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Singapore Times:Ng willing to partner Miller


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Thursday, April 12, 2012Weather 30 / 24 °C TODAY Singapore Commentary Voices Hot TopicsI SayWorld Science Business ImpactSMEPropertyPersonal FinanceSports Photos Videos SundayColumns MaladjustedPostscriptIn Real LifeThe Fairer TextNYT - TODAY TEntertainment TelevisionMoviesMusicDesign Health Tech & Digital Travel Wine & Dine Cars Style Things To Do Blogs Star GazingFor Art's Sake!PoparazziRated GTech TalkThe Sports Editor SaysSport TodayBehind The HeadlinesVideos of the DayToday Multimedia Latest: Hamilton aiming for consistency

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Home Sports American favoured in Rangers tussle

EmailPrint American favoured in Rangers tussle

Sources say S'pore consortium interested in linking up with Miller if his bid is successful

by Ian De Cotta 04:46 AM Apr 12, 2012SINGAPORE - Bill Ng, who leads the Singapore consortium hoping to become the new owners of 54-time Scottish champions Glasgow Rangers, is not bullish about his group's chances of landing the storied Scottish club, even though their £20-million (S$40 million) offer is similar to the other two competing bids. Rangers went into administration in February due to mounting debts.

Yesterday, it emerged that the sale of the club has been delayed and potentially put in jeopardy after administrators said that a league meeting over penalties for insolvencies could change the intentions of the three bidders.

Administrators Duff & Phelps had hoped to accept an offer this week but have now had to inform bidders of a possible change in the club's situation, with the Scottish Premier League considering points deductions in the next two seasons.

Ng, who is chairman of S-League club Hougang United, said yesterday: "There will always be another club to go for if Rangers slip out of our hands. Perhaps being an outsider from another continent works against us, but our plans are sound for the good of Rangers and do not undermine the Scottish culture."

While the latest development coming out of Scotland will affect the bidding process, the fervour for the 140-year-old British institution to stay in Scottish hands remains strong and fans of Rangers have got behind The Blue Knights, a consortium headed by former club director Paul Murray.

The group also has the endorsement of Ticketus, the club's ticketing partners who provided £24.4 million to Craig Whyte to mount his takeover of the club last May. While Whyte has failed to turn Rangers around, Ticketus remain key players as they are the biggest creditors of the club, to the tune of £26.7 million.

According to analysts, American tycoon Bill Miller, who makes tow trucks and recovery equipment, is the favourite in the three-way battle for Rangers.

The businessman held a one-hour conference call with current coach Ally McCoist on Saturday, the day when the club lost the Scottish Premier League title to bitter rivals Celtic. Miller may have been involved in a couple of failed sports projects in the United States, but McCoist was reportedly impressed by the American's plan for the club.

While Ng refused to comment, sources close to the businessman claimed he is willing to partner Miller should the American land Rangers.

Ng, who consulted executives of Malaysia's Berjaya Group, the owners of Championship side Cardiff City, on his return from London earlier this week, is wary about the extent of Rangers' debts, with more creditors emerging after his group submitted their bid.

The Scottish giants went into court-ordered administration after British tax authorities sought an unpaid bill of £9 million. They face a further bill of £75 million, including interest and penalties, if they lose an Employee Benefit Trust dispute with the tax authorities.

Said Ng: "Apart from what was already known, other creditors have emerged in the days following our bid submission.

"It has put a new dimension to what is needed to keep the club afloat, but what we are prepared to do to help Rangers remains and we are not going to raise the amount we have already pledged."

Image 1 of 1 enlarge this photoNg is confident his plans will not undermine Rangers and Scottish culture. TODAY FILE PHOTO Ng is confident his plans will not undermine Rangers and Scottish culture. TODAY FILE PHOTO

Copyright © MediaCorp Press Ltd

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im not sure if i like this - hard to imagine an american and a businessman from singapore seeing eye-to-eye.

Specially when the DR say Miller ready to walk, I know bidders are not supposed to make statements while preferred bidder is being looked at, but, someone needs to say something !

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I don't really like the sound of this; there does not seem to be any clear narrative coming from any of them. One way or another we really need closure to all of this, starting with this tax case, and then move forward. The fact that nobody can state clearly that they want to invest in the club is mitigated by this thing; the sooner it is cleared up the better.

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Got the tweet:::

Read it from the bottom up bears - Al Lamont on Twitter has been talking to Ng:

.. than to get surprises after we have done our budget."

8m Alasdair Lamont ‏ @BBCAlLamont Reply Retweet Favorite · Open

"Change of rules does affect the finances of the club, but it does not affect our passion. It is better to know the changes early...

8m Alasdair Lamont ‏ @BBCAlLamont Reply Retweet Favorite · Open

Bill Ng: "My bottom line is to ensure Rangers continual survival. My bid has been submitted, we stand by what we promised."

