Big Rangers Administration/Liquidation Thread - All chat here!

[dee eff cee]

After listening to Sportsound today I felt there was a change in attitude towards Rangers due to the Tribunal Report. Wee Robbo came out against a Newco staying in the SPL. He is the first pundit that I am aware of who has said No to Newco. Alan Preston also said the report had made him reconsider his thoughts as did Billy Dodds although both still muttered Rangers have to stay but nowhere near as vociferously as they had done in the past.

Chico was as usual peddling his pish and defending everyone who was ever employed by Rangers before and during Whyte's reign. But Traynor and English are being more outspoken about a Newco starting at the bottom.

The wind of change has started. At long last.

Too good to miss. Is this our Berlin Wall or Tianammen Square moment?

Perhaps we could ask them to come over to Hampden to lead a massed diddy team singalong celebration when The End comes?

[Granny Danger]

More like the fly by Knights

Can't wait for the next bunch of chancers to come out of the woodwork

Funny you should mention that.

From: The Consortium known as the known as the P&B Knights Consortium (the Consortium)

To: Mr Paul Clark and Mr David Whitehouse The Administrators of The Rangers Football Club plc – In Administration Haudit and Daudit Limited 43-45 Portman Square London W1H 6LY

12 May 2012 – about chucking out time

Dear Sirs

Offer Letter - SUBJECT TO CONTRACT

The Rangers Football Club plc – In Administration (the Company)

We are writing to make an offer, subject to contract, by a consortium headed Granny Danger, known as the P&B Consortium (the Consortium) such offer to be subject to legal and financial due diligence, to purchase the shareholding of the Company and the business and assets of the Company (the Shareholding and Business and Assets).

1 PRICE

1.1 Subject to the matters set out below, we are prepared to purchase free from all liens, charges, equities and encumbrances such right, title and interest as the Company has in the Shareholding and Business and Assets, and in Ibrox Stadium (to be renamed the ‘Big Hoose’) and Murray Park (to be renamed the ‘Big Taining Place’) (together the Premises) for a consideration of:

1.1.1 £5,000 (subject to paragraph 1.3 below);

1.1.2 the discharge of the debentures for £8,000,000; (only kidding)

1.1.3 on Rangers Football Club successfully qualifying for the group stages of the Martian Inter-galactic League competition to be held in seasons 2012/13 and/or 2013/14, an additional £500,000 (for the avoidance of doubt, the maximum amount payable under this paragraph 1.5 is £1,000,000); and

1.1.4 on Rangers Football Club successfully qualifying for the quarter final stages of either of the Tour de France or Eurovision Song Contest competition to be held in seasons 2012/13 or 2013/14, an additional £1,000,000 (for the avoidance of doubt, the maximum amount payable under this paragraph 1.6 is £1,000,000).

1.1.5 that’s yer lot.

1.3 A deposit of £2.50 shall be paid forthwith on confirmation that we have been granted preferred bidder status and on the entering into of a binding exclusivity agreement to our satisfaction providing exclusivity in accordance with paragraph 9 below. Such deposit will become a non-refundable on the satisfaction of all of the conditions to our offer and set out in this offer. Until such time, the deposit shall be entirely refundable on notice from us in writing to you and until the deposit becomes non-refundable, it must be held in Haudit & Daudit’s client account, on trust for us. On successful completion of the purchase of the assets by us pursuant to this offer, the deposit will be deemed to be a part payment of the amount referred to in paragraph 1.1.1 above.

2 PAYMENT

2.1 The total consideration will be paid in full on completion following the sale and purchase of the Shareholding and Business and Assets, and Premises.

3 ASSETS BEING ACQUIRED

3.1 The Premises;

3.2 The SPL and SFA Shares;

3.3 The Player Registrations;

3.4 The goodwill of the Company relating to the Business including the right to use the name "Rangers Football Club"; - goodwill aye right

3.5 All intellectual property rights, licenses and trademarks of the Company relating to or used in the Business; - intellectual and Rangers – good yin

3.6 Any monies owing to the Company including football monies, which we understand to be circa £3,500,000, however, the running losses of the business through the administration period and the administrators' fees and expenses will be deducted from this amount;

3.7 All and any other assets of the Company;

3.8 Shergar;

3.9 The elixir of life.

4 EMPLOYEES

We shall only take over responsibility for those employees which are employed in the Business as at the date of actual completion, except the groundkeepers assistant who, we have been reliably informed, is a Tim.

5 ACCESS TO RECORDS

We want Craig Whyte’s record collection.

7 CHARGES/SECURITIES

The existing charges or securities registered against the Shareholding and Business and Assets and Premises will be released in full on completion of the sale and purchase.

