the goal machine 7,813 Posted October 28, 2009 Share Posted October 28, 2009 THE consortium planning to buy crisis club Rangers for £40million were last night warned: You won't get them on the cheap. Motoring tycoon Douglas Park and Ibrox directors Dave King and Paul Murray are poised to buy majority shareholder Sir David Murray's stake in the SPL champions. But last night a source close to the proposed deal said steel magnate Sir David, 58, would not be pressured into selling if he thought it was not in the best interests of the club. The insider said: "There's no way David Murray will let the club go at a knockdown price. "His main concern will always be, as he has stated before, that the club ends up in the right hands." Park, 59, has built a personal fortune of around £50million from his successful Park's of Hamilton motors and coaches chain. Park is a lifelong Gers fan and has been linked to moves for power at Ibrox before. With South African-based financial guru King, 53, and chartered accountant Paul Murray, 45, already on the board as non-executive directors, this could be his chance to seize control. King, who grew up in Glasgow's tough Castlemilk scheme, invested £20million in the club back in March 2000. Ex-Deutsche Bank executive Paul Murray - no relation to Sir David - won his place on the Gers board two years ago Rangers have estimated debts of £30million. But the club has assets such as the Murray Park training ground, Ibrox Stadium and star players like Allan McGregor, Madjid Bougherra, Steven Davis and Pedro Mendes. Our source added: "There are assets there. "And there are players who have attracted English Premiership interest in the past and who would do so again in the January transfer window." Amid informed speculation of a possible rival bid from Dubai-based British investors the King consortium's next moves will now be carefully scrutinised. Gers fans have raised fears for the future of their club since manager Walter Smith claimed it was being run by bankers last weekend. However HBOS chiefs denied those allegations in a statement on Monday night. Sir David put the club up for sale after stepping down as chairman in August. The bidders DAVE KING AGE: 53 BACKGROUND: Grew up in Castlemilk, Glasgow. He emigrated to South Africa in 1976 with just £10 but racked up a huge personal fortune as a tough financial consultant. Currently facing 322 criminal charges over alleged £180million unpaid tax bill. WEALTH: £200million to £300million. PAUL MURRAY AGE: 45 BACKGROUND: The chartered accountant has 18 years' experience in the private equity industry and worked for Deutsche Bank. He was made a non-executive director of Rangers in 2007 and advises in business development. Has also served on the club's youth development board. WEALTH: Unknown. DOUGLAS PARK AGE: 59 BACKGROUND: Founded the Park's of Hamilton coach and bus company in 1971 with just three vehicles. He is also head of Park's Motor Group and owns more than 20 car showrooms across Scotland, including luxury franchises such as BMW. WEALTH: £50million. http://www.thescottishsun.co.uk/scotsol/ho...s-on-cheap.html Link to post Share on other sites More sharing options...
NOLUWDC 1 Posted October 28, 2009 Share Posted October 28, 2009 Hopefully that puts an end to speculation who the consortium is then. Link to post Share on other sites More sharing options...
TexasGers 96 Posted October 28, 2009 Share Posted October 28, 2009 Interesting, for everyone at the club's sake, let's hope this is cleared up sooner rather than later and the club is put into the right hands. That way some semblance of normality can return to Ibrox. Link to post Share on other sites More sharing options...
Scott-RFC 308 Posted October 28, 2009 Share Posted October 28, 2009 I thought Hamilton played at Douglas Park? Link to post Share on other sites More sharing options...
GOAT 30,449 Posted October 28, 2009 Share Posted October 28, 2009 Isnt the sheepshaggers chairman wealthier than those three put together? Link to post Share on other sites More sharing options...
