Ticketus, one of Rangers three major creditors, Craig Whyte and HM Revenue and Customs, being the others, have announced they will no longer work with the Blue Knights (or it is Blue Knight) consortium in an effort to buy Rangers.
Ticketus were crucial to Duff and Phelps hopes of being able to acquire Craig Whyte’s shares in Rangers. Although anyone who actually listened to Mr Whyte will know how unlikely this was, their withdrawal from the process formally brings an end to this fantasy.
Without Rangers shares, Duff and Phelps cannot sell the club. Mr Whyte also has security over Ibrox stadium, so they cannot sell the stadium either.
Some weeks ago suggestions were leaked to the media that Ticketus had agreed to forgive all but £10m of their debt. It was even suggested this figure would be repayable on easy terms. Now the company will take their place alongaspirationsside other creditors. In the event Rangers remain in business long enough to sell tickets for next season, revenue from the first (circa) 25,000 tickets sold for each game goes directly to Ticketus.
The charade is over.
Those hoping to see a club resembling Rangers form in the future have had months to secure a stadium, club licence, stadium, players, stadium, and commercial infrastructure. Instead they have stalled, chasing an unattainable CVA.
There is no time left, there will be no CVA and the chances of a phoenix next season is increasingly remote.
#OneteaminGlasgow,
There’s only one team in Glasgow.
One team in Glasgow,
There’s only one team in Glasgow.
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I’ll nap Top Smart in this 2:00 at Sandown.
T4
I know Deep Purple is getting on a bit, but 28/1 is a crazy price!
What a run from Sanctuaire in the last Sandown race. :-)
T4
Late on the blog–leaving grandson no.3 to airport with mum.Had already backed Lexi’s Boy,Memory Cloth, and Tour D’Argent in doubles and a treble.Then noticed young Jeremiah McGrath (watch this boy)on Gibb River!!Anyway a nice double.Selection runs in the 6.05at Doncaster–Smart Step.
TTTT
Thanks much,but long way to go yet,
Just look at that jammy b……….I me
my good friend Som mas.
Sorry,som mes :O(
Thai Tims at Celtic Park Today