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Big Rangers Administration/Liquidation Thread - All chat here!


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http://www.dailyrecord.co.uk/2012/05/08/rangers-in-crisis-american-bill-miller-withdraws-from-bidding-process-86908-23852679/

AMERICAN trucking tycoon bidder Bill Miller has withdrawn from the process to take over Rangers, it was revealed today.

In a statement, Miller said: “As soon as I was announced as preferred bidder for Rangers, my team began to press ahead with our due diligence. Until then, information had been limited to what was made available in the internet data room and questions addressed to the administrators and their staff.

"In addition, I had preliminary discussions with the Scottish Footballing Authorities and limited discussions with Ally McCoist. Upon being named preferred bidder, discussions with Rangers staff started and discussions with all interested parties intensified.

"We continued to work through the holiday weekend in order to meet a very compressed schedule. By late Monday night, it became clear to me that preliminary information, discussions and analysis were,

unfortunately, more optimistic than reality.

"Having no intention of negatively affecting the potential outcome of the club's future and after hearing the message from Rangers supporters and fans loud and clear ("Yank go home!"), I notified the administrators today that I have withdrawn my bid for Rangers and will not be moving forward.

"I am deeply disappointed as I had considered the opportunity to bid for one of the most historic football

clubs in the world, an honor and a privilege. I wish Rangers fans, supporters and employees my very

best. I hope all your dreams and wishes come true. You certainly deserve it.

"I am most disappointed that I won't have the opportunity to walk into Ibrox Stadium on the day of an Old Firm match as my friends tell me the hair on my arm will stand up and I will never witness such passion and spirit at any sporting event. God Speed, Rangers"

Edited by The big chair
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So back in comes TBK, without Ticketus. And they now have to stump up £500k to look at the books and discover they are a helluva lot worse they everyone has been told.

But this time they cant say they are stepping aside to let Miller take the reins. They are the last man standing.

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f**k, at this rate my '25p and a packet of Space Raiders' offer will make me preferred bidder. :(

laugh.gif I have £6.30 worth of Irn-Bru glass cheques in the bottom of my cupboard that I've gathered since last September. We could launch a joint bid that'd blow them out the water.

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Damn, that trumps my pack of chewitts and two curly wurlys. Will this never end!

We could always put in a joint bid with the option of a couple of ford capri hubcaps if we get preferred status before the end of the week. laugh.gif

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Damn, that trumps my pack of chewitts and two curly wurlys. Will this never end!

I have a Freddo, 2 packs of Rich Tea and a bottle of Ribena. Fancy a joint bid?

ETA: Dammit. Gazumped by PeeTeeJag :(

Edited by ray_of_licht
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So back in comes TBK, without Ticketus. And they now have to stump up £500k to look at the books and discover they are a helluva lot worse they everyone has been told.

But this time they cant say they are stepping aside to let Miller take the reins. They are the last man standing.

Isn't the trouble with that scenario that Duff&Duffer have made a public statement saying the Baron knight's bid was not viable or likely to be sufficient to make it an option as against an asset-sale liquidation (in terms of their duties to creditors).

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<b>"By late Monday night, it became clear to me that preliminary information, discussions and analysis were, unfortunately, more optimistic than reality."</b>

in english.............

"By monday night it was obvious Duff and Phelps have been bullshitting everyone that it isn't as bad as we all think it is."

Edited by PeeTeeJag
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