Bill Ng speaks to Singapore press about Rangers takeover

[scottyboyblue 61]

Came across this, interesting that this piece says £20m and not £12m

http://www.football.co.uk/rangers/singaporean_boss_in_rangers_bid_rss2173523.shtml

[stefmartin16 121]

Generally it's an interesting piece from a Singaporean perspective.

It appears information on Bill Ng (definitely pronounced 'ing') is starting to trickle out though. Apparently, he has been in the stockbroking business for many years, and now owns his own private equity firm. There have been various unconfirmed reports of his net worth, with some estimating it to be in the billions. His family are certainly well off (see Forbes list of 2011).

As with all bids though, it's difficult to analyse them all that well until the finer detail is known.

Please tell me his name isn't pronounced bill ing.

[stefmartin16 121]

"Mr Ng - A Rangers fan himself for more than a decade" - find that part a little hard to believe, I lived in Asia for 6 years and never once met a local who supported us. Virtually everyone has heard of us... but almost every fucker I ever met supports either Man U or Liverpool.

Still I believe, this would be an interesting offer... at least it would not be more of the same "Rangers men" who have driven the club into the mire.

From my experiences of Asia most people do support united and Liverpool but they are a fickle lot and in the last year there are more and more of them supporting man city because they are doing well. Maybe we can get rangers better support out there.

[thiepvalwood 33]

Can understand the cynicism above on his Rangers supporting credentials but it is misplaced.

[Frankie 505]

The Hougang scarves are pretty nice...

http://www.hgfc.com.sg/fans.html

[RFC55 108,934]

The Hougang scarves are pretty nice...

http://www.hgfc.com.sg/fans.html

Daily record exclusive

"Would be Rangers owner Bill Ng has links to UVF"

[disgruntled_bear 157]

The Singapore bid has my backing after learning a bit more about them.

We need a fresh pair of eyes looking over our club. Not a throw back to the same old job for the boys routine.

[disgruntled_bear 157]

If only we knew about these scarves earlier!

We could have showed our support for Bill Ng takeover bid.

[RFC55 108,934]

If only we knew about these scarf's earlier!

We could have showed our support for Bill Ng takeover bid.

We should maybe order a few in

[ayrshiregers 10]

If everything I've read about this Bill Ng ( if his name is pronounced Bill-Ing i'll be in stitches ) is true then why not ? He seems to be as interested as anyone and has the money to back it up .

Also clearly a UVF supporter , according to the Daily Rhecord's headlines tomorrow?

[disgruntled_bear 157]

We should maybe order a few in

Definitely, might be too late by then though. Administrators will be making a decision by the end of next week.

[bilko89 507]

Daily record exclusive

"Would be Rangers owner Bill Ng has links to UVF"

Stewart Regan:

Mr Ng doesn't pass the fit and proper test due to sectarian past see article 188.8:-

"naebody is allowed tae take oor rangers wae mare money than us man" Act April 2012

Passed my Peter Lawwell

[RFC55 108,934]

Stewart Regan:

Mr Ng doesn't pass the fit and proper test due to sectarian past see article 188.8:-

"naebody is allowed tae take oor rangers wae mare money than us man" Act April 2012

Passed my Peter Lawwell

[Edmiston Drive 3,846]

It's not all bad....it cuts my flying time by 75% to see a home gemme and Singapore is a great place to be in Winter time

Bloody typical, thinking about yourself again

[CanadianBacon 2,088]

Also, despite what was written in today's Sun, the Singapore remains committed to buying the club.

I spoke to a source yesterday (a soursce is a source of course of course, Mr Ed Loyal ) who claims there is a local (Glasgow) connection to this bid Frankie.

I won't repeat what he told me - are you aware of any of this?

[WWTC 2,247]

"Mr Ng - A Rangers fan himself for more than a decade" - find that part a little hard to believe, I lived in Asia for 6 years and never once met a local who supported us. Virtually everyone has heard of us... but almost every fucker I ever met supports either Man U or Liverpool.

Still I believe, this would be an interesting offer... at least it would not be more of the same "Rangers men" who have driven the club into the mire.

Id like to point out, my earlier post was not a dig at Mr Ng's supposed support of us, it was infact a dig at the sentence "i lived in in asia for 6 years and i never once met a local who supported us".

That sentence is priceless. Yesterday, i swam in sea, and i never saw a single fish

[bilko89 507]

I spoke to a source yesterday (a soursce is a source of course of course, Mr Ed Loyal ) who claims there is a local (Glasgow) connection to this bid Frankie.

I won't repeat what he told me - are you aware of any of this?

Is this not Dunny's pal?

[caseyjones 3,009]

Id like to point out, my earlier post was not a dig at Mr Ng's supposed support of us, it was infact a dig at the sentence "i lived in in asia for 6 years and i never once met a local who supported us".