9m Alasdair Lamont ‏ @BBCAlLamont Reply Retweet Favorite · Open

But Bill Ng, the man leading a consortium from the Far East, says he's unhappy with the goalposts being shifted over the past two weeks.

10m Alasdair Lamont ‏ @BBCAlLamont Reply Retweet Favorite · Open

One of Rangers' potential new owners has told BBC Scotland his bid stands, despite proposed changes to SPL sanctions for insolvent clubs.

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Surely it only affects the finances if we are liquidated? If the bid was accepted and Ng took over before the end of the season then there would be no further sanctions for administration surely? Or have I got the wrong end of the stick and this '75% reduction in TV money' thing will affect us no matter what now?!

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Thursday, April 12, 2012Weather 30 / 24 °C TODAY Singapore Commentary Voices Hot TopicsI SayWorld Science Business ImpactSMEPropertyPersonal FinanceSports Photos Videos SundayColumns MaladjustedPostscriptIn Real LifeThe Fairer TextNYT - TODAY TEntertainment TelevisionMoviesMusicDesign Health Tech & Digital Travel Wine & Dine Cars Style Things To Do Blogs Star GazingFor Art's Sake!PoparazziRated GTech TalkThe Sports Editor SaysSport TodayBehind The HeadlinesVideos of the DayToday Multimedia Latest: Hamilton aiming for consistency

--------------------------------------------------------------------------------

Home Sports American favoured in Rangers tussle

EmailPrint American favoured in Rangers tussle

Sources say S'pore consortium interested in linking up with Miller if his bid is successful

by Ian De Cotta 04:46 AM Apr 12, 2012SINGAPORE - Bill Ng, who leads the Singapore consortium hoping to become the new owners of 54-time Scottish champions Glasgow Rangers, is not bullish about his group's chances of landing the storied Scottish club, even though their £20-million (S$40 million) offer is similar to the other two competing bids. Rangers went into administration in February due to mounting debts.

Yesterday, it emerged that the sale of the club has been delayed and potentially put in jeopardy after administrators said that a league meeting over penalties for insolvencies could change the intentions of the three bidders.

Administrators Duff & Phelps had hoped to accept an offer this week but have now had to inform bidders of a possible change in the club's situation, with the Scottish Premier League considering points deductions in the next two seasons.

Ng, who is chairman of S-League club Hougang United, said yesterday: "There will always be another club to go for if Rangers slip out of our hands. Perhaps being an outsider from another continent works against us, but our plans are sound for the good of Rangers and do not undermine the Scottish culture."

While the latest development coming out of Scotland will affect the bidding process, the fervour for the 140-year-old British institution to stay in Scottish hands remains strong and fans of Rangers have got behind The Blue Knights, a consortium headed by former club director Paul Murray.

The group also has the endorsement of Ticketus, the club's ticketing partners who provided £24.4 million to Craig Whyte to mount his takeover of the club last May. While Whyte has failed to turn Rangers around, Ticketus remain key players as they are the biggest creditors of the club, to the tune of £26.7 million.

According to analysts, American tycoon Bill Miller, who makes tow trucks and recovery equipment, is the favourite in the three-way battle for Rangers.

The businessman held a one-hour conference call with current coach Ally McCoist on Saturday, the day when the club lost the Scottish Premier League title to bitter rivals Celtic. Miller may have been involved in a couple of failed sports projects in the United States, but McCoist was reportedly impressed by the American's plan for the club.

While Ng refused to comment, sources close to the businessman claimed he is willing to partner Miller should the American land Rangers.

Ng, who consulted executives of Malaysia's Berjaya Group, the owners of Championship side Cardiff City, on his return from London earlier this week, is wary about the extent of Rangers' debts, with more creditors emerging after his group submitted their bid.

The Scottish giants went into court-ordered administration after British tax authorities sought an unpaid bill of £9 million. They face a further bill of £75 million, including interest and penalties, if they lose an Employee Benefit Trust dispute with the tax authorities.

Said Ng: "Apart from what was already known, other creditors have emerged in the days following our bid submission.

"It has put a new dimension to what is needed to keep the club afloat, but what we are prepared to do to help Rangers remains and we are not going to raise the amount we have already pledged."

Image 1 of 1 enlarge this photoNg is confident his plans will not undermine Rangers and Scottish culture. TODAY FILE PHOTO Ng is confident his plans will not undermine Rangers and Scottish culture. TODAY FILE PHOTO

Copyright © MediaCorp Press Ltd

I don't like this.

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Got the tweet:::

Read it from the bottom up bears - Al Lamont on Twitter has been talking to Ng:

.. than to get surprises after we have done our budget."

8m Alasdair Lamont ‏ @BBCAlLamont Reply Retweet Favorite · Open

"Change of rules does affect the finances of the club, but it does not affect our passion. It is better to know the changes early on.

hmmmmm only if liquidated.

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