Big Rangers Administration/Liquidation Thread - All chat here!

[WBR]

In his sportsound interview, Green was asked what his reason was for being involved. After some waffle about massive potential and investment from the Far and Middle East, he said something along the lines of facilitating the transition to a....hesitation...new ownership. I reckon he nearly said newco. Anyone got an audio clip or link to that?

The continued dependancy on European qualification as part of their business plan is crazy and a CVA will be rejected by HMRC for that alone. They must know that, D&P must know that so why the charade? Orcophobia?

[stonedsailor]

I'm bored of poker, who fancies chucking in a million quid each to watch 100 million bigots greetin?

[Bobby_F]

Some edited highlights of the Charles Green press conference:

• CVA proposal will go out on 21 May
• Creditors Meeting 6th June
• After that the creditors have a 30 day cooling off period
• Backup strategy in the "unlikely event" that the CVA is not agreed is to go down a Newco route similar to Bill Miller's
• administrators are confident that this is the best deal for Creditors the alternative according to Green is they get nothing
• Green has no previous relationship with Craig Whyte
• He has however met him three times recently to get his legally binding agreement to transfer shares for £1
• £8.5m of new money will go to the CVA along with the clubs debtors of £3.5m (primarily the Jelavic money)
• 20 individuals and families in the consortium
• They have all pledged money that has been ringfenced for Rangers
• They come from the UK, Middle East, Asia and the Far East
• Nobody will own more than 15% of the club
• Green will not name names today as there are still hurdles to clear before it can be finalised
• Green would be Chief Exec until the club was stabilised and then a PLC board will run the club
• There will also be a footballing board
• He wants to Develop the brand of RFC in Asia
• Green has been involved in more than 10 Stock Market listings
• He was approached by a family from Singapore to front a bid to buy Rangers, initially he said no.
• Green has been in contact with the administrators for 4 or 5 weeks, was not in a position to make a bid at the last deadline
• Intentionally kept his bid out of the press
• This is not preferred bidder status, this a legally binding contract.
• Problems at Sheffield United were caused by previous regimes, he sorted the mess out although he did admit to selling three strikers
• Two directors of Sheffield Utd prior to his involvement , later ended up in jail.

This is the only point that matters. The rest is camouflage.

I believe that they have agreed prices for a NewCo to purchase all of Rangers assets "in the unlikely event" (aye, right!) that a CVA is not agreed.

Clear as day the game plan is to pressurise the SFA/SPL/clubs into allowing the NewCo in to the SPL next season with as few handicaps as possible.

The money they are talking about putting up has to be enough such that it does seem to be credible (it isn't of course, but it is slightly less ridiculous than the Blue Knights) but none of it will make its way to creditors. They will want to use every penny they have to make the NewCo as competitive as possible next season.

The position has not really changed in that we still need the football governing bodies in Scotland to be strong and fair, and HMRC to demand that they get as much of our money back as possible - and if they suspect that money that could come to them is going to end up as a "war chest" for Rangers 2012 then they have to play hardball - otherwise it will set a precedent for other/bigger football clubs to follow.

[wunfellaff]

This is the only point that matters. The rest is camouflage.

I believe that they have agreed prices for a NewCo to purchase all of Rangers assets "in the unlikely event" (aye, right!) that a CVA is not agreed.

Clear as day the game plan is to pressurise the SFA/SPL/clubs into allowing the NewCo in to the SPL next season with as few handicaps as possible.

The money they are talking about putting up has to be enough such that it does seem to be credible (it isn't of course, but it is slightly less ridiculous than the Blue Knights) but none of it will make its way to creditors. They will want to use every penny they have to make the NewCo as competitive as possible next season.

