AJ the Board and the fabled Takeover

[spangles 7]

Much has been written and many dates given for the fabled takeover, my concern is more for the future without a new owner or new cash, as no bid has been made for the club, at least through official channels and they are the ones that count for my point, which is.....

What is stopping the chairman and the board making a statement on the current position, as no bid has been tendered no TOP rules would be broken, a statement that will give some idea of what the future direction of the club is without a new owner or new cash, or is it to near season ticket renewal time.

[Dennis 1,011]

Much has been written and many dates given for the fabled takeover, my concern is more for the future without a new owner or new cash, as no bid has been made for the club, at least through official channels and they are the ones that count for my point, which is.....

What is stopping the chairman and the board making a statement on the current position, as no bid has been tendered no TOP rules would be broken, a statement that will give some idea of what the future direction of the club is without a new owner or new cash, or is it to near season ticket renewal time.

I think we can safely say this will rumble on until all season tickets renewals are sent back in. I expect an announcement of nothing just before the Post man picks them up.

[TheBoyDave 123]

It has went very quiet on the takeover front recently it would be nice to know what is going on but perhaps no news will eventually turn out to be good news.Win the league and we should become a more attractive proposition for potential buyers.It would be a worry if no buyer can be found in the near future.

[wearethemighty 186]

Smoke and mirrors.

[caseyjones 3,009]

Dave has the situation under control. Just keep the ST money rolling in.

[stampyurie 203]

Have they announced the half year finanicals, just to c if the debts are down

[spangles 7]

Dave has the situation under control. Just keep the ST money rolling in.

Unfortunately the truth appears to be something rather different, we have a CEO who freely admits on live tv, that he has not the slightest idea what is happening in takeover land. We have a chairman in absentia, a board devoid of any spine, and a tiller with the ghostly hand of Murray still setting course.

We deserve and should demand answers as to why a non board member is still dictating policy and the board accept it without a murmur, even though that non board member is the club owner. If the board do not have the expertise to stand up to and challenge Murray for the greater benefit of the club, they should do the honorable thing...but that would require honorable men.

[Turnberry18 3,204]

I feel like the lone Rangers fan that believes that Craig Whyte will be investing in Rangers, and I wouldn't really blame any fan for doubting that he will. We'll see though.

[lgr1991 303]

I feel like the lone Rangers fan that believes that Craig Whyte will be investing in Rangers, and I wouldn't really blame any fan for doubting that he will. We'll see though.

I do believe he will, but i also think hes waiting on the outcome of the tax dispute, because even if MIH say they will take liability, Whyte would be fucking insane not to wait, hes made a fucking fortune, he knows what hes doing.

[nvager 498]

I hope there is a takeover. We really need to clear the debt and reload with players. Hate to say it, but I have lost all faith in this takeover. Time will tell, but its been dragging on forever now.

[Carsons Dog 9,878]

What happened to the due diligence?

Due fukin negligence more like

[Raghead 24]

I think it will happen if we lost the league

[Raghead 24]

So it won't b

[stuart54 218]

I feel like the lone Rangers fan that believes that Craig Whyte will be investing in Rangers, and I wouldn't really blame any fan for doubting that he will. We'll see though.

You're not alone mate.

If Craig Whyte wasnt interested anymore, I'm sure he would have called it off a while ago.

[spangles 7]

I do believe he will, but i also think hes waiting on the outcome of the tax dispute, because even if MIH say they will take liability, Whyte would be fucking insane not to wait, hes made a fucking fortune, he knows what hes doing.

The only financial evidence thrown up by even the simplest search into whytes financial nous, is debt and lots of it. His side kick ellis has already been shown up to be a man of straw, how he expected to buy the club with no money is anyone's guess.

Whyte hasn't a pot to piss in, or else he is the most successful and shrewdest business man in history, as he has managed to conceal this glittering gold lined money making career from the entire business world, I know what my money is on.

However if you can produce the slightest glimmer of hope or better still evidence of this glittering wealth (minus the 90k he owes One Stop Roofing), I shall eat my bunnet.

[Johnson 27]

According to the latest Takeover Panel listing, offers to take over Rangers are still on the board from RFC Holdings (Guernsey) Limited (Andrew Ellis) and Craig Whyte.

According to Guernsey's Register of Companies, Ellis's company will by now have been voluntarily struck off. See here (Scroll down to "Voluntary Strike off").

And Whyte's holdings company, Tixway UK, is also on the verge of being struck off. See here

So what the hell is going on?

[Carsons Dog 9,878]

Don't hold your breath for a rich Arab sheikh either

They are all getting overthrown

[gunslinger 270]

the situation is clear.

minimal spending and all profits to the bank.

