The official "Takeover Completed" thread

[Jimfanciesthedude 24,556]

who says he hasn't?

Honestly the people on here that take great pleasure in having a go at the only person that has even shown remote interest in saving our club from years of hardship

you have to wonder what their true intentions are for these constant attacks on whyte

[spangles 7]

who says he hasn't?

Honestly the people on here that take great pleasure in having a go at the only person that has even shown remote interest in saving our club from years of hardship

you have to wonder what the true intentions are for whyte

Escrow accounts are held by a third party, as the bank Lloyds in this instance are an interested party, they are not a third party, simples.

PS fixed that for you.

[MosesMcNeil 1,664]

No I mean can.

I'm not at all clear what he does, is anybody?

I'm not at all clear what he does next, I doubt anybody does.

I can't offer an example of what exactly?

However done, a phrase if ever there was that should send a shiver down the spine.

I'm sorry - I'm too busy enjoying the establishment and being British right now to delve into a battle of semantics.

[Guardian 4,281]

One thing that is abundantly clear, the fans patience is running out.

We keep getting told the deal is all ready to go - but blah blah blah

Once the obstacle is removed, another one materialises.

They can string us along, but only for so long. If they want the season ticket money, they'd better sort this out quickly.

An ever growing number are now holding back on giving money to the present regime, and with every "delay" more people get disenchanted.

By the end of next week, nobody will have any faith in this happening.

[SteveJ 743]

Having been asked about Craig Whyte and his previous dealings, I decided to do a bit of digging myself and although I had done this before, many weeks ago, I am a tad unsure how to take the following announcement from 'Merchant Capital Ltd':

Launch of new fund

14 April 11

The Board of MHG is pleased to announce the launch of the Merchant Gemini Turnaround Fund (the “Fund”), a new corporate turnaround fund which is seeking to raise up to £50m. The Fund will be raised by Merchant Financial Funds ICC (“MFF”), an incorporate cell company domiciled in Jersey. MFF is owned as to 50% by MHG and 50% by Jordasic Investment Holdings Limited (“JIHL”), an investment management company based in Jersey. The boards of MFF and the Fund will comprise James Holmes, Chairman of MHG, and John Whittle and Michael McKean, who are based in the Channel Islands.

Merchant Capital Limited (“MCL”), a wholly owned subsidiary of MHG which specialises in corporate turnaround activities including providing turnaround funding and advice, has been appointed as the investment manager of MFF. MCL will receive an annual management fee equal to 2% of the funds under management in MFF and 20% of the annual net capital gain in the value of the fund after all costs.

MFF will establish an advisory board and has agreed to appoint Craig Whyte, the founder and chief executive of Liberty Capital, and David Roberts, CEO of Trimite Group. Messrs Whyte and Roberts are both respected turnaround specialists with over thirty successful transactions between them.

James Holmes said:

“This is a significant development in the strategy of the Group. The Merchant Gemini Turnaround Fund is a natural expansion of our existing corporate turnaround activities currently conducted through Merchant Turnaround plc and Merchant Corporate Recovery plc, which will in turn benefit from the Fund’s own projects. The combined experience of our advisory board will make a difference to the many companies that are struggling to secure finance from traditional sources. At the same time, we will be providing an excellent investment opportunity to investors prepared to take a longer-term view.”

David Roberts added:

“I am delighted to be working with Gemini and the Merchant House Group. I really think our combined experience will make a difference in these difficult times for so many companies whilst providing an excellent investment opportunity to investors prepared to benefit from a longer-term view.”

http://www.merchanthousegroup.com/recent-press/launch-of-new-fund

This might be a general fund that has been setup for various companies for the MC portfolio and Craig Whyte is on the advisory board without investing, but I doubt it. The worrying thing is the actual amount of the new fund - £50M - can someone remind me how much the deal for Rangers is worth?

Some people have a bad opinion of venture capitalists, most probably from Hollywood films, but a lot of businesses in the UK have had these guys in charge from time to time, during difficult times and they remain successfull to this day - the company I work for being one of them and they are now on their third VC.

