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Miller’s Gers newco won’t pay penalty - limited sanctions.


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Miller’s Gers newco won’t pay penalty

http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4271590/Millers-Gers-newco-wont-pay-penalty.html?print=yes

TALKS ... Clark

Pic: Keith Campbell

IBROX administrator Paul Clark last night revealed Bill Miller is close to cutting a deal that would see a newco Rangers hit with limited SPL sanctions.

The US tycoon outlined his controversial takeover plans last week.

He immediately suspended his offer until tomorrow — making it clear it hinges on Gers not landing more sporting penalties.

The SPL have refused to comment on Miller’s request for guarantees.

But SunSport understands if the 65-year-old is granted preferred bidder status they’d be happy to enter formal talks. SPL bosses meet on April 30, when they hope their new hard-hitting Financial Fair Play plan is rubber-stamped.

But behind the scenes there are real fears it might not gain enough support.

And that would potentially see a newco Gers emerge virtually sanction-free.

Clark confirmed: “What he’s been doing is speaking to the SFA and SPL.

“I can’t tell you precisely what he’s now doing, even though I do know.

“He’s used words like guarantee. I think ‘comfort’ would be a better word.

“One could liken it to parameters of the measures they could take. I think they are very close if they are not already at that position.

“They are very close with discussions.

“The prospect of it being no measures is, I think, nil.

“But having the parameters of what those measures look like is what he is seeking. I think they are close to agreement.

“Miller is an experienced businessman and he put out a fairly full and open statement of his position.

“I am assuming that even from afar he is doing so for all the right reasons and with the right intentions.”

Many Rangers fans are suspicious over Miller’s mention of an ‘incubator’ company .

The American — who has tabled an £11.2m offer for the stricken Ibrox club — would run Rangers as a fresh entity as the old club attempts to exit administration through a CVA.

If successful, the two would then merge.

Clark said: “The football club would move into a newco entity, of that there should be no doubt.

“The idea then would be, because of what appears to be wrongdoing that has occurred within Rangers, those wrongs can be righted and at a later date he would go through a CVA, bringing the old company back to the new company.”

As SunSport revealed yesterday, the Blue Knights have launched an 11th-hour bid to save Gers from liquidation.

Crunch talks between former Ibrox director Paul Murray and Duff & Phelps are set to continue today.

Clark said: “I had discussions with Paul Murray and others yesterday and some of those discussions went into the evening.

“We’re happy to work with them to put them back in place, if that is what they choose.”

© News Group Newspapers Ltd.

This may come from the Sun, but it does contain solid quotes outlining some of the same points made by Clark in relation to Miller's bid, yesterday on Radio Scotland.

bertibear also posted these two articles from the Telegraph and Scotsman, which cover similar subject matter:

http://forum.rangersmedia.co.uk/index.php?showtopic=217582

http://forum.rangersmedia.co.uk/index.php?showtopic=217581

Both are worth reading for the different takes on the subject and it saves you from clicking to the actual site of both papers. This stops them counting you as visitors to their site and contributing to their advertising revenue. (tu)

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Does a 3 year UEFA ban count as limited sanctions, or has he been given written guarantees/parameters/comfort from them too?

I can't see that one changing for a newco, but you never know.

A "straight forward" CVA is still a better route as far as I'm concerned.

I think you highlight the biggest threat to Rangers under Miller's plan.

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I can't see that one changing for a newco, but you never know.

A "straight forward" CVA is still a better route as far as I'm concerned.

I think you highlight the biggest threat to Rangers under Miller's plan.

Although not even close to ideal, I hope to see TBK announced as preferred bidders on Monday. When that happens they should be releasing the full details of how their bid will progress, along with all those who are behind it.

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Although not even close to ideal, I hope to see TBK announced as preferred bidders on Monday. When that happens they should be releasing the full details of how their bid will progress, along with all those who are behind it.

Being named preferred bidder may well happen tomorrow but a variety of questions remain as to whether a sale can actually be completed over the next 14 days.

