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Duff and Phelps - statement tonight


54andcounting
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DUFF AND PHELPS, the administrators of Rangers Football Club, issued the following statement tonight.

Paul Clark, joint administrator, said: "At the end of a frustrating week we'd like to provide an update to the fans regarding the bidding process.

"It should be reiterated, however, that no unconditional bid has been tabled by any party.

"There have been a number of complicating factors in recent weeks, not least the cloud of possible further SPL sanctions against the Club and the withdrawal of one of the parties last week when it emerged they had no formal agreements in place with their partners.

"This, combined with uncertainty regarding the role of Ticketus in any future ownership, has led to delays that we and all Rangers supporters would prefer not to have occurred.

"Let me be clear - we could not have moved more quickly during the past week as there was not a bid capable of acceptance.

"Despite suggestions to the contrary, it is not a case of the administrators refusing to nail down their choice - we can only accept a bid that is unequivocal.

"Today, we have seen the Singapore consortium led by Mr Bill Ng issue a statement announcing withdrawal from the process whilst indicating the possibility of launching a bid again at a later time.

"This has been reflective of the changing position of bidders.

"We have also read the statement by Mr Bill Miller that sets out a vision for the club, but acknowledges it as being dependent on possible SPL sanctions.

"We can however say that if these issues could be addressed the structure of the bid has potential.

"As things stand tonight, the Blue Knights have informed us they are in discussion with Ticketus.

"We will consider what progress they are making with a view to making a final decision at the beginning of next week.

"We realise the frustrations of the Rangers fans who want this process to come to a swift conclusion.

"In Rangers' case, we have been in administration just more than two months. A lot has been achieved during this time and in comparison to other British football clubs that have entered into administration, it has still been a relatively short spell that we have spent in administration so far.

"However, not every club in administration will have had to deal with the complex issues that Rangers face - the present owner, Ticketus and sanctions from football authorities.

"Unfortunately, we cannot wave a magic wand and make these issues go away. Even beyond our role, the strategy of each bidder in addressing these matters is of vital importance.

"Ally McCoist spoke at his press conference today about the need to build for next season - we are keen to see this happen as soon as possible.

"We are well aware of the problems that sustained delays may have upon the management and the team.

"The team have been tremendous during this difficult time, as has the wonderful support of the fans.

"We would ask the fans to remain patient for a few more days. Discussions will continue over the weekend and we will have an update as soon as there are notable developments."

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FOR FUCK SAKE, that is not what they said on stv news, i can't remember what one it was, clark i think sais the miller bid was acceptable and if no one bettered it by monday then miller would be named as the prefered bidder, now they're trying to shift the fucking goal post already

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good luck to them getting an unconditional bid.

Well, that's a major problem that the bidders must accept. And the SPL. If we don't get an agreement, liquidation follows.

And if liquidation follows prior to the SPL meeting on the 30th, the current rules are that go to division 3. Without passing go.

SPL TV deal collapses, SPL away attendances take a massive hit, other SPL sponsorships collapse, their competition becomes a non-event until our guaranteed return. The SPL will lose millions. Probably enough to push more clubs over the financial edge.

Miller spelt out enough of the realities to the SPL when asking for conditions that eradicate more penalties than we have already suffered.

Will the SPL walk on the side of the economic realities or will they stick to their - ha fucking ha - principles.

We'll know very soon now.

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Out of curiousity how much have Duff and Phelps racked in from us in fees etc?

If murray and whyte had not taken our club to this position, there would be no fees for them and they take their money from the pot, after being agreed by the creditors and of they object at the fee they can ask the court to look a their bill.

Madina they are getting paid a going rate fro doing a job.

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well it's clear to me Bill Miller is asking will the SPL hold him as the new owner Accountable for the previous owners mistakes and Breaches, if he did it before there new rules how can they ? because we would be out of Administration and legally his rangers are a seperate company to the old one, so can they punish us for previous owners breaches, if he was to get Whyte, Ticketus and Hmrc to agree that his rangers are seperate from the old one but still 'rangers' how can they punish us

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