[minnbear 30]

The only financial evidence thrown up by even the simplest search into whytes financial nous, is debt and lots of it. His side kick ellis has already been shown up to be a man of straw, how he expected to buy the club with no money is anyone's guess.

Whyte hasn't a pot to piss in, or else he is the most successful and shrewdest business man in history, as he has managed to conceal this glittering gold lined money making career from the entire business world, I know what my money is on.

However if you can produce the slightest glimmer of hope or better still evidence of this glittering wealth (minus the 90k he owes One Stop Roofing), I shall eat my bunnet.

Wouldn't he have to show to someone that he has enough funds to buy us before being allowed to nose through our books, or can anybody just say they want to buy us and take a wee peek ?

[Turnberry18 3,204]

Wouldn't he have to show to someone that he has enough funds to buy us before being allowed to nose through our books, or can anybody just say they want to buy us and take a wee peek ?

Anyone who does Due Dilligence on the Club has it reciprocated. A charlatan would have to be fairly shameless to offer themselves for that process.

[minnbear 30]

Anyone who does Due Dilligence on the Club has it reciprocated. A charlatan would have to be fairly shameless to offer themselves for that process.

That's what I would've thought, so I don't buy into this "he is broke and up to his eyes and debt". He (or someone behind him), must have the money, or IMO it would make this due diligence thing a farce, " ah want tae buy the Rangurs, but ah need a wee swatch at the books furst tae see if it's wurf it".

[spangles 7]

Anyone who does Due Dilligence on the Club has it reciprocated. A charlatan would have to be fairly shameless to offer themselves for that process.

Would this be the same DD carried out on ellis, rather badly if at all.

CLUB OWNERSHIP

Andrew Ellis has held talks with Donald Muir and with Sir David Murray and has provided proof of funds. However, the Chairman indicated that the Board has, as yet, received no firm details of the Ellis proposals or indeed had any discussion with him. Any proposed buyer has to negotiate a purchase price with the seller and, if a bid is made, it will be reviewed by the Independent Panel (made up of five of the current Directors) who will assess the bid against a set of parameters and criteria then make a recommendation to shareholders. The panel cannot block a bid as such and with Sir David Murray being the majority shareholder, he effectively holds the call on any bid. Whilst there has been speculation about other interested parties, there has been no formal approaches other than Andrew Ellis.

CURRENT FINANCES

A meeting was held today (Monday) with the Bank to agree the budget parameters for next season. Donald Muir feels the Club are going into that meeting in a better position than last year and he is optimistic that the outcome will enable the Club to be able to strengthen the playing squad albeit not significantly. There is no money specifically ring-fenced by the Bank to help clear debt - there is a credit facility the Club cannot exceed and there are plans being presented to the Bank that will enable the Club to operate within that limit. There is no requirement to sell players for financial reasons. A key enabler for the business plan is season ticket income and it is vitally important that continues. We pressed strongly for the Champions League income to be assigned Walter Smith as a reward for his record of achievement. The baseline financial plan assumes Europa League participation so there will be additional unplanned income and we said we hoped that could be used to strengthen the squad.

MANAGEMENT AND PLAYER CONTRACTS

Walter Smith is in a similar position to the fans. He requires clarity and information to help decide his future. Hopefully, following the outcome of the meeting with the Bank today, he will be able to decide his future - we stressed our desire for him to stay, his leadership role at this difficult time and the positive impact of him deciding to stay on and being able to strengthen the squad.

Some of the out of contract players have been made offers that equal or better their current deals. As yet, none have decided to accept a new contract. Martin Bain said they are all playing their cards close to their chests. He did say that any money there is to spend has to be balanced between freshening up the squad and/or improving the current contracts.

CHAMPIONS LEAGUE

We stressed that the admission package for the home matches must be realistic and fair and we must learn from last season. Martin Bain agreed and indicated that the current budgeted prices will be less than last season. We questioned whether that was irrespective of the draw and he stated that he hoped that it would be as fans had dug deep and they had to be fair in the current economic climate.

PRE-SEASON

It is likely that there will be a pre-season visit to Australia comprising of three matches in Sydney and there is planning underway for home (Newcastle Utd) and away (Stoke City) friendlies - they are not confirmed as yet but hopefully details will be available soon.

MEDIA

Following the meeting, I was interviewed by Sky Sports News, Radio Scotland and Radio Clyde. I gave a factual account of the discussions and stressed the message that fans should buy season tickets and ensure that we maintain our support. I said we were all desperate for Walter to stay and that he would have some funds to strengthen the playing squad. I reiterated that the ongoing uncertainty was a big worry for fans and, the longer that continued, the more restless fans would become.

