Today is one of the most significant days for the future of Rangers as Duff and Phelps legal challenge to Ticketus ownership of around £40m of tickets over the next three seasons plays out. Should Ticketus retain ownership of the tickets it considerably inhibits the phoenix scenarios Duff and Phelps are able to profile as they look to sell the club.
BBC Scotland’s business and economy editor, Douglas Fraser, Tweeted this afternoon that Duff and Phelps asked the court for permission to breach the agreement with Ticketus as it acts as an inhibitor to attracting potential bids for the club. Fraser also notes that there is little precedent for such a breach and that the Blue Knights consortium have been able to construct a deal recognising Ticketus’ rights.
I heard earlier today that Craig Whyte is particularly distressed at some of the derogatory comments fired his way this week, a few of which he feels are unjustified. The media are already speculating on what could happen to Mr Whyte in the event that police inquiries lead to a report being made to the crown office.
I understand supporters of Mr Whyte, who has maintained a dignified silence on many aspects of the deal, are curious as to why the person who led him to Ticketus has not revealed his involvement. I hear that early last year when Whyte privately revealed he was unable to pull enough funds together to complete the takeover, he was told:
“Why don’t you speak to a company called Ticketus? They are very helpful for this kind of thing.”
Having never worked in the football business, Whyte had never heard of Ticketus. When I heard who this was I laughed and laughed and laughed. I’m still laughing. This is the story that just keeps on giving. My source is not for going on the record, so discretion is the better part of valour on this one, but if Mr Whyte ever gets to the witness box, get yourself a front row seat.
The Daily Record today suggested Mr Whyte could end up in jail over this business. I wonder if he’ll be the only one.