That sentence is priceless. Yesterday, i swam in sea, and i never saw a single fish

The chippy would have been a better bet.

[bailbo 9]

the big picture here is he will bring rangers to a massive population, therefore all going well he will make a killing for us and himself with sales, plus there are bound to be alot of there young players that rangers could tap into, lets not be daft here if we had signed those too indian boys dont you think our Global market will explode, just on sales alone these countries have a massive market and we could unearth afew gems, most times we go to the normal market and get a fanny who never kicks a ball for us or they are shite. we all thought whyte was a decent guy dont rule out everyone else because of him .

[disgruntled_bear 157]

Singapore. Hougang United chairman Bill Ng has emerged as one of the key figures behind an audacious Singapore bid to take over Scottish football giants Rangers FC.

The 52-year-old, who is a director at private equity firm Financial Frontiers, told The Straits Times on Thursday that he is one of a “handful of Singaporeans from the financial industry” to table a bid for the debt-stricken club.

The Singaporeans are one of four parties who have submitted offers for the reigning Scottish champions. The other bidders are the Blue Knights group led by former Rangers director Paul Murray, Chicago-based Club 9 Sports and an unknown German firm.

The famed Glasgow outfit, which has won the Scottish league a record 54 times, entered administration last month following tax disputes.

“This is a chance to put Singapore on the world football map,” said Ng, speaking from London, where he met club administrators over the course of the week.

“We’re not just doing this for financial reasons. If we take over Rangers, we’ve got plans that will positively impact Singapore football in the long run.”

Club administrators told The Straits Times that all four bids were “positive and constructive” and added that they hoped to identify a preferred bidder next week, followed by due diligence.

While no figures have been disclosed publicly, the offers are likely to run in the tens of millions. It cost Rangers owner Craig Whyte about £52.5 million ($83.3 million) to take over the club from former owner David Murray in May last year.

Ng believes the Singapore bid may hold an advantage as it is against liquidating the 141-year-old institution, which reportedly boasts a worldwide fanbase of 5.5 million.

It is understood that the Americans’ offer favors liquidation and the subsequent formation of a new company — a move that will undoubtedly anger Rangers fans.

The Singaporeans want to take the route of a Company Voluntary Arrangement, a procedure which enables a company to reach an agreement with its creditors about how the debt is to be repaid. It provides for partial or full repayment depending on what the company can reasonably afford to pay.

Ng said: “We’ve told the administrators that we’ll set aside £12 million to be split among the creditors.

“For every dollar of debt the club owes, about 20 cents will be paid back, while the rest will be written off.”

Leading candidate Blue Knights has also announced that it will adopt a similar approach.

Rangers sank into crisis following news that Whyte had bought the club using money — about £24.4 million — raised by mortgaging three years’ worth of season tickets to London- based agency Ticketus.

If the Singaporeans’ bid succeeds, they will appoint a board of directors — Scottish businessmen who support the club — to run the club and keep a tight rein on finances.

On the field, Ng — a Rangers fan himself for more than a decade — revealed plans for an exchange program that will see Singapore coaches and administrators hone their trade at the club’s famous Ibrox stadium.

According to Ng, who took over S-League side Hougang two years ago, Rangers offered a more realistic ownership option than an English Premier League club.

Singapore billionaire Peter Lim’s £320million bid to buy English giants Liverpool in 2010 was edged out by New England Sports Ventures, owners of American baseball team Boston Red Sox.

Ng said: “Our population size is quite similar to Scotland’s so there’s plenty for us to learn from them in terms of football development.

“We aim to engage the Football Association of Singapore on more ideas that can benefit local football.”

http://www.thejakartaglobe.com/sports/singapore-football-figure-a-key-figure-in-rangers-fc-bid/509554

Wee bit more info coming out of Singapore about Bill Ng takeover bid.

[Ozblue 4,331]

Bloody typical, thinking about yourself again

I might be auld, but a'm no daft

[WWTC 2,247]

The chippy would have been a better bet.

Na, thats a waste, supper all the way.

On a side note, i live in europe, but ive never met a

woman from luxembourg!!!!

[Edmiston Drive 3,846]

I spoke to a source yesterday (a soursce is a source of course of course, Mr Ed Loyal ) who claims there is a local (Glasgow) connection to this bid Frankie.

I won't repeat what he told me - are you aware of any of this?

You down China Town, he always goes for his cream cakes on a Thursday from there.

[caseyjones 3,009]

the big picture here is he will bring rangers to a massive population, therefore all going well he will make a killing for us and himself with sales, plus there are bound to be alot of there young players that rangers could tap into, lets not be daft here if we had signed those too indian boys dont you think our Global market will explode, just on sales alone these countries have a massive market and we could unearth afew gems, most times we go to the normal market and get a fanny who never kicks a ball for us or they are shite. we all thought whyte was a decent guy dont rule out everyone else because of him .

