, although clearly their crimes against humanity were of a lesser order of magnitude than those recently perpetrated at Ibrox.
Johnny Clash @ 13 54
Duntocher ?.
Shudder ————– !
Bad memories of stranger in town me provoking an incident i n a boozer called the West End Bar. { ? ]
It cost me 8 stitches and a just bought Stop That Train by Keith and Tex 7″.which was left behind as I departed the scene. Ended up having to make do with a repress .
It still rankles.
DD @ 14.18
Home games ;)
TSOAL
That was funny!!! <o)))))))
Just catching up over lunch
THE EXILED TIM on 10 May, 2012 at 12:28 said:
Timabhouy
As I said I didn’t know there were cave [ cueva ] houses over there.
The area I live in there are whole villages that are caves.
In the village I live in. a cave was sold a couple of weeks ago for 6k, not big, about 90 sq mts, could stick that on yer credit card, spend 25k doing it up, a fine home for 30k.
TET 25 + 6 = 30 ???? Are you a Hun?
I’m Neil Lennon (tamrabam) – Has Ally called for Jim White’s mystery bidders to be named yet?
Apparently it’s a consortium of Indian businessmen led by Hanif Uno Dahistory and Hunza Rugly. (thumbsup)
donegaldanny on 10 May, 2012 at 14:18 said:
Right, what have I missed…
Lubo Moravcik has called it a day.
Are HMRC the London based consortium or is it Prince Charles and his mob who are in Scotland this week?
LB
The Taxi Driver @TheGlesgaTaxi
Turns out the London based consortium interested in Rangers is in fact HMRC