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Info on Singaporean Bid - From Gersnet


bluepeter

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Rangers in crisis: Far east consortium have no plans to liquidate the club

A SINGAPORE businessman hoping to be named the preferred bidder in the battle for Rangers does NOT plan to liquidate the club.

Record Sport can reveal business magnate Bill Ng is the major figure in the Far East consortium that will make its play for Rangers, along with Paul Murray’s Blue Knight’s consortium and the Chicago-based Club 9 Sports investment fund.

All three groups have been asked by the club administrators Duff and Phelps to have their final offers on the table by the end of business today.

One of them will then be named preferred bidder and given time to carry out their due diligence.

It is understood the US bid favours liquidating the club and starting with a newco – a move that will fought by Rangers fans.

The Blue Knights are also against that and propose an exiting administration with a Company Voluntary Arrangement (CVA).

But the Singapore bid has been shrouded in mystery, leading to speculation it favours the liquidation option but last night a British-based source close to the group revealed a CVA is part of their business plan.

He said: “Ng is a seriously wealthy individual. He feels Rangers represent a fantastic marketing opportunity.

“He would take the brand out of Europe and across the globe but, in particular, to the Far East where there is serious money to be made.

“Not only Rangers would benefit. Scottish football would be taken to these new markets.

“The people behind this don’t want to conduct their business in the public eye, which is why they have not been as vocal as some of the bidders. But they are serious and honourable, respected business people.

“Reports stating they would liquidate Rangers are wrong. They have always favoured the CVA route.”

It’s understood Ng would appoint a board of directors – Scottish businessmen who support the club – to run the club and keep a tight rein on finances.

http://www.<No links to this website>/football/spl/rangers/2012/04/04/rangers-in-crisis-far-east-consortium-have-no-plans-to-liquidate-the-club-86908-23812681/

So Bill Ng is one of the wealthy backers of this Singapore consortium. Anybody got any idea what he's worth?

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If you look at the forbes rich list for singapore in2010/11 the 'ng family' are at no.1 with an estimated wealth of around 8-9 BILLION US DOLLARS. lets hope billy is one of their boys. (see what i did there). Fingers crossed.

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If you look at the forbes rich list for singapore in2010/11 the 'ng family' are at no.1 with an estimated wealth of around 8-9 BILLION US DOLLARS. lets hope billy is one of their boys. (see what i did there). Fingers crossed.

I think they are a different family.

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This is like transfer deadline day x100......my stomach is tight as fuck and i don't know if i'm more excited or scared.Hurry up 5pm till we have a better idea of what is happening.

Don't hold your breath. Could be a few days yet before any preferred bid is announced.

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