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The Blue Knight's - The Last Man Standing


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THE Germans have pulled out of the bidding war for Rangers.

SunSport understands the consortiums from America and Singapore could follow them.

That would leave Paul Murray and his Blue Knights as the last men standing in the fight to seize control of the Ibrox giants.

Four bids made Wednesday’s 5pm deadline, including an offer from a mystery German-based company.

But after detailed discussions with the administrators Duff & Phelps yesterday, it became clear that bid would NOT be considered as a viable option.

Now in a fresh twist SunSport has learned offers from Singapore and the US are also struggling to stand up to scrutiny.

It’s believed that the American offer, worth £25million, was lodged by investors who were part of the consortium put together by Club 9 Sports, who pulled out of the running on Tuesday.

Business magnate Bill Ng is the major figure in the Far East group.

But both parties are now seriously considering their options after the magnitude of Gers’ debt was laid bare yesterday.

Bean-counters estimate Gers owe creditors a staggering £134m. That figure could scare off rivals and leave Murray in pole position.

Joint administrator David Whitehouse confirmed the Germans are now out of the race. He said: “I can confirm we will consider further three of the four bids. We have had a number of discussions with the parties today.”

The Blue Knights’ bid is believed to be worth £10m, and they have an agreement in principle with Ticketus to wipe £17m off the debt they are owed by Rangers.

Murray would look to exit administration via a CVA, avoiding the doomsday scenario of liquidation.

Whitehouse admitted: “We can now see light at the end of the tunnel whereby the club exits from administration and can focus upon success on the pitch. Exit from administration does look achievable by the end of the season.”

http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4241972/Germans-back-out-of-Gers-takeover.html#ixzz1rD1hpurF

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Piss poor journalism imo. I might be way off the mark here but I am sure that any prospective buyers would have had a good idea as to what the debt would be. You don't go to buy a house without knowing how much it is going to cost, do you?

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Piss poor journalism imo. I might be way off the mark here but I am sure that any prospective buyers would have had a good idea as to what the debt would be. You don't go to buy a house without knowing how much it is going to cost, do you?

the report that was released today has been available to the bidders for 7 days. the suns full a keek

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Several multi-millionaires in a consortium and all they can come up with is :-

"The Blue Knights’ bid is believed to be worth £10m"

That's gonna cover the Administrators fees and nothing else.

Feeling depressed again

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if 'reports' are 'true'

£10million from a consortium containing multi-millionaires?

going in a tad low no?

why give whyte all the money. maybe i'm wrong but is the 10 million not just to buy the club or does the 10 million go towards the cva?

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if 'reports' are 'true'

£10million from a consortium containing multi-millionaires?

going in a tad low no?

Big question. If we fail to win the HMRC cases would HMRC agree to a CVA with that little in the pot?

Or would the consortium/Ticketus stump up more money for the CVA in lieu of share issue monies?

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