8 TERMS AND CONDITIONS

Our offer is made subject to the following:

8.1 that a CVA is issued to creditors within 2 weeks of the date of this offer in a form acceptable to us;

8.2 that a CVA is agreed by the requisite majority of creditors and the period for challenge of the CVA expires with no challenge being made;

8.3 that Mike McCurry is brought out of retirement and referees all future rangers matches, including when he’s dead.

8.4 that Ticketus can f**k off;

8.5 that this offer is made under Sharia law and jurisdiction is within the Sharia Courts.

9 EXCLUSIVITY

The Company and the Administrators will agree not to enter into any contractual negotiations with any other party until such date is called for the creditors meeting to approve the CVA.

10 FUNDING

We confirm that we have funding in place to finance this offer and confirmation of the availability of this funding will be provided by Monopoly Wealth on 12 Never 2012.

11 COSTS AND VAT

Each party will be responsible for its own costs and expenses in connection with the matters contemplated in this offer. We assume that this will be a transfer of a going concern and that no VAT is chargeable.

12 CONFIDENTIALITY

Don’t tell anybody. Shhhhhh.

13 NO INTENTION TO CREATE LEGAL RELATIONS

I don’t want relations with you but will consider them with Bill Miller’s wife.

Yours faithfully

Granny

[WeeHectorPar]

I imagine being a Rangers fan is a lot like being locked in Joseph Fritzl's basement.

Every time you see a glimmer of light, you end up getting fucked.

And every time the rebirth of the club is announced it ends up still-born.

[Jussy]

The Blue Chancers (or Dingwall, not sure) are hitting back (lifted from RM):

Rangers Supporters (@rangersfctrust)

Posted Saturday 12th May 2012 from Twitlonger

Press Release Blue Knights

-Following more disingenous spin on the Value of Blue Knights Bid we clarify the following : Payable on completion of CVA (around end July) we will pay £5.5m net net net into the creditors pot. On acceptance as preferred bidder, we take over all costs incurred. These are estimated at £3m per month so to end of july losses are £6m. The club are due payment of around £2.4m, from football debtors, so the cash shortfall will be £3.6m. Blue Knights will pay this.

Therefore, on exiting CVA end July the total cash out, paid by the B K investors is £5.5m plus £3.6m = £9.1m.

There will be substantially more cash required from the investors going forward from this date to ensure all costs and losses are funded.

Im sure all honest people can imagine how furious the BK investors were when they read the recent comments by Mr Whitehead attempting to confuse by focussing on the figure £2.5m.

The total amount we believe is needed to fund RFC, including the £9.1m by end June, is around £20m. Any transfer monies in would reduce this, but we may need to make some player purchases too.

Furthermore, we ask Mr Whitehouse why our current bid was considered in the right 'ball park' in a conversation between Mr Kennedy and Mr Clark on saturday 28th Apr.

We would also ask why we were told last thursday morning that given our advanced stage of due diligence, we were likely to be given preferred bidder status.

In fact friday morning 11th May, there were exchanges of contracts for interim funding between our lawyers and ff and Phelps. Clearly our bid was enough then, until a higher bid was recieved and firmed up at the eleventh hour.

We would like to add that should a higher bidder be given preferred bidder status, and such a person or persons are fit and proper and robust financially with high liklihood of completing the deal, all Rangers men women and children should support this if it is considered this is in the best interests of the club.

The Blue Knights objective is not to own Rangers. It is to save Rangers.

[WaffenThinMint]

After listening to Sportsound today I felt there was a change in attitude towards Rangers due to the Tribunal Report. Wee Robbo came out against a Newco staying in the SPL. He is the first pundit that I am aware of who has said No to Newco. Alan Preston also said the report had made him reconsider his thoughts as did Billy Dodds although both still muttered Rangers have to stay but nowhere near as vociferously as they had done in the past.

Chico was as usual peddling his pish and defending everyone who was ever employed by Rangers before and during Whyte's reign. But Traynor and English are being more outspoken about a Newco starting at the bottom.

The wind of change has started. At long last.

My guess is because they know come Wednesday (assuming Rangers still exist by then), there's another kicking to come that will leave Rangers at the twitching carcass stage at best, and after the damning release on Friday there's not going to be many left in Scotland, even amongst the orcs, that could blame them, now they know it was their "heroes" that were the villains of the piece.

What remaining fantasy there's ever been about a future for Rangers has now evaporated.

[pozbaird]

Looking at the Blue Knights offer, my mind drifts to Brian Kennedy's comment that having rejected their offer, Haudit and Daudit better pull a rabbit out of the hat, or they would have blood on their hands. To thnk that this was their best, final, final, definitely final offer too. How shit must their earlier bids have been?