The above report, however, has me slightly concerned. If this fund has nothing to do with the Rangers bid, then I am happy that our prospective new owner is held in such high esteem and it fills me with confidence that he can do what he is setting out to do, but what if this is the twist we do not know about?

There has been stalling during the talks and one of the stumbling blocks being reported in the media, is the lack of funds to take Rangers FC forward. There has never been a question on Whyte's intial kitty to buy Rangers, it was his ability to prove there would be a war chest available to the manager.

Would it be so bad if this new fund was for the purchase of Rangers FC? I think it would, but you will all have an opinion.

[simplythebestest 2,145]

One thing that is abundantly clear, the fans patience is running out.

We keep getting told the deal is all ready to go - but blah blah blah

Once the obstacle is removed, another one materialises.

They can string us along, but only for so long. If they want the season ticket money, they'd better sort this out quickly.

An ever growing number are now holding back on giving money to the present regime, and with every "delay" more people get disenchanted.

By the end of next week, nobody will have any faith in this happening.

I think any predictions about people losing faith is a bit wild. Every day you look in this thread and people keep saying "It'll be done on Monday, you'll see!"

And next week if it doesn't go ahead people will still be spinning yarns like "Whyte put the money into a holding account off the Cook Islands and Lloyds executive director told me over a drink that they are thinking of" blah blah..

I even believe season ticket sales won't be THAT badly affected.

This whole saga probably won't resolve itself soon, and until it does just keep enjoying the 'will it,' 'won't it' banter and discussing who you'd buy with the 30million pound war chest we're gonna get in 48 hours.

[Broxi 11,504]

This was the last straw to me, ive been very optimistic throughout the whole thing and was one of the only ones believing in it in the January period. It's been moved so many times I'm not getting my hopes up anymore. I'm still fairly confident it will happen but I'm not going to believe any more paper crap. Only when it's officially announced will I believe it.

[forlanssister 157]

I'm sorry - I'm too busy enjoying the establishment and being British right now to delve into a battle of semantics.

It's ok I'll wait till find enough time to formulate some answers.

[gunslinger 270]

who says he hasn't?

Honestly the people on here that take great pleasure in having a go at the only person that has even shown remote interest in saving our club from years of hardship

you have to wonder what their true intentions are for these constant attacks on whyte

cant see any reason to attack aj either when alk hes done is ask whyte to prove he has the cash. but that doesnt stop you.

[gunslinger 270]

i have to say if whyte doesnt come up with the cash next week i will be highly suspicious.

[Coplandbear11 1,087]

Nothing new then people?

[nvager 498]

Do not trust anyone and have no clue if or when this deal will be done. Simply have lost faith in all - both sides. The fans deserve much better.

[bluejeff 16]

That's twice it's reached the finish line and not crossed over, if it doesn't happen next week I seriously doubt it will happen at all - hope I'm wrong

[M-89 524]

Another 48 Hours!

[KingKirk 25,655]

http://www.newsoftheworld.co.uk/notw/nol_scottish/nol_scottish_sport/1287440/Craig-Whyte-ultimatum-Rangers-takeover.html

[H72 265]

The NOTW will know fuck all, just like the rest.

Yawn.

[Loan Ranger 48]

not registered for notw (shock)

can u paste it here?

[Escobar 13,676]

NOTW = utter shite.

[bluegecko 306]

can you copy and paste pls? Don't want to give them the trafic

[KingKirk 25,655]

CRAIG WHYTE will walk away from his Rangers takeover if it doesn't go through early this week.

The tycoon is furious at the stalling tactics used by Ibrox board members against his bid.

And the Motherwell-born investor has issued an ultimatum - either Gers accept his £55million buyout or he will pull the plug.

An insider close to the tense negotiations said: "Whyte is so angry at the whole thing taking so long that he is going to walk away.

"He has told parties involved if the deal isn't done by close of play on Tuesday, it's finished. Unless he sees real movement from Rangers when the stock market closes, he is pulling out.

"The wheels better be in motion come Tuesday, or he's killing the plan. It's crunch time. He's in deadline mode now.