Whyte remains a huge obstacle for any bidder. I've yet to be convinced that anyone can do a suitable deal to remove him.

And, as you say, should they secure PB status, I'd hope a lot more info about TBK and their plans is released as so far there's not much to go on at all.

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Although not even close to ideal, I hope to see TBK announced as preferred bidders on Monday. When that happens they should be releasing the full details of how their bid will progress, along with all those who are behind it.

This could end a lot of fears, I think

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Being named preferred bidder may well happen tomorrow but a variety of questions remain as to whether a sale can actually be completed over the next 14 days.

Whyte remains a huge obstacle for any bidder. I've yet to be convinced that anyone can do a suitable deal to remove him.

And, as you say, should they secure PB status, I'd hope a lot more info about TBK and their plans is released as so far there's not much to go on at all.

D&P reckon(I know, I know) that there is a way for Ticketus and Whyte to reach agreement over any deal. Like yourself, I am far from convinced that he will go without a huge pay off, but we'll need to see what can be done. D&P should have had Ticketus and Whyte fully dealt with enabling the bidding process to progress in an altogether smoother manner, but that is water under the bridge now.

It's sad that there may only be one non-liquidation route to go down, but needs must now. Has there been any further comment from your Ng source on why they have 'stepped back'?

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Spot on. I'm sick of the ups and downs, the hopes raised and hopes dashed... It's easier to just expect the worst and I do. We're finished. Paul Daniels couldn't get us out of this mess. It's the perfect storm, Craig Whyte, Ticketus, the tax issues, players all set to leave... Not forgetting the millions in other debts on that grim list. I don't see how a Newco with a prepacked liquidation can even work never mind a cva.

Being named preferred bidder may well happen tomorrow but a variety of questions remain as to whether a sale can actually be completed over the next 14 days.

Whyte remains a huge obstacle for any bidder. I've yet to be convinced that anyone can do a suitable deal to remove him.

And, as you say, should they secure PB status, I'd hope a lot more info about TBK and their plans is released as so far there's not much to go on at all.

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D&P reckon(I know, I know) that there is a way for Ticketus and Whyte to reach agreement over any deal. Like yourself, I am far from convinced that he will go without a huge pay off, but we'll need to see what can be done. D&P should have had Ticketus and Whyte fully dealt with enabling the bidding process to progress in an altogether smoother manner, but that is water under the bridge now.

It's sad that there may only be one non-liquidation route to go down, but needs must now. Has there been any further comment from your Ng source on why they have 'stepped back'?

IMO, if Whyte was as easy to deliver as D&P are saying, a preferred bidder would have been named 10 days ago. The A-P guys stepped back because of the reasons in their media statement. These reasons are genuine and are causing every party much angst.

As I've said elsewhere, I doubt many bears would choose the Miller bid over the TBK one. I certainly don't. A dream team of high net worth bears backed by knowledgeable fans should be all our favourites. Forget Miller, forget Ng and forget some clumsy Hibee. They should be unable to compete. There should be no doubt.

However there remains a lot of uncertainty and it's a shame our rank and file support are still being talked to, instead of talked with.

How about an analysis of the TBK bid? Where does Whyte fit in? What is PM offering him? Will he even deal with TBK? What does CW want? How do Ticketus feature? Will the fans accept CW as part of the club going forward? Are the other bidders really out of the picture?

Clearly there are lots of questions and, yes, it's perhaps unfair to demand TBK answer such questions when any one of the other three bidders could make a similar comeback from stepping back.

Nevertheless I'm still amazed our fan groups seem so keen to pretend there remain a number of concerns apparently unworthy of their attention.

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BTW, as an aside, I think the likelihood of the SPL voting for these changes is pretty low. Turkeys and Christmas springs to mind.

Obviously we'd still be unable to play in Europe so that would be a huge risk to lose out on that for 3 years.

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I can't see that one changing for a newco, but you never know.

