Apologies for preaching to the converted, but it has been so many weeks since we heard Rangers recovery stories, all of which lauded in the press, none of which worth as much as the £1 the club was bought for 11 months ago.
Ticketus and Blue Knights join forces. So what?
Players who cannot play for anyone else until the summer agree to take a pay cut until 31 May. Big deal.
Duff and Phelps delighted that Ticketus judged to be a creditor [but whisper it, Rangers (IA) cannot set their deal aside]. Can you believe this was portrayed as good news for Rangers? Really?
All along the one man everyone needs has been vilified. Attitudes have hardened as Rangers best chance of coming through these times intact – doing a deal with Our Hero – has been made politically impossible.
Bill Ng’s opportunistic attempt to gain control of a cheap football franchise has ended with a few fascinating comments:
“We have serious concerns over the deliverability of the shares on offer”.
Have any of you offered Mr Ng a controlling block of Rangers shares? Unless you’re chilling in Monaco right now I doubt you have the authority. I think I’ll try to sell the Singaporean investor the Eiffel Tower. I don’t own it, but you get the picture. Ng also added:
“We would like to highlight that we have become increasingly uncomfortable and frustrated with the process dealing with Duff and Phelps, and the length of time that it has taken to reach this stage.”
Duff and Phelps are attempting to sell a metaphorical Eiffel Tower without owning it. Only Craig Whyte can sell Rangers, only Craig Whyte can release security to Ibrox and he will want tens of millions to do so. Unless a bidder is prepared to cover Whyte’s position all he is doing is wasting time. The administrators’ comment that Rangers major shareholder was “irrelevant” is perhaps the most damaging thought in 140 years of Rangers history.
Whyte is, as you know, the only show in town. Had Duff and Phelps made this clear to begin with, the recovery would have started weeks ago.
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