I think the finances to be gained from a foreign market are overhyped. The main benefit would come from tv income and that is something which is controlled by the SPL, and given what's on offer won't be that lucrative. The talent pool available is something which can be exploited, but it would still be extremely difficult to attract the best they have to offer. Manchester United, for instance, already have established soccer schools over there, and they won't be alone.

[caseyjones 3,009]

Ng is not the only foreign investor keen on a buyout bid, with American millionaire Miller today revealed as the third man at the table.

Miller is chairman of the world's largest manufacturer of towing and recovery equipment but is not reported to be a football fan, instead being known for his support of US motorsport series NASCAR and IndyCar.

The 65-year-old was initially part of the Club 9 consortium that looked into a takeover before pulling out of the running before Wednesday's deadline and has a chequered past in sports, with a number of his investments, including the Team Racing Auto Circuit NASCAR outfit, falling through before getting off the ground.

Miller will have to win over the Ibrox crowd if he is given the green light to buy Rangers, with fans wary over his intentions and keen to fend off any move to place the club in liquidation.

http://www.eveningtimes.co.uk/news/tycoon-bidder-breaks-silence.17240768

THE American tycoon who has launched a bid to buy Rangers has a history of failed sporting ventures and bankruptcy.

Record Sport can today reveal Georgia-based businessman Bill Miller is the money man behind the US bid that yesterday became one of three front-runners for control of the stricken SPL champions.

Miller – who has amassed a fortune from a vehicle towing company – had originally been part of a 12-man Chicago based consortium, including Club 9 Sports, that had been preparing to bid for Craig Whyte’s shares.

But the consortium unexpectedly backed out at the 11th hour on Tuesday night.

And now sources in America have confirmed the wealthy 64-year-old – who impressed administrators by providing proof of “substantial” personal wealth – is heading up a splinter group determined to follow through on the original plan.

But Rangers fans, still reeling from damage done by Whyte’s shamed regime, will be alarmed by some of Miller’s previous exploits.

As will administrators Duff and Phelps, who are determined to ensure the club’s next owner will be a fit and proper person.

Miller is known in the US as the financial muscle behind Club 9 Sports and has forged close links with the men running its parent company, Prometheus, Jon Pritchett and John Prutch.

Record Sport can reveal Pritchett and Prutch were the leaders of the original consortium Miller had agreed to back until the decision to pull the plug.

This followed a furious reaction from Rangers fans to Club 9’s involvement and the overall American plan to liquidate the club and reform as a new company.

It is not yet clear if Miller plans to stick to the same strategy or if pals Pritchett and Prutch remain in the picture. But they have been involved in a string of previous deals, one of which saw Miller and Pritchett at the centre of a £32million law suit.

Miller is described in a document from the original US group as a “highly successful business leader, entrepreneur, investor and philanthropist”.

But there is no mention of his disastrous move into motor racing 11 years ago when he was appointed by one of Pritchett’s companies to head up a new stock car league billed in the US as a potential rival to NASCAR.

The ambitious Team Racing Auto Circuit (TRAC) project crashed and burned before its first race.

In February 2004, Miller and Pritchett faced a massive legal action by shareholders who claimed to have been duped to the tune of £32m.

Named in the suit were Miller, ex-chief executive of Team Sports Entertainment, and Pritchett, ex-president.

More than a year later and after a great deal of legal wrangling, the case was settled out of court for an unknown amount.

Shareholder Edward Garland said of Miller: “The company and its directors thought they were getting an experienced CEO.

“Instead it got a man full of greed who wanted control of the company for himself.”

Team Sports Entertainment changed names but is now bankrupt.

But Miller’s main empire was going from strength to strength. He has been CEO and chairman of Miller Industries since the mid 1990s. Known as the “towing tycoon”, Miller has amassed a personal fortune from his companies which boast a £253m turnover.

More recently, Miller agreed to fund another of Pritchett’s schemes, a Club 9 Sports plan to relocate a minor league hockey side.

But the plan fell through because they could not strike a deal to set up a local sporting arena that would have required a £700,000 up-front investment.

Now Miller is eyeing his next move. And yesterday his chances of completing a successful Rangers takeover were enhanced when the administrators made his bid one of three remaining front runners, along with Paul Murray’s Blue Knights and a Bill Ng led consortium from Singapore.

Record Sport tried to contact Miller several times last night but he was unavailable for comment.

http://www.<No links to this website>/football/spl/rangers/2012/04/06/rangers-in-crisis-us-tycoon-in-running-for-ibrox-takeover-has-history-of-sporting-flops-86908-23814963/