FlippinEck 3,736 Posted October 28, 2009 Share Posted October 28, 2009 I ll take the Dubai based investors?? Link to post Share on other sites More sharing options...
nvager 498 Posted October 28, 2009 Share Posted October 28, 2009 My guess is that the eventual buyer will surprise all of us. Link to post Share on other sites More sharing options...
cstamomusa 3,811 Posted October 28, 2009 Share Posted October 28, 2009 King seeks talks Exclusive by Darrell King DAVE KING is set to hold more talks with Rangers over a possible take-over as the clock ticks on the Ibrox club's perilous financial situation. As revealed in SportTimes yesterday the club's bankers, Lloyds, have implemented a drastic business plan which has been enforced to try and address the club's £30m debts. King is well aware of the massive implications for the club if a deal can't be struck. The bank - who have appointed Donald Muir on to the Rangers board to look after their interests - will effectively decide on any offers that come in for players during the January window, although no exact figure has been set for monies to be recouped at that time. But, as we outlined, the real damage will come in the summer with swingeing cuts to the squad and the possibility of several youth team players being asked to step up and replace star names who are sold. advertisementThere will be no money for new players, no new contracts and the current management team will not stay - it has been described by club sources as the doomsday' scenario. King's advisors have already made initial approaches, but SportTimes understands they have been left frustrated so far at the stance of the bank and the asking price. However, the South African is the leading contender to buy Rangers from Sir David Murray and is already working on his future plans for the club should he take control. Now, it remains to be seen if King - or any other interested parties - can step forward and strike a deal before the bank's business plan starts to hit hard. A business analyst today confirmed the statement Rangers released on their website last night effectively signalled that they are now talking to an interested party. It reads: "The Board of Directors of The Rangers Football Club plc is aware of the recent speculation and various comments in the media over the weekend. "The Club's board has been advised by its principal shareholder, Murray International Holdings Limited ("MIH"), that it is considering options regarding its shareholding in the Club and this may or may not lead to MIH disposing of some or all of its stake in the Club to a third party. "These considerations are still at an early stage and may or may not lead to any offer for the issued shares of the Club. "The directors of the Club will keep shareholders advised of key developments" Publication date 27/10/09 Copyright © 2009 Newsquest (Herald & Times) Limited. All Rights Reserved Terms of Use Link to post Share on other sites More sharing options...
TexasGers 96 Posted October 28, 2009 Share Posted October 28, 2009 There will be no money for new players, no new contracts and the current management team will not stay - it has been described by club sources as the doomsday' scenario. Hopefully it doesn't come to that Link to post Share on other sites More sharing options...
GOAT 30,449 Posted October 28, 2009 Share Posted October 28, 2009 an ibrox insider? my pal used to work as a cleaner in ibrox, does that not make him an insider? Honestly stop listening to the rhags who just exist to sensationalise everything. Link to post Share on other sites More sharing options...
mapleridgebear 0 Posted October 28, 2009 Share Posted October 28, 2009 Possible light at the end of a tunnel?? I just hope we are sold before January Link to post Share on other sites More sharing options...
johanhentze 14,311 Posted October 28, 2009 Share Posted October 28, 2009 We need this to happen soon! Link to post Share on other sites More sharing options...
cooper1989 0 Posted October 28, 2009 Share Posted October 28, 2009 imho.. These guys don't have enough money to buy and then subsidize our club. And how can King even be a player in this? I don't believe this 'consortium' has any chance. Nor do I want them to have one. Doesn't 'sound' right. Link to post Share on other sites More sharing options...
Gilesy 4 Posted October 28, 2009 Share Posted October 28, 2009 an ibrox insider? my pal used to work as a cleaner in ibrox, does that not make him an insider? Honestly stop listening to the rhags who just exist to sensationalise everything. Not havin a dig Goat, but who do we actually listen to when we need to find out info, if not the papers? The media? Or do we just wait till someone at Ibrox releases a press statement. It's frustratin for everyone, i think thats why we're all dangling, trying to find some light in any story that comes out, even tho most are shite. Oh to be a fly on the wall... Link to post Share on other sites More sharing options...
grahamteuchter 1 Posted October 28, 2009 Share Posted October 28, 2009 an ibrox insider? my pal used to work as a cleaner in ibrox, does that not make him an insider? Honestly stop listening to the rhags who just exist to sensationalise everything. Not havin a dig Goat, but who do we actually listen to when we need to find out info, if not the papers? The media? Or do we just wait till someone at Ibrox releases a press statement. It's frustratin for everyone, i think thats why we're all dangling, trying to find some light in any story that comes out, even tho most are shite. Oh to be a fly on the wall... Its a nervous time and at least knowing that people are interested in us can be make us feel a little more positive rather than be concerned of our club being stripped of assets and we end up a mid-table mess like before Link to post Share on other sites More sharing options...
bombaybadboy08 15,660 Posted October 28, 2009 Share Posted October 28, 2009 Dougie Park is worth more than £50 million IMO Link to post Share on other sites More sharing options...
