BK and TBK Joint Bid

[Buzz 306]

These are obstacles any bidder would have to overcome. With regards to PB status, it is unconditional.

[northumberlandloyal 17]

I think this could well be the last throw of the dice hope to hell its a six

[Swagger 8,243]

SSN now

[Blondie7 24]

These are obstacles any bidder would have to overcome. With regards to PB status, it is unconditional.

[southcoastbear 1,639]

Think getting shytes shares may prove more difficult than CVA after his statement he wants to hold onto 25% of shares. He cant be playing with a full deck if he thinks anyone will stand for that.

[Swagger 8,243]

BK and Kennedy together. No liquidation and conditional offer based on CVA and getting Whytes shares

[ClintonGrey 365]

http://forum.rangersmedia.co.uk/index.php?showtopic=218303

[Chesh 28]

Just caught the las t sentance what was said?

[haggismuncher 55]

Damn i'm at work, anything else

[rossDas 1,071]

Fingers crossed administrators will deem this acceptable.

[Non_Sucumbi 876]

SSN now

Thought Ally handled it very well again.

[TheFarmer 260]

Liquidation and Newco not an option for this bid.

Would mean no 'Newco sanctions' (i.e. Europe for 3 years, and any sanctions agrees on the SPL meeting on April 30th)

Would mean remaining in the SPL (no division 3)

Would still mean no European football next season but that's the least of our worries.

Would be a massive GIRFUY to the rest of Scottish football trying to kill us off.

Hopefully we would be able to get the SFA ruling overturned/reduced on appeal.

We can all only cross our fingers and hope TBK / BK can pull this off

[Swagger 8,243]

Just caught bits of it but as said conditional on the basis they get CVA and get hold of Whytes shares

[boss 1,941]

Hardly unconditional.

Agreed, but D&P did correct themselves later that day to an offer with "minimal conditions", of which CVA was always one, that was "capable of being accepted".

[TheFarmer 260]

Think getting shytes shares may prove more difficult than CVA after his statement he wants to hold onto 25% of shares. He cant be playing with a full deck if he thinks anyone will stand for that.

If its between him having 25% of the shares and us not agreeing a CVA I know which one id prefer.

Obviously we'd rather him out the picture though.

Whatever share he has, as long as TBK have more than 50% were sorted.

We can dilute his share holding even further in the share issue following a TBK takeover.

[RFC55 109,655]

Seems like someone (the op) may be worried about a large consignment of jelly and ice cream he's purchased

[3Proddie1690 132]

Don't see the CVA as an issue tbh, creditors will much rather get something back rather than nothing at all. Shyte's shares are the issue tho, can't understand why the bhoy won't just give them up and at least TRY and do the decent thing for once..

[rangersross 6,538]

Obstacles remain in our way but it's certainly progress. Also, unless I've completely misunderstood it, cause for some measure of celebration. It's Friday: I'll shortly be drinking to Rangers' (gradually improving) health!

[gunslinger 270]

I want to take this opportunity to apoligise to Gunslinger, if it turns out that he has been correct about TBK all along.

I'm not too arrogant to do so.

I still don't like you posting shite from the Rhecord though.

needent appologise to me mate.

I'm confident I'm right

[haggismuncher 55]

So just waiting on administrators to accept it then, God how long is that gonna take

[JCDBigBear 10,831]

If its between him having 25% of the shares and us not agreeing a CVA I know which one id prefer.

Obviously we'd rather him out the picture though.

Whatever share he has, as long as TBK have more than 50% were sorted.

We can dilute his share holding even further in the share issue following a TBK takeover.

Whyte could be taken to court at a later date after the deal goes through. He obtained the shares by lies, deceit, fraud and should not profit by one cent from this deal.

[54andcounting 627]

Blue Knights and Brian Kennedy submit conditional bid for crisis-hit Rangers

The offer is subject to a company voluntary agreement being agreed and Craig Whyte selling the group his shares.

By Mike Farrell

27 April 2012 15:52 GMT

Comment

Rangers: The conditional bid for the club was submitted on Friday afternoon.

The Blue Knights consortium and Scots rugby club owner Brian Kennedy have submitted a conditional takeover bid for Rangers.

According to a statement released by the pair on Friday afternoon, the offer is subject to a company voluntary agreement (CVA) being agreed among the Ibrox club’s many creditors.

The new bid is also conditional on Craig Whyte’s shares being acquired, the group confirmed in a statement.

Earlier in the day London agency Ticketus confirmed it had withdrawn its financial backing of the Blue Knights consortium, citing the increasing complexity of the financial mess at Rangers being a barrier to it.

In a joint statement, the frontman of the Blue Knights group, former Rangers director Paul Murray, and Mr Kennedy, who owns Sale Sharks Rugby Union Club, said: "We are pleased to announce that the Blue Knights, led by Paul Murray and Brian Kennedy have joined forces and at 3pm today have submitted a written offer to the lawyers of the administrators to purchase Rangers Football Club.

"This offer we consider to be substantial and is conditional on a CVA being approved by the creditors, and Mr Whyte’s shares being acquired.

"We hope this is accepted so that we may proceed with due diligence forthwith and make a start to the task of re-building Rangers Football Club of 1872."

Mr Kennedy has previously had two bids rejected while the finance behind the Blue Knights, aside from Ticketus when it was involved, has never been clarified.

The other bidder still in the running is American tow-truck business owner Bill Miller who has offered £11.2m for the club’s assets to be sold to a new company, which would most likely result in the old one being liquidated.

Ticketus, which struck a £25.3m deal with Mr Whyte for 100,000 Ibrox season tickets, will most likely now become a creditor of the company to the tune of £27m if that agreement is now torn up should it not be part of any takeover bid. The London agency has so far been paid £8m by Rangers for the deal, while it also struck a similar one with Sir David Murray for Ibrox season tickets in 2009.

[gunslinger 270]

I know people who won't go back to ibrox if whyte retains a shareholding.

the players may also be able to walk.

[TheFarmer 260]

Whyte could be taken to court at a later date after the deal goes through. He obtained the shares by lies, deceit, fraud and should not profit by one cent from this deal.

As long as we get ahold of 51% of the shares from him we can go after the rest another time.

[JCDBigBear 10,831]

As long as we get ahold of 51% of the shares from him we can go after the rest another time.

That's my point. It will be very interesting to see what happens when the court case starts in October. Collyer Bristow, Withey and Whyte, the Unholy Trinity.