ANDY KERR

[Turnberry18 3,204]

That's what I would've thought, so I don't buy into this "he is broke and up to his eyes and debt". He (or someone behind him), must have the money, or IMO it would make this due diligence thing a farce, " ah want tae buy the Rangurs, but ah need a wee swatch at the books furst tae see if it's wurf it".

You make a good point, if I have picked you up properly. You want to invest in a Scottish football Club, albeit the biggest and best, and you would already be aware that TV money is zilch, the well publicised debt, and the possibility of a tax hit, and you think erm I will not invest till I have Due Dilligence. I had my doubts about this, but I think Craig Whyte will be a major investor in the Club. Due Dilligence means that his finances will be gone over with a fine tooth comb, from the little I have heard about Mr Whyte he would not want to be a laughing stock.

[Turnberry18 3,204]

Would this be the same DD carried out on ellis, rather badly if at all.

CLUB OWNERSHIP

Andrew Ellis has held talks with Donald Muir and with Sir David Murray and has provided proof of funds. However, the Chairman indicated that the Board has, as yet, received no firm details of the Ellis proposals or indeed had any discussion with him. Any proposed buyer has to negotiate a purchase price with the seller and, if a bid is made, it will be reviewed by the Independent Panel (made up of five of the current Directors) who will assess the bid against a set of parameters and criteria then make a recommendation to shareholders. The panel cannot block a bid as such and with Sir David Murray being the majority shareholder, he effectively holds the call on any bid. Whilst there has been speculation about other interested parties, there has been no formal approaches other than Andrew Ellis.

CURRENT FINANCES

A meeting was held today (Monday) with the Bank to agree the budget parameters for next season. Donald Muir feels the Club are going into that meeting in a better position than last year and he is optimistic that the outcome will enable the Club to be able to strengthen the playing squad albeit not significantly. There is no money specifically ring-fenced by the Bank to help clear debt - there is a credit facility the Club cannot exceed and there are plans being presented to the Bank that will enable the Club to operate within that limit. There is no requirement to sell players for financial reasons. A key enabler for the business plan is season ticket income and it is vitally important that continues. We pressed strongly for the Champions League income to be assigned Walter Smith as a reward for his record of achievement. The baseline financial plan assumes Europa League participation so there will be additional unplanned income and we said we hoped that could be used to strengthen the squad.

MANAGEMENT AND PLAYER CONTRACTS

Walter Smith is in a similar position to the fans. He requires clarity and information to help decide his future. Hopefully, following the outcome of the meeting with the Bank today, he will be able to decide his future - we stressed our desire for him to stay, his leadership role at this difficult time and the positive impact of him deciding to stay on and being able to strengthen the squad.

Some of the out of contract players have been made offers that equal or better their current deals. As yet, none have decided to accept a new contract. Martin Bain said they are all playing their cards close to their chests. He did say that any money there is to spend has to be balanced between freshening up the squad and/or improving the current contracts.

CHAMPIONS LEAGUE

We stressed that the admission package for the home matches must be realistic and fair and we must learn from last season. Martin Bain agreed and indicated that the current budgeted prices will be less than last season. We questioned whether that was irrespective of the draw and he stated that he hoped that it would be as fans had dug deep and they had to be fair in the current economic climate.

PRE-SEASON

It is likely that there will be a pre-season visit to Australia comprising of three matches in Sydney and there is planning underway for home (Newcastle Utd) and away (Stoke City) friendlies - they are not confirmed as yet but hopefully details will be available soon.

MEDIA

Following the meeting, I was interviewed by Sky Sports News, Radio Scotland and Radio Clyde. I gave a factual account of the discussions and stressed the message that fans should buy season tickets and ensure that we maintain our support. I said we were all desperate for Walter to stay and that he would have some funds to strengthen the playing squad. I reiterated that the ongoing uncertainty was a big worry for fans and, the longer that continued, the more restless fans would become.

ANDY KERR

I have my own thoughts about the role of Andrew Ellis in all of this, but they cannot be substantiated and therefore are not worth saying. I think if it is Craig Whyte who is the investor in the Club then it will be him running things and Ellis will not be significant to that.

[minnbear 30]

You make a good point, if I have picked you up properly. You want to invest in a Scottish football Club, albeit the biggest and best, and you would already be aware that TV money is zilch, the well publicised debt, and the possibility of a tax hit, and you think erm I will not invest till I have Due Dilligence. I had my doubts about this, but I think Craig Whyte will be a major investor in the Club. Due Dilligence means that his finances will be gone over with a fine tooth comb, from the little I have heard about Mr Whyte he would not want to be a laughing stock.