"The waiting game is over for him. Rangers need to get their fingers out now."

As far as he's concerned there is no other bid on the table

A faction inside Ibrox has been opposed to Whyte's investment in the club from the get-go, our source confirmed. However, Whyte is reluctant to give up on his dream of owning the champions and breathing new life into the club.

Even boss-in-waiting Ally McCoist, 48, has admitted Gers will be "in big trouble" if the Whyte take-over doesn't go ahead.

McCoist, who has only four games left as Walter Smith's No 2, warned his players' wages bill is being slashed and he will have no money to spend on strengthening the squad.

He said: "If things stay the same I will have to cut quite severely."

Whyte and his co-bidder, London-based property developer Andrew Ellis, 42, have already set up the company which will take over the club.

Wavetower Limited was formed in Bristol last September, then switched its address to a firm of solicitors in London a month later when Ellis joined the board.

Whyte became a director in March along with a long-standing business partner, Philip Betts. With all the aspects of the deal in place, Whyte hopes to wrap up the deal when the London Stock Exchange reopens for business on Tuesday.

Our source said: "Whyte has lost patience with factions opposed to his investment. This has cost him around £750,000 of his own money to get where we are now."

The venture capitalist has had to leave a lot of his other international business interests for the last six months. Our insider added: "More than anything he feels sorry for the fans, who have had to put up with this protracted saga. Craig deeply regrets the situation they find themselves in, but it hasn't been from a lack of effort on his part."

Whyte met members of the board last Sunday for face-to-face talks at Murray Park after the Old Firm clash. He gave the board all the figures, went through the details of the deal, showed his investment plans and provided financial guarantees during a 5pm sit-down.

Whyte only took the meeting to go through everything again after news of a rival offer emerged from inside the boardroom last week.

It was claimed that director Paul Murray, 46, and South African-based Dave King, 55, were behind a last-ditch attempt to get Sir David Murray's shares.

Sir David doesn't want to leave Rangers in debt

However, no further details of this alleged bid have emerged. King is still mired in a decade-long court battle with the South African authorities over allegations of unpaid tax and his own five per cent stake in the club has been frozen by the courts.

Our source said: "Whyte knows there are people at Ibrox who'd be happy for him to walk away. But he doesn't want to let them win.

"As far as he's concerned there is no other bid on the table. Whatever else has been written or said, there is no other take-over deal at Ibrox.

"He has satisfied everybody that matters. Lloyds, Sir David Murray, and all the working capital, and the investment capital is in place. All the assurances have been given.

"But there are people who don't want the deal done. They are involved in stalling tactics. Some members of the independent committee at Rangers should take a close look at themselves."

Present owner Murray, 59, is believed to have backed Whyte's bid and wants an end to all the backroom infighting. He is desperate to help secure Rangers' financial future and sees Whyte as the only viable option.

A Murray insider said: "Sir David doesn't want to leave Rangers in debt, or while the acrimony and boardroom bickering continues.

"He wants to be able to say 'I left Rangers with no debts, this is my legacy to the fans.' He is worried anything tarnishes his reputation."

Last night Whyte refused to comment on his position regarding the Rangers take-over. A spokesman said: "Mr Whyte cannot comment on any aspect of the deal because of Stock Exchange rules.

"Having said that, it is no secret that he is very frustrated by all the delays. He is the only party in this long, drawn-out process, who has never put a deadline on getting it over the line. But no one's patience is limitless."

[hutchy14 4]

Can anyone explain in more detail? If Lloyds and Murray are supposedly giving the go ahead then how can anyone else step in? It's Murray's own shares he is selling!

[Goianegra 4,682]

Aye, we'll see.

[bluegecko 306]

can't blame him for getting pissed off, but the board can't prevent the sale so just get it done.

That said it is the NOTW

[Getstiffed 8,863]

Tranlsation of article in a sentence:

"Aw naw, the'r gettin' boat and we loot lit ar arse hiz fell oot wur go'nay boattle it"

[bombaybadboy08 15,660]

Source - A taxi driver.

News of the Wanks.