Big Rangers Administration/Liquidation Thread - All chat here!

[Jim McLean's Ghost]

^ Backbone.

Scratching around for SFA votes.

now where is that "phree money" gif...

[madwullie]

Right, as official owner of Rangers FC, Kyle Lafferty is now up for auction over the next 30 minutes.

Come on now ladies and gentlemen, what am I bid for this versatile actor, renowned for his roles as a cheating swine and pretendy striker. Would grace any pitch (generally rolling around clutching his face).

I'm considering shaving my pubes later so ill open the bidding with half a handful of my short and curlies

[itzdrk]

[HibeeJibee]

Why dont the SFA just take over the league system and restructure?

... because the last thing any of the clubs would want is control over their destinies being vested in the 7-strong SFA Board, not themselves. Especially when (in direct terms) they now only appoint 1 of the 7 Board members and form part-electorate for 2 more.

It's very much the nuclear option, for clubs and for SFA.

Also lets be careful what we wish for... SFA want 10-team SPL.

Edited May 14, 2012 by HibeeJibee

[Phantom Bud]

Latest from Rangers official website:

MR CHARLES Green, who is leading a consortium to purchase Rangers Football Club, issued the following statement today:

"Although I have spent many years in and around football, nothing could have prepared me for the level of passion and commitment I saw over the last few days in Glasgow and at Perth by all those with Rangers at heart. It was heart-warming to see players, supporters and staff all make clear to me how much they care about the Club.

"I hope the consortium I lead can repay that commitment and we are now pressing on with the job of completing the sale of the Club.

"I met fans' representatives after the match on Sunday (I'll take that result any day!) and quite rightly they had plenty of questions for me. They made clear that because of what has happened at the Club, I will have to earn their trust and that is exactly how it should be.

"As I said yesterday we are fully committed to trying to achieve a Company Voluntary Arrangement that will enable the Club to emerge from administration. That is our priority but it is in the gift of creditors. If that cannot be achieved we will have to pursue the alternative route of a newco but that would be structured in such a way the Club would not lose its history. But that is not the way we want to go.

"Quite rightly, supporters and the media have raised the issue of the identity of those involved in the consortium. The fundamental reason I cannot do this at this time is that some investors would like to wait until a CVA proposal is advanced or agreed before going public. That is their choice.

"What I can say to supporters is that there is a broad church of investors, from families in Singapore and India to individuals in the UK involved. They are good people who are united in their belief that a club such as Rangers can, should and will have a strong future.

"The identities of those involved will be revealed as we pursue the CVA and know what the outcome of that will be. I can assure supporters and the football authorities that is what is going to happen so everyone will know where the money is coming from.

"I am also hoping to meet the SPL and SFA soon to discuss the consortium and all matters regarding the Club.

"I would also like to say that as soon as the CVA process is further along the road I would like to meet supporters' representatives again to discuss progress."

[wunfellaff]

"Quite rightly, supporters and the media have raised the issue of the identity of those involved in the consortium. The fundamental reason I cannot do this at this time is that some investors would like to wait until a CVA proposal is advanced or agreed before going public. That is their choice.

So reading between the lines, no CVA and some of the 20 walk????

[Johnstoun]

I've been swithering about joining a consortium for ages.

At the end of the day, I think the Pie & Bovril boys have a deliverable outcome and want to add my untold wealth to the cumulative pot.

In this case, that untold wealth is actually $11.27 I recently found in the loose change drawer. I also have a Canadian $20 bill that I'll add to bring a truly international dimension to our bid.

I do think Mr Green's idea of clean cash is an excellent one, so I've asked Mrs Redz to put ours through the washing machine - she did say she couldn't see the money laundering option, so we settled for a quick tumble...

Your quantum is pretty impressive, but it is, of course, all about the deliverability of the quantum. I will therefore pledge 5 leftover christmas stamps to the p&b cause. I hope the image of the virgin mary on every stamp doesn't harm the integrity of the bid in the eyes of the bigoted traditional supporters.

[Jagsman411971]

... because the last thing any of the clubs would want is control over their destinies being vested in the 7-strong SFA Board, not themselves. Especially when (in direct terms) they now only appoint 1 of the 7 Board members and form part-electorate for 2 more.

It's very much the nuclear option, for clubs and for SFA.

Also lets be careful what we wish for... SFA want 10-team SPL.

I agree, but I do believe that right now, this has the makings of being possibly the most important in recent Scottish football history. If this opportunity is not seized, we WILL spend the next 25 years with the same product, arguments, compromises and standards as we have had for the last 25 years. If we want to change our game, then we have to act right now.

[statts1976uk]

Right, as official owner of Rangers FC, Kyle Lafferty is now up for auction over the next 30 minutes.