A "straight forward" CVA is still a better route as far as I'm concerned.

I think you highlight the biggest threat to Rangers under Miller's plan.

As mentioned elsewhere...........minis view on a cva seems to have a different view as to what a cva is.........whereby a business moves forward with no debt! ............whereas mini will be moving forward with a £10m debt and he has told all and sundry about this. So if I was a creditor then I would be pissed off about this.

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What happens if the one non liquidation group cant do a CVA casey?

I fear they (TBK) are in the same boat as the rest mate

I have no doubts that both bidders could end up taking us to the same place, but Miller is choosing to do it straight off. There is a long, long way to go in all of this and the granting of preferred bidder status, while it may bring some welcome relief, is only the start, not the end as some people appear to think.

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I have no doubts that both bidders could end up taking us to the same place, but Miller is choosing to do it straight off. There is a long, long way to go in all of this and the granting of preferred bidder status, while it may bring some welcome relief, is only the start, not the end as some people appear to think.

Not me.............I said this would run into May weeks ago.

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BTW, as an aside, I think the likelihood of the SPL voting for these changes is pretty low. Turkeys and Christmas springs to mind.

Obviously we'd still be unable to play in Europe so that would be a huge risk to lose out on that for 3 years.

Even if they don't vote these changes in, the current penalty for liquidation is relegation to the SFL, and most likely Division 3, no?

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Even if they don't vote these changes in, the current penalty for liquidation is relegation to the SFL, and most likely Division 3, no?

Not sure mate. I didn't think the SPL had such a penalty but I've not had time to check their rules properly.

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Spot on. I'm sick of the ups and downs, the hopes raised and hopes dashed... It's easier to just expect the worst and I do. We're finished. Paul Daniels couldn't get us out of this mess. It's the perfect storm, Craig Whyte, Ticketus, the tax issues, players all set to leave... Not forgetting the millions in other debts on that grim list. I don't see how a Newco with a prepacked liquidation can even work never mind a cva.

Fuck it. Lets just shut up shop and take up bowls.

Fuck off you papish cunt!

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IMO, if Whyte was as easy to deliver as D&P are saying, a preferred bidder would have been named 10 days ago. The A-P guys stepped back because of the reasons in their media statement. These reasons are genuine and are causing every party much angst.

As I've said elsewhere, I doubt many bears would choose the Miller bid over the TBK one. I certainly don't. A dream team of high net worth bears backed by knowledgeable fans should be all our favourites. Forget Miller, forget Ng and forget some clumsy Hibee. They should be unable to compete. There should be no doubt.

However there remains a lot of uncertainty and it's a shame our rank and file support are still being talked to, instead of talked with.

How about an analysis of the TBK bid? Where does Whyte fit in? What is PM offering him? Will he even deal with TBK? What does CW want? How do Ticketus feature? Will the fans accept CW as part of the club going forward? Are the other bidders really out of the picture?

Clearly there are lots of questions and, yes, it's perhaps unfair to demand TBK answer such questions when any one of the other three bidders could make a similar comeback from stepping back.

Nevertheless I'm still amazed our fan groups seem so keen to pretend there remain a number of concerns apparently unworthy of their attention.

A cva agreement is for a company to move forward with no debts! What mini is proposing is trying to do a cva and move forward with a £10m debt.

Maybe just maybe mini with his link up (and telling the world) has given a position of power to Ticketus that they would not have had otherwise, and actually hampered the administrators position in trying to remove Ticketus.

I know if I was in Ticketus place I would have thought .....hmmmmmmmmmmmmmmmm I have these guys now.

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I, like many found the Miller statement generated more questions than answers. That said why can't TBK lay out their vision of the way forward as Miller did??

Do they have the cash or are they dependent on deals with either Ticketus or Kennedy?

How much cash do they have in their consortium without Ticketus.

How will they handle wee Shyte?

Other than platitudes and media releases I have not found them very forthcoming.

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