My offer of two penny chews and a packet of Hubba Bubba had more substance. Mind you, it was conditional on future income from progressing to the latter stages of the Ramsdens Cup.

[stonedsailor]

Funny you should mention that.

I hate to be picky but did we not mention some ginger bottles? We don't get glass IRN BRU ones up out way but I've been collecting cans and I can seell them far about 1p each at the scrappy's I think.

[ditots]

The big question has to be will this thread reach 1000 pages through the night?

[Johnstoun]

The Blue Chancers (or Dingwall, not sure) are hitting back (lifted from RM):

If they intend to put in £20m why isn't their bidquantum £20m?

They inlcuded moneys owed to the club in their bid, I presume season ticket sales and player sales will make up the rest of their quantum?

Why have they budgeted for player purchases yet allowed £0 for a CVA?

[Araminta Moonbeam QC]

If they intend to put in £20m why isn't their bidquantum £20m?

They inlcuded moneys owed to the club in their bid, I presume season ticket sales and player sales will make up the rest of their quantum?

Why have they budgeted for player purchases yet allowed £0 for a CVA?

I assume you are seeking an answer more complex than 'because they're a bunch of bloody chancers'?

It looks more like a plan for a sanction and debt-free NewCo to me.

[Drooper]

Any Rangers fan with a shred of dignity would now concede that the best they can hope for and expect is that they will be applying to enter the 3rd division next season. By Christ, if it were my club, that would be my position.

Put aside the arrogance, bluster, and delusion, and open your eyes. You might just earn a wee tiny bit of respect.

[Araminta Moonbeam QC]

Any chance of starting a petition to get the Monte Carlo maestro Mr C Whyte a knighthood

I've already downloaded the forms to nominate him.

[Musketeer Gripweed]

Just thinking about it for the first time, Rangers are now worth less on the open market than Tore Andre Flo was around 10 years ago.

[WeeHectorPar]

By not paying tax Rangers have in effect spent OUR money on 20 years of rubbish in Europe.

Money which, if they had paid tax, would have been spent by the government on 20 years of rubbish in Europe.

[Gaz FFC]

The big question has to be will this thread reach 1000 pages through the night?

25 pages X 25 posts that is 625 posts, doubtful TBH

[Jussy]

I assume you are seeking an answer more complex than 'because they're a bunch of bloody chancers'?

It looks more like a plan for a sanction and debt-free NewCo to me.

Yeah, it sound exactly like a Miller type plan. Also, the closing line on saving, not own rangers, made me a bit. At the risk of sounding like Jim White, if that was really the case then why wouldn't they be prepared to team up with other bidders to get something through? 'Cause they're a bunch of businessmen and chancers who saw the opportunity to make a fast buck, that's why.

[Gaz FFC]

Any Rangers fan with a shred of dignity would now concede that the best they can hope for and expect is that they will be applying to enter the 3rd division next season. By Christ, if it were my club, that would be my position.

Put aside the arrogance, bluster, and delusion, and open your eyes. You might just earn a wee tiny bit of respect.

The stupidity of the situation is with every passing day they are running out of time to be a fully functioning newco for August 2012, shame.

We have 11 weeks until August as of Tuesday, tick tock

Edited May 12, 2012 by Gaz FFC

[Huistrinho]

Any Rangers fan with a shred of dignity would now concede that the best they can hope for and expect is that they will be applying to enter the 3rd division next season. By Christ, if it were my club, that would be my position.

Put aside the arrogance, bluster, and delusion, and open your eyes. You might just earn a wee tiny bit of respect.

I don't personally know a single Rangers fan who thinks Rangers should be readmitted to the SPL. Even on the message boards a large number think Division 3 is the correct route to go. Most of this re-admitance talk is coming from a) the media, b) potential buyers, and c) other SPL chairmen.

[Johnstoun]

Any Rangers fan with a shred of dignity would now concede that the best they can hope for and expect is that they will be applying to enter the 3rd division next season. By Christ, if it were my club, that would be my position.

Put aside the arrogance, bluster, and delusion, and open your eyes. You might just earn a wee tiny bit of respect.

And it'll be a newco masquerading as Rangers, likely led by a group every bit as crooked as the previous incumbents.

[dee eff cee]

The appeal to the Tribunal should be interesting.

Has there been any sign of remorse or contrition? Er, no.

Has any new evidence come to light that could help Rangers cause? Er, no.

Has the club behaved in a responsible manner since the punishments were announced? Er, no.

I think there is a good chance to SFA may up the ante following Sally and Craig's response. Fingers crossed.