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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LOL. Blue Knights/Kennedy “bid” dependent on Craigy bhoy selling up and them somehow agreeing a CVA!
NEVER. GOING. TO. HAPPEN.
Guess it’ll keep the huns and their media lackeys happy for a couple days, the poor wee deluded souls.
Noel Edmunds just seen entering Ipox.
Deal or no Deal.
So that’s a reason to get excited is it?
Everyone and their granny knew their “bid” was conditional on a CVA being agreed and getting Whyte’s shares.
Whyte might say no. I don’t like BK or TBKs so go and do one.
If he is the irrelevance they would like to think HMRC and now Ticketus and Rapid Vienna and Mad Vlad together can torpedo Rangers. If they owe the taxman, they are done.
Nothing has materially changed since this morning.
Just more Hokey cokey bidding.
On Clyde Tonight:
Hugh Keevins says Rangers are just resting and pining for the Fjords.
D&P wanted uncoditional bids, you couldn’t attach more difficult to attain conditions. Getting them out of the mess IS THE PROCESS not a condition of the process.
Why don’t the Blue Knights just ask for a cage fight between a brontosaurus and a unicorn whilst they are at it?
fourgreenfields
At least stand outside the gates of power and shout things. Then go home and await the reconvention of the independant commision.
You will be informed in writing within 28 days of our final decision.
HH
Notice I did not say face he’s aw chin
traditionalist88 on 27 April, 2012 at 14:57 said:
Liquidation day, 4th June.
Sooner if we’re lucky, but I think they’ll limp past the end of the season.
RalphWaldoEllison-is Neil Lennon Season 2011-12 on 27 April, 2012 at 15:48
Sandy Denny what a voice
Having D&D looking after administration is as ludicrous as letting the Tories look after the NHS – f*#@ thats already happened
The report on SSN said it was conditional depending on attaining a CVA and getting Whyties shares.
I think they have more chance with the CVA here.
Agent Whyte ain’t giving f all away.
HH
/Bishop B
What a farce, the admin men must be loving this, racking up thousands a day, and all the while there is only one inevitable outcome.
But wouldn’t they have to agree a CVA with Whyte if he is a creditor? Can’t see him taking p/£ the lovable wee crook that he is!
HMRC very quiet on all this nonsense from Dupe and Dope.
Another point (one which I’m sure has been covered) but how can they get a CVA when the outcome of the BTC is not known?
Just a thought!
HH
/Bishop B
Duff and Duffer with a textbook display of how to make a deadline a dead and buried line.
obonfanti – Whyte is a secured creditor. He doesn’t go into the pot. He gets 100p in the £ before the CVA is even looked at, oh and Whyte claims to be owed 3 times what these charlatans are offering to put in for a CVA
From twitter
“Blue Knights and Kennedy bid for Rangers dependant on CVA. In other news I am marrying Kylie tomorrow dependant on her agreeing.”
love it.
traditionalist88
Is that deadline set in stone or will it be moved / extended as required ?
Could be worse somebody could actually be paying D&P to come up with this stuff……
Doc is Neil Lennon
they going on tour before they liquidate? ;)
HH
Len Brennan – you can’t. Simples. You try and Hector will be at the Court of Session making sure it is included, and it would be included…..
What are D&P going to say? On the face of it this new bid isn’t “capable of acceptance” any more than the others were.
Perhaps they will set another deadline for really really final (we mean it this time honest) unconditional offers.
And where is Bill Miller? Is the incubator still on the table?
Wow! TBK bid.
Is it unconditional – no!
1.Still only conditional on CVA being agreed.
2.Getting Whtye’s shares.
3.Dingwall being elected Pope.
Jim Delahunt @JimDelahunt Reply Retweeted Favorite · Open
Ticketus think liquidation better than Blue Knights who say no deal without guaranteed CVA and Whyte’s shares. The end? Or another twist?
D&D love to get the troops excited on a Friday.
Another weekend of what might happen now for the Rangers supporters.
I really hope we are not paid for the tickets on Sunday. Then Celtic get to choose whether to close them down or not.
LB
Fourgreenfields
It is a fluid, or should I say liquid, situation.
There will be no further comment on the matter as it may prejudice the entire procedure;)
All these stupid huns will be celebrating their blue nights have arrived Stupid huns
Why dont D&P take the remanants of the club over to that Clinic in Holland and put it out of its misery?
Wee Kayal could return to the team on Sunday.
A la mode or should that be alamo de of our illustrious bored “What ur the huns daein?”
…well let me tell you….
=====================================
Rangers Fans Unite call on all Rangers fans to support a march to Hampden Park to be held Saturday 28th April. At Hampden Park Rangers legend Sandy Jardine will address the fans.
The assembly point for is the Victoria Road entrance of Queens Park. March off is 1.30pm to Hampden where a short rally will be held.
The march and rally are against the unfair, draconian and unsporting punishments meted out to Rangers FC and its fans because of the behaviour of Craig Whyte.
We urge fans of all ages to come along and make this a day of protest for the
whole Rangers Family, everyone must rally around at this time of great crisis.
Rangers Fans Unite is an initiative created by fans inspired by the colourful
displays of the Union Bears and the Blue Order who have spearheaded the
organisation of the march. The march and rally is supported by every fans
organisation and website.
ernie lynch on 27 April, 2012 at 09:37 said:
Well I suppose its better than their mummies.
Still not willing to cough up £500,000 for preferred bidder status though,
What does that tell you?????? por cierto.
RogueLeader on 27 April, 2012 at 16:03 said:
so that’ll be a no from craigy bhoy then :)
excellent
Duff &Duffer must be close to running out of money to keep that mob operating.
Who is that diddy Paterson on SSN stupid boy he comes out with some crackers
” Things seem to be moving”
Sixteen roads to Golgotha on 27 April, 2012 at 16:07 said:
Wee Kayal could return to the team on Sunday.
I hope note mate, could be a brutal game for someone trying to get back to fitness.
traditionalist88 on 27 April, 2012 at 16:04 said:
One date tour, Linfield. Cultural exchange and all that.
It’s the only place that would welcome them now.
Don’t know if there’s any lovers of underground techno/electro on here but Drexciya – Bottom Feeders has just come onto the stereo. Seems apt since we spend so much time discussing them.
Why are they choosing to meet next to well known Celtic pubs?
Scum so they are….