bede 19 Posted May 13, 2012 Share Posted May 13, 2012 http://www.rangers.co.uk/news/football-news/article/2770752 Quote Link to post Share on other sites More sharing options...
bede 19 Posted May 13, 2012 Author Share Posted May 13, 2012 Glasgow Rangers have a new official owner! Quote Link to post Share on other sites More sharing options...
mclovin9091 1,388 Posted May 13, 2012 Share Posted May 13, 2012 Survival Sunday it is. Quote Link to post Share on other sites More sharing options...
JRodgA2k8 542 Posted May 13, 2012 Share Posted May 13, 2012 DUFF and Phelps, the administrators of Rangers Football Club, issued the following statement today.David Whitehouse, joint administrator, said: "We are very pleased to announce that we have accepted an offer from a consortium headed by Mr Charles Green for the purchase of Rangers Football Club."Mr Green has secured, via a substantial financial commitment, a period of exclusivity to complete the purchase of the Club and this is expected to be finalised at a creditors' meeting on June 6."The structure and quantum of the offer from Mr Green is such that it is acceptable to us as administrators and, having been in discussions with major creditors throughout the process, we believe this presents the best prospect of financial recovery for creditors."Mr Green, through a corporate vehicle, has entered into a binding commitment to inject funds into the Rangers Football Club plc so that the administrators can propose a Company Voluntary Arrangement which, if approved by creditors, will result in their claims being compromised for specific amounts and the company exiting administration free of the historic debt and with new owners. Work on issuing a CVA proposal has already started and will proceed with utmost urgency."If the creditors do not approve the Company Voluntary Arrangement, the agreement obliges Charles Green's purchasing vehicle to acquire the business and assets of the Club on agreed terms, through a newco structure. It is Mr Green's strong preference to achieve a CVA."We would like to thank Rangers supporters for their patience as a purchaser for the Club has been found and hope they will now support a bid that has the capability to take the Club forward."We would also like to thank the professionalism and dedication all the staff at Rangers have shown throughout the sale process. Furthermore, we thank again the Rangers players who made a major financial sacrifice to ensure the Club could continue to function."Charles Green commented: "I am delighted our proposal to purchase Rangers has been accepted and we are working night and day to finalise matters."This is a great football club with a tremendous history and we will preserve that while building a solid platform for the future."Rangers supporters have every right to believe their Club should be a success on and off the pitch and that is exactly what we will strive to achieve."At all times we will make decisions that are in the best interests of the Club. Not every decision at a club can be popular but I can tell every Rangers fan now that whatever decision is taken they will always be told the truth."We will do everything in our power to achieve a CVA and we already have a detailed written commitment from Mr Craig Whyte for the transfer of his shareholding."I look forward to working with everyone at Rangers, staff, players and supporters, in building a better future. It's what this great Club deserves." Quote Link to post Share on other sites More sharing options...
paisleyroad 894 Posted May 13, 2012 Share Posted May 13, 2012 PB it is then . . Quote Link to post Share on other sites More sharing options...
pcbear 10,913 Posted May 13, 2012 Share Posted May 13, 2012 PB it is then . .Looks like it. Quote Link to post Share on other sites More sharing options...
JRodgA2k8 542 Posted May 13, 2012 Share Posted May 13, 2012 Can only be completed as a sale at the creditors meeting so June 6th is the date lads. Quote Link to post Share on other sites More sharing options...
bluesbro1976 162 Posted May 13, 2012 Share Posted May 13, 2012 The deal has been signed, ink still wet. They have a legally binding contract that if he does want to pull out will cost him so much its pointless. This is it lads, this is the start of the recovery. Quote Link to post Share on other sites More sharing options...
ScottBF2 3,540 Posted May 13, 2012 Share Posted May 13, 2012 Commemorative Green top for next season then?Naw?Ok. Quote Link to post Share on other sites More sharing options...
Strayk9 3 Posted May 13, 2012 Share Posted May 13, 2012 Giggedy!! Quote Link to post Share on other sites More sharing options...
Marco Negri's Beard 1,423 Posted May 13, 2012 Share Posted May 13, 2012 looks to me like he's just preferred bidder. Anyone care to clarify? Quote Link to post Share on other sites More sharing options...
JRodgA2k8 542 Posted May 13, 2012 Share Posted May 13, 2012 looks to me like he's just preferred bidder. Anyone care to clarify?PB exclusivity period at the moment, purchase will be confirmed at the creditors meeting on June 6th i.e the earliest time it can be confirmed. Quote Link to post Share on other sites More sharing options...
bede 19 Posted May 13, 2012 Author Share Posted May 13, 2012 PB it is then . .Not PB mate, he has signed, it takes a few days till it becomes legal - normal business. Quit the negativity! Quote Link to post Share on other sites More sharing options...
bede 19 Posted May 13, 2012 Author Share Posted May 13, 2012 looks to me like he's just preferred bidder. Anyone care to clarify?No he is set to buy, the fact it doesn't come through until June 6th is purely legal rules, would happen buying any company. Quote Link to post Share on other sites More sharing options...
paisleyroad 894 Posted May 13, 2012 Share Posted May 13, 2012 Not PB mate, he has signed, it takes a few days till it becomes legal - normal business. Quit the negativity!quit the negativity??? aye right pal good wan, i was just calling it as i seen it. Quote Link to post Share on other sites More sharing options...
rangersross 6,530 Posted May 13, 2012 Share Posted May 13, 2012 I was looking forward to hearing his plan explained and the rest of the consortium introduced - shame there isn't any coverage of the press conference. Quote Link to post Share on other sites More sharing options...
KeepBelieving1872 64 Posted May 13, 2012 Share Posted May 13, 2012 PB it is then . .Doesn't really sound like it to me.They talk about binding agreements and if a cva agreement can't be reached then a binding agreement to create a Newco.I am delighted tbh Quote Link to post Share on other sites More sharing options...
Smile 26,610 Posted May 13, 2012 Share Posted May 13, 2012 Said on sky not preferred bidder deal done. Quote Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted May 13, 2012 Share Posted May 13, 2012 Quantum FC Quote Link to post Share on other sites More sharing options...
JRodgA2k8 542 Posted May 13, 2012 Share Posted May 13, 2012 I was looking forward to hearing his plan explained and the rest of the consortium introduced - shame there isn't any coverage of the press conference.We'll probably hear more from tomorrow mate Quote Link to post Share on other sites More sharing options...
offminorthreat 1,463 Posted May 13, 2012 Share Posted May 13, 2012 :crabflute: Quote Link to post Share on other sites More sharing options...
chris81 61 Posted May 13, 2012 Share Posted May 13, 2012 Said on sky not preferred bidder deal done.Yip, done deal. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 13, 2012 Share Posted May 13, 2012 scratch that. Quote Link to post Share on other sites More sharing options...
paisleyroad 894 Posted May 13, 2012 Share Posted May 13, 2012 Doesn't really sound like it to me.They talk about binding agreements and if a cva agreement can't be reached then a binding agreement to create a Newco.I am delighted tbhyes you are correct pal just said on SKY there "This is not Prefered Bidder status, a deal has been done to buy the club" Quote Link to post Share on other sites More sharing options...
JimmyCR1 1,502 Posted May 13, 2012 Share Posted May 13, 2012 Not getting excited, will just wait and see how this pans out, if he saves our club then great Quote Link to post Share on other sites More sharing options...
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