Come on now ladies and gentlemen, what am I bid for this versatile actor, renowned for his roles as a cheating swine and pretendy striker. Would grace any pitch (generally rolling around clutching his face).

I've just changed my son's nappy and it was a smelly one, I'll offer that as well as half a dozen used wet wipes!

[WaffenThinMint]

I've just changed my son's nappy and it was a smelly one, I'll offer that as well as half a dozen used wet wipes!

Your son's used nappy still smells better than Rangers accounts.

[HibeeJibee]

I agree, but I do believe that right now, this has the makings of being possibly the most important in recent Scottish football history. If this opportunity is not seized, we WILL spend the next 25 years with the same product, arguments, compromises and standards as we have had for the last 25 years. If we want to change our game, then we have to act right now.

I think it depends on how big any potential pile of cards is.

If Rangers exist via CVA then I don't think much is going to change and there isn't going to be much ammunition to fuel change, e.g 11-1 might be likely to stay . There won't be questions of SPL cowardice, clubs at war with elements of their fans, or a loss of legitimacy (being Newco approved scenario)... nor alternatively a huge financial draught in the game and the future being all about massive cost-cutting, and a battle primarily to survive (being Newco not approved > income reduces scenario).

It's also clear that there's no consensus among clubs on anything - league size an example... 10? 12? 14? Play-offs? No play-offs? Even if an environment comes into being which enables alterations - you need people to agree on what the alteration should be, to do it.

People say "seize the opportunity"... but it's not particularly clear, IMO, that anyone has identified [1] the detail of the opportunity and [2] who'd all agree to seize it.

Edited May 14, 2012 by HibeeJibee

[ebeneezer]

Nothing singed yet then. What's the betting no deal will be done tomorrow?

[p&b is a disgrace]

Right, as official owner of Rangers FC, Kyle Lafferty is now up for auction over the next 30 minutes.

Come on now ladies and gentlemen, what am I bid for this versatile actor, renowned for his roles as a cheating swine and pretendy striker. Would grace any pitch (generally rolling around clutching his face).

Would he perform in a double bridal with Lee?

[wunfellaff]

A few folk have posted the song ''Its the end of the world as we know it (and I feel fine)'' as a good call for when they peg it.

Going through old REM stuff afore they became 'too' wanky and I see it is from 'Document' (shredded perhaps?).

The next album I notice is called................'Green' and the first single was 'Orange Crush' , prophetic I hope!

Edited May 14, 2012 by wunfellaff

[Gaz FFC]

Because Lord Hodge decided that Ticketus didn't have priority over other creditors - so their claim goes in to the CVA pot like everyone else.

Link to a summary here:

http://www.scotland-...OTBALL-CLUB-PLC

Apparently Ticketus had a personal guarantees from Whyte. I hope they win their case in court and win every penny back from him.

Thanks for answering.

So for all you guys hate Whyte he removed Lloyds ruling your club and £17M of your debt by getting into bed with ticketus.

Now you will hardly pay any of that cash back. you'd be worse off if Whyte hadn't done this.

Also if Whyte hadn't came in who would've paid the £9M tax and other bills he didn't? I very much doubt SDM or Lloyds would've.

You would've been in administration far sooner and the administrators probably wouldn't have been so friendly and incompetent.

For all Whyte's faults, he seems to get overlooked for the useful bits.

[Phantom Bud]

So reading between the lines, no CVA and some of the 20 walk????

Do the 20 "individuals and families" even exist? Sounds like he's preparing the orcs

for no CVA, liquidation and a Bill Miller type "incubator" newco with that statement.

Edited May 14, 2012 by Phantom Bud

[wunfellaff]

Nothing singed yet then.

Plenty. After Bain had them shredded, they burnt the remains

[p&b is a disgrace]

Nothing singed yet then. What's the betting no deal will be done tomorrow?

Sung, I believe the word is sung.

[LiamDFC]

Your quantum is pretty impressive, but it is, of course, all about the deliverability of the quantum. I will therefore pledge 5 leftover christmas stamps to the p&b cause. I hope the image of the virgin mary on every stamp doesn't harm the integrity of the bid in the eyes of the bigoted traditional supporters.

I can confirm I have a further 50 Christmas Stamps for contribution to our ever evolving P&B consortium quantum.

The teddy bears definitely ken.

[ray_of_licht]

So reading between the lines, no CVA and some of the 20 walk????

There might be something in that. According to Prof. David Hillier, Green is running a search fund which is ".... an investment vehicle funded by investors to identify a good opportunity. Will delegate running of club to someone else. Search funds normally want money back within 3-5 years and a return via exit. This means value creation for RFC in that time if successful." (@davidhillier)

3-5 years via CVA might make a return. 3-5 via newco probably won't.