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The official "Takeover Completed" thread


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That doesn't mean waive the debt entirely though .. or does it?

There is room for confusion here, Whyte has either cleared the debt, transferred the debt or postponed the debt ... which is it ??

The debt has been transferred from Rangers to Wavetower (minus the 4 million loan detailed earlier in the negotiations) and will be repaid to Lloyds by Wavetower via whatever arrangement they have agreed together. Rangers will have no liability for this debt.

I would expect Wavetower to clear the Lloyds debt very quickly, or else there would be no reason for lloyds to have been so keen: they want out.

Again, it is the "waive" condition on the transfer of the debt that is important. It doesn't matter if Wavetower just obtain finance elsewhere to pay lloyds; the debt cannot come back to the club.

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So, in summary (admittedly a long-winded one) we appear to have three different camps in this thread: Camp 1: Pro-Whyte Key arguments in favour: 1 - Get Lloyds largely out of Ranger's decision making

Lol maybe an extreme but honestly eeryome hand on hearts where do you see us In five years?

If rangers appeal they will end up docking leauge points. The dark cloud is coming and it's about to pish all over ibrox and when the rain evaporates we will have a brand new 24 hour tescos.

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As I have picked this up , Wavetower were set up by to handle buying the Gers. It is owned by Whtye with the guy he appointed to the our board a director in Wavetower. In the statement from the stock exchange where it said that Wavetower had bought Murrays' shares for a £1 it also said they had taken on the debt from Lloyds with an obligation to clear this debt. The £1 was in part a good will gesture from Murray but also the money that he would have got (£5 - £6 million) is being used to pay the £2.8 million tax bill that appeared with the rest of that money bieng added straight to the fund for players.

The independant committee with AJ, Bain, Grieg, Mclellend and I forget the other guy are concerned about the HRMC tax case if we lose it. They don't know how Whyte will cover any loss but how the hell were they going to cover any cost? This was their major concern hence the statement.

I am no financial whiz but this is what I think I have picked up from following this thread since November and what guys ( you know who you are )with more knowledge and sources (notice I said knowledge and not wisdom) than I (I have none) have posted.

I know there are questions that need answered it and may go against the grain but can we not be positive for at least 48 hrs and enjoy this support the team in there 3 massive games, send of our legend of a manager in the style he deserves, welcome our legend of an ex player on his new post as the Main Man and as someone once said KEEP BELIEVING and I for one do believe the future will be Blue & Whyte. WATP :21:

Good post, I'm going to let the tarriers worry for a while. (tu)

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Did Bain say anything publicly?

AJ is making quotes, and Bain is being included in this " group " against whyte.

Bain was part on the Independent Committee who issued the statement criticising the Whyte takeover & questioning the funds & where they were coming from.

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Craig Whyte has described attending Ibrox for the first time as Rangers owner on Saturday as 'a great day'.

The businessman completed his £52.5m takeover of Rangers on Friday after more than six months of negotiations.

"It's a great day; very exciting. The main priority is to hopefully win the league," Whyte told BBC Scotland.

"We want to take the club forward and I think we have some very exciting times ahead."

Whyte was arriving to watch Rangers' Scottish Premier League match at home against Hearts, which the Ibrox side went on to win 4-0.

The 40-year-old opted to walk the last 100m to the main door of the stadium, as fans cheered and applauded.

Whyte has pledged to give Ally McCoist, who will become the team manager at the end of the season, £25m over five years to strengthen his playing squad.

When asked if he would be discussing budgets with Walter Smith's successor, Whyte said: "Perhaps not today, but obviously it's a conversation we're going to have."

The Stock Exchange announced late on Friday that Whyte had taken ownership of Sir David Murray's majority stake for just £1 via the company Wavetower.

However, the whole package of money for servicing the club's debt and for providing fresh capital comes to over £50m.

Despite the transaction going through, the independent takeover committee on the Rangers board again voiced concerns.

The committee, which included the outgoing chairman Alastair Johnston, expressed doubts that Whyte has sufficient funds to meet the club's financial needs - and in particular to pay any forthcoming HMRC tax bill.

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I must say, I think it's great that he did walk the last 100m through the Rangers support before entering Ibrox as owner for the first time.

The future is bright!

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I must say, I think it's great that he did walk the last 100m through the Rangers support before entering Ibrox as owner for the first time.

The future is bright!

He is certainly walking the walk so far. All his PR/advice etc. has been promising to date.

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He is certainly walking the walk so far. All his PR/advice etc. has been promising to date.

It's certainly been very well spun but it may well turn out to be all spin and no substance.

It's all been a bit of the Emperors new clothes so far.

Our manager was given several opportunities in the post match Sky interview to give him a ringing endorsement but quite pointedly declined to so.

May have to wait just over a week or so to hear Walter's true feelings on the matter.

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It's certainly been very well spun but it may well turn out to be all spin and no substance.

It's all been a bit of the Emperors new clothes so far.

Our manager was given several opportunities in the post match Sky interview to give him a ringing endorsement but quite pointedly declined to so.

May have to wait just over a week or so to hear Walter's true feelings on the matter.

Walters not interested one bit bout the takeover, he only cares about utd and killie. After that it's not his problem. I also sure he's on record as saying he would've preferred the takeover to happen a wk on Monday at the earliest

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Walters not interested one bit bout the takeover, he only cares about utd and killie. After that it's not his problem. I also sure he's on record as saying he would've preferred the takeover to happen a wk on Monday at the earliest

Well you won't have to wait too long to find out. Walter cares very much about the takeover.

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Well you won't have to wait too long to find out. Walter cares very much about the takeover.

U may be privvy to some inside into but reading his body language and listening to his tone of speech when he's interviewed he sounds as though he's not interested. The spl is all he's focused on at this minute in time. This is the way I read it, feel free to enlighten me though (tu)

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