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Four Rangers Bidders Confirmed: Which Is The Whyte One?


DarcheVinny
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Four Rangers Bidders Confirmed: Which Is The Whyte One?

[imgleft]http://i1112.photobucket.com/albums/k494/DarcheVinny/craigwhyte_200_200.jpg[/imgleft]The deadline for interested parties to bid for the ownership of our beloved football club has come and gone. 5pm was the deadline and finally, we can now move in to the next chapter of this process of administration.

It has been confirmed this evening on numerous media outlets that there are four bidders. These include Paul Murray's Blue Knights, a consortium from Singapore, a bid from America and a surprise bid from Germany.

Duff and Phelps have also released a statement to confirm that they have received those four bids, by close of play today; "the bids are structured in various ways, but I would describe them as positive and constructive. We will now analyse each bid over the forthcoming days and hold discussions with the relevant parties to get a further understanding about the details of their bids. It is our intention to accept an offer by next week."

It is impossible to begin to assess which bid will be the right one.

As we know, The Blue Knights have Ticketus on board and this will take away the possibility of years of legal battles, trying to ascertain whether Rangers actually owe Ticketus a penny. This comes at a cost of £10million, interest free and paid back over nine years, as reported earlier this week.

The first problem I can see with The Blue Knights, lies between Paul Murray and Craig Whyte, although Whyte has stated he would work with The Blue Knights should they wish to takeover his 85% sharehold, but definitely not with Paul Murray directly.

With regards to the other bids, we can only make an assumption that they have a place in place to deal with secured creditors - HMRC, Ticketus and that man Whyte? - and every other unsecured creditor, that does not involve a liquidation scenario. Duff and Phelps now how important the fans are to Rangers and this weekends showing of red cards at Ibrox, will make it crystal clear that the support will not back a liquidation scenario.

You will notice above that I included Craig Whyte in that list of secured creditors.

Yesterday it was reported that Whyte had registered a debenture document with Companies House on March 21st of this year. This document will protect and acknowledge a directors loan made by Whyte from one of his companies to Rangers FC Group - the company that owns Rangers. In other words, Craig Whyte has convinced Companies House that he has made a considerable 'financial commitment' to Rangers and has made this move to protect his 'investment'.

I am sure all fans will agree that from what we have read and heard, Craig Whyte has only ever put in £1 of his own money, since taking over David Murray's 85% sharehold.

So since when and how much is this 'financial commitment' that Whyte has allegedly made? I don't think we'll ever get to know. But if Companies House have accepted that document, it jumps Craig Whyte ahead of all unsecured creditors.

From my basic understanding, it will cost the Whyte bidder - as to be chosen by Duff and Phelps next week - 'x' amount of millions, to purchase Whyte's 85% shareholding.

I just hope that each bidder has a plan in place for 'paying off' Whyte and saving our club. We don't want this change of ownership to be dragged out as long as administration, Whyte's takeover, or the tax case for example. The end of the season is drawing ever closer.

All eyes on Duff and Phelps.

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