The position has not really changed in that we still need the football governing bodies in Scotland to be strong and fair, and HMRC to demand that they get as much of our money back as possible - and if they suspect that money that could come to them is going to end up as a "war chest" for Rangers 2012 then they have to play hardball - otherwise it will set a precedent for other/bigger football clubs to follow.

b b b bbbut to backup is to reverse, and there is to be no reversing

[Co.Down Hibee]

3 for Aluko today....that's 8 since the turn of March.....considering he only managed 4 though Dec-Feb period that's an impressive 200% improvement in goalscoring.

Aluko is an excellent player ,can't see Rangers keeping him because he won't be short of offers.

[P45]

That's what Green said. Administrators reckon it is "ulnlikely" a CVA will not be agreed. I sincerely hope this is not a bluff.

I'm guessing a fire sale of the assets would only generate enough to pay D&P, maybe this prolonged administration has been a masterstroke.

Edit: Of course there is the small matter of CW's secured creditor status as well.

What are they basing that on?

Surely they need to wait and see how much they own first.

What pence in the £ is Green expecting HMRC to accept? 3 or 4?

They rejected Portsmouth's 20p in the £ offer.

Have D&P even talked to HMRC?

What a pile of pish!!

[7-2]

I'm reading on FF that the St Johnstone DJ played The Liquidator at half time and With or Without You at full time. The latter seems an odd choice, but good work on The Liquidator

We always play The Liquidator but I'm glad to see it was allowed to be played.

Our tannoy man isn't exactly known for his new material. I think too much is being read into the latter especially with lyrics saying cant live without you.

[welshbairn]

In his sportsound interview, Green was asked what his reason was for being involved. After some waffle about massive potential and investment from the Far and Middle East, he said something along the lines of facilitating the transition to a....hesitation...new ownership. I reckon he nearly said newco. Anyone got an audio clip or link to that?

I think the plan will be to get the club debt free, cleaned up, back in the SPL, and sell it on. The price they're paying for a club with the size of Ranger's "fan" base, is tiny, understandably so given the mess it is in and all the imponderables. If they're brutal about shafting the creditors, cutting costs and exploiting the orcs they could make a fair profit selling on in a couple of years, even if they start from Div 3..

Edited May 13, 2012 by welshbairn

[MEADOWXI]

Having a 'warchest' could be a stroke of genius.

Borrow £20M from a bank or Ticketus say (I would be happy to lend them as they all seem stand up guys after my due diligence of noting they are the only bidder) and as a registration embargo exists stick it in an ISA for 12months, could be the clubs biggest earner of the year, can't use it to sign anybody

Edited May 13, 2012 by MEADOWXI

[)typically]

Aye, but what is the contract?

I might be mssing something very obvious.

[Tibbermoresaint]

Greene said that Whyte giving up his debenture was key. So, does that mean he's no longer a preferred creditor or even a creditor at all?

[pozbaird]

I obviously don't know what Hughie Green's plan is. However, I'll hazard a guess. My guess is that his plan is to make a quick buck before riding the fcuk out of town, leaving Rangers just like Portsmouth - fcuked not once, but twice.

Time will tell if I was right.

[wunfellaff]

Currants now getting uppity after they think they're saved

Posted Today, 01:00 PM

POPULAR

Now that it looks highly likely we will be competing in the SPHell as Rangers FC next season, are the plans still afoot to boycott these clubs who laid the boot into us when we lay on the street like a wounded animal?

As I said before, I was confident we would rise again, no matter how or where. And we should NEVER forget these c***s who fed on our carcass for the past few weeks with their blatant attempts to hold our heads under the water. Well folks, it looks like we've raised our heads from the water now, and after we've drawn breath, and breathed fresh life into our old club, we must sit down and take stock of all who took advantage of the wounded animal that was Rangers Football Club.

Clubs like Dundee United, Kilmarnock, Hibernian, and those others who had their wee kick, need to pay. Let's put them down where we've recently been, and let them see how football in this country is without the Rangers, and more importantly, the fans of our great club.

We should be encouraging the club to refuse away ticket allocations - If we don't sign this part of the Season Ticket Form, then that's probably what will happen.

