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.
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Indeed. I imagine McShagger agreed his pay cut on condition that he had a free lifetime membership.
Surely this beats Wonga.com as the scuzziest, bottom end sponsorship concept in history?
Paul
Was it the head of Catholic Schools In Scotland?
Thats who i blame
is the suggestion – duff n duffer guided whyte to ticketus?
Kano:
It was only my humble opinion.
EK is good if you have kids.
I’m just not a fan of sprawling suptopias where the car is the primary cultural object of veneration. Maybe i just need to recallibrate my expectations or learn the art of hoping for nothing.
What would make me laugh most.? If it was Walter Smith. But fat sally would be a close second.
Alex Thomson asking surgical questions on twitter-brilliant
If it was duff & duffer who made the suggestion why would they then take ticketus to court?
I’m confused.
Ashley Madison?…. ffs…sounds like a lady of the night,m’lord…
…bonkers…
verdantvic, it’s just absurd enough to be true.
This must handicap them surely? Would it be going too far to suggest they might actually have money tied up in Ticketus?
My money is still on Keevins but I would like to think that it was yet another masterful favour from Fergus McCann.
A statement on the investment company’s website read: “Octopus Investments would like to clarify the position of Ticketus with regard to the current Glasgow Rangers coverage.
“Ticketus is one of the many entities into which Octopus Protected EIS invests. Ticketus has purchased tickets for Glasgow Rangers games for a number of seasons in advance, as it has done for a number of years previously with the club.
“Ticketus does not lend money; Ticketus is the owner of assets – the tickets. Octopus is continuing to work with the administrators and Glasgow Rangers on this matter.”
Rangers owner Craig Whyte admitted earlier this month that he had used Ticketus to raise cash, but denied using the money to fund his takeover of the club.
Whyte also pointed out that the club had worked with Ticketus before he took over in May last year, but former chairman Alastair Johnston stressed that money was only accessed on a short-term basis towards the end of a season.
Bigges Ticketus
Life of Brian
Anythings possible Sparkleghirl-including you givn me your number-aye
I’m thinking of asking the financial authorities to let me off with my mortgage. The price I’d have to charge potential buyers so I can pay it off in the event of a sale is inhibiting any movement.
Surely justice is on my side?
‘So was due diligence carried out upon Mr Whyte? Undeniably fertile ground in which to dig .That is something Robert, and surely other fans across the country could agree upon?
On that, as on so many other aspects of Ibrox, much more will no doubt come out in the days and weeks to come.
For now, I’ll get this out, say thanks to all Rangers fans for helping me out when you’ve all got better thngs to be doing, and book my Easyjet passage back to Glasgow for next week – watch this space…
Hail hail
Wiz it Declan ?
Maybe he is Craig’s brother or close family member.
Come on declan spill the beanz
Jam67
Aye,I think they may finally be forced to take another leaf out of Rummy’s ideology. Stand by for a Daily Reckage headline thus:
ORANGE ORDER GO NUCLEAR!
;) at Vic
According to the Blue Knights who say Ni Ticketus have considerable cash reserves. Rangers don’t. Who’d win in a legal war of attrition?
Another day another does of Hans Christian Anderson.
I suspect my 8 year old could see through these fables.
Sparkleghirl
jist kidn getn ma libido mixed up wae the fitba-aye
right paul 67 i will cut to the chase it was me who told him about ticketus, there now its al out
Ok, ok. It was me. But he just misheard what I was saying.
I was standing outside central station on phone to ear, coffee in one hand. I dropped a 10 bob (change from coffee) some bug eyed bloke in a light suit had just got out a taxi (he’s also on phone talking money, brief case in other hand). Anyway, he spied my 50p at his feet as I looked over, and all I said was “kick it t’us”.
It was weeks later I put 2 and 2 together.
How hard can it be for one of the journalists out there to ask the 2 leading players in this whole thing.
“DID you benefit from a EBT “………. Mr and Mrs Custard
Beware the Ides of March.
How many will be dead before the Ides have gone?
http://flic.kr/p/92Dn8b
O.G.Rafferty
Cracking wee snippets, I just wish you could expand a bit:>)
Lord Lucan told me who Paul’s source is but Elvis and he swore me to secrecy.
Enjoying the speculation Bhoys. But ultimately we’ll only find this out when it goes legal. If it goes legal. Sometimes the threat of these things stops further developments. Unfortunately. But yet another avenue seems to be closing in rangers search for an escape route.
Paul67 – I called you a tease earlier on. I stand by it!
P67
Apologies if someone beat me to it…
Did the man in question have a fishing rod, some chicken and a 6pack on him by any chance?
Inside my demented head, it’s goin’,”Boomshakalakalakaboom!”
I am definitely in need of a kip.
I’ve been followin’ this since 7.30 this a.m. Mental,I know.
Well my fiver gets put on McCoist.
It would be funny if during a due diligence,meet the manager dinner that the oldest apprentice in town mentioned Ticketus after not only being told finance was a bit short but any ideas would see a tidy sum to buy players and to think yon apprentice also went on to cost Whyte and the huns European money amongst other footballing revenue.
That would be funny,cos he’s a funny guy is the apprentice.
Paul67 can keep a secret, it’s only the people who he tells that cant
Here is a good one from Twitter:
@CelticNetwork11 @rangerstaxcase Regards #RangersFightingFund – Has anyone considered this? If all Celtic fans (or anyone that doesn’t like Rangers) with a Paypal account were to send them 1p it would cost them 20p +3.5% (approx) in order to receive it.
Now they can’t get around these fees by claiming they are a charity, as they are not, they also can’t claim it’s personal money, as again, it’s not.
The money, as it is being used to fund a business, is also taxable and would need to be declared. #JustSaying
It was Ryan Giggs.
Tell me that’s no a self-portrait,Sparkleghirl?
In the irony stakes it has to be SDM or D&P.
Roddy Forsyth, first with the news, although hidden several paragraphs down.
Now what was my Paypal details again?
Paul67 – Was it Zheng Zhi? (thumbsup)
I smell Mint
do you smell mint
did they smell mint
will we smell mint
can anyone smell mint
White mint is nice
mint is a strong scent
time i minted off
HH
Mike