RFC55 110,160 Posted October 28, 2009 Share Posted October 28, 2009 I dont really think these guys would have enough to ensure Rangers wouldnt have to sell any assests. Dave kings 200million would barely see him in charge of the club 2yrs. Donald park has a nice fortune for himself but its like how long £4 would last in a bookies. Link to post Share on other sites More sharing options...
SASAPAPAC5 0 Posted October 28, 2009 Share Posted October 28, 2009 i think this consortium will give 30 million to the bank and 10 million to murray and give the manager who ever it may be 5 million to spen on in january and what ever money he brings in to the club with player sales Link to post Share on other sites More sharing options...
MikeBlue 136 Posted October 28, 2009 Share Posted October 28, 2009 Realistically, all this consortium could be expected to achieve is to buy the club and clear the debt. That in itself would be a major step forward, but the club would still have to live within its means. They wouldn't be able to bring a big transfer pot and run the club at a major loss. Not necessarily a bad thing IMO Link to post Share on other sites More sharing options...
biotechnology 2 Posted October 28, 2009 Share Posted October 28, 2009 The Dubai based consortium sounds like they have more Mula, than Kings consortium. At least we have people with money wanting to save us Link to post Share on other sites More sharing options...
barcelonabear 23 Posted October 28, 2009 Share Posted October 28, 2009 Dougie Park is worth more than £50 million IMO Aye but he bottled taking over before when Murray offered him the club for 1p when the debts were higher. So is he really going to pull through this time? Link to post Share on other sites More sharing options...
stuartmccallsfall 4 Posted October 28, 2009 Share Posted October 28, 2009 Am I missing the point here? If the consortium buys Rangers, then that means we will be at base zero with no debt. Yous all seem to forget that the club has money coming in every single day, from shops, from gate reciepts, from TV rights, from the Champions League. Remember everyone, that the club has been mismanaged from the top, we make money, its how its spent is the problem. Link to post Share on other sites More sharing options...
docspiderman 1,260 Posted October 28, 2009 Share Posted October 28, 2009 Am I missing the point here? If the consortium buys Rangers, then that means we will be at base zero with no debt. Yous all seem to forget that the club has money coming in every single day, from shops, from gate reciepts, from TV rights, from the Champions League. Remember everyone, that the club has been mismanaged from the top, we make money, its how its spent is the problem. Very little from tv, gate receipts do not cover wages, a little over the year from JJB, less than anticipated or forecast from the Champions League. The bottom line is that the club has always spent more than it makes which has been the reason it is a serial loss making business kept afloat by loans, Murray underwriting the failed share issue, money being shifted around from other companies, short term deals. Getting rid of the debt will be important but there is no way the club will be able to run profitably and have the success and profile our fans demand without getting into debt again,directly or indirectly. The bottom club in the championship makes over 5 times more than the spl winners from tv revenue to put matters into perspective.Yes we have bigger crowds but far bigger daily/weekly outgoings which are out of step with the place we are restricted to in the overall football status. Link to post Share on other sites More sharing options...
Dietspam 733 Posted October 28, 2009 Share Posted October 28, 2009 an ibrox insider? my pal used to work as a cleaner in ibrox, does that not make him an insider? Honestly stop listening to the rhags who just exist to sensationalise everything. Without the media we wouldn't know a thing. Link to post Share on other sites More sharing options...
GOAT 30,449 Posted October 28, 2009 Share Posted October 28, 2009 noone mentioned the banks, noone mentioned consortiums, then all of a sudden smith says something in an interview and now we've had stories were going into administration, the banks are running us, were selling everybody, were being bought by this person and that person. I mean honestly, think about it... Even statements by Rangers and the bank itself say otherwise. Link to post Share on other sites More sharing options...
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