We should NOT purchase tickets for away games.

We should refuse our invitation to take part in the SFA's Scottish Cup.

Our team will be seriously weakened for the next 2 or 3 years, with only an outside chance of winning the SPHell, so lets use this time to pay back the minnows of Scottish football who live out of our pockets, and watch them squirm as their Chairmen field calls from worried bank managers on a more regular basis.

Like I said before, we have ONE thing that no other team in the country has. A loyal and faithful support that can be matched by no other.

It's time to use it to our advantage!

[Araminta Moonbeam QC]

I obviously don't know what Hughie Green's plan is. However, I'll hazard a guess. My guess is that his plan is to make a quick buck before riding the fcuk out of town, leaving Rangers just like Portsmouth - fcuked not once, but twice.

Time will tell if I was right.

Its the only plan in town. He's attempting to pull a Craig Whyte style milking of the club. Shame that Minty and Whyte stacked up a legacy far more toxic than anything at Pompey. Once they see the cesspool that is the books, they'll know the baw is up the slates.

[Drooper]

How can anyone genuinely believe that this Green character is anything other than an asset stripper. The level of collective delusion among Rangers supporters is staggering.

Edited May 13, 2012 by Drooper

[Araminta Moonbeam QC]

I'd like to formally open the P & B sweepstake - How long will it take preferred kidder Hughie Green to bail out?

I'll take 1 week.

[WaffenThinMint]

Currants now getting uppity after they think they're saved

Splendid! Nothing like a little reminder that they are still the same arrogant vermin they ever were. Will make Wednesday all the more hilarious!

[stonedsailor]

Currants now getting uppity after they think they're saved

Everyone copy and paste this into an email and link to it then send it to the chairman of your clubs before they vote on Newco rules on the 30th of this month and before they end up having to vote on whether or not to allow a newco into the SPL. Don't forget to include the part about your season ticket purchase being dependent on no newco Rangers in the SPL.

Now that it looks highly likely we will be competing in the SPHell as Rangers FC next season, are the plans still afoot to boycott these clubs who laid the boot into us when we lay on the street like a wounded animal?

As I said before, I was confident we would rise again, no matter how or where. And we should NEVER forget these c***s who fed on our carcass for the past few weeks with their blatant attempts to hold our heads under the water. Well folks, it looks like we've raised our heads from the water now, and after we've drawn breath, and breathed fresh life into our old club, we must sit down and take stock of all who took advantage of the wounded animal that was Rangers Football Club.

Clubs like Dundee United, Kilmarnock, Hibernian, and those others who had their wee kick, need to pay. Let's put them down where we've recently been, and let them see how football in this country is without the Rangers, and more importantly, the fans of our great club.

We should be encouraging the club to refuse away ticket allocations - If we don't sign this part of the Season Ticket Form, then that's probably what will happen.

We should NOT purchase tickets for away games.

We should refuse our invitation to take part in the SFA's Scottish Cup.

Our team will be seriously weakened for the next 2 or 3 years, with only an outside chance of winning the SPHell, so lets use this time to pay back the minnows of Scottish football who live out of our pockets, and watch them squirm as their Chairmen field calls from worried bank managers on a more regular basis.

Like I said before, we have ONE thing that no other team in the country has. A loyal and faithful support that can be matched by no other.

It's time to use it to our advantage!

[p&b is a disgrace]

I'd like to formally open the P & B sweepstake - How long will it take preferred kidder Hughie Green to bail out?

I'll take 1 week.

Tuesday?

[Ric]

Ah, Rangers Media, you never let me down...

http://forum.rangersmedia.co.uk/index.php?showtopic=220073

I genuinely hope they do boycott every away game, it would make attending our games with them all the more palatable (and cheaper to steward) it would hopefully demonstrate to our chairmen that we should never have a situation where we build our entire finances round the funding that is associated with one team.