Saturday night press statement from Brian Kennedy -------------------------------------------------------------------------------- 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 Duff 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.