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Rangers: For Sale (Again)!


Frankie
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With Charles Green finally completing the purchase of the club yesterday for around £5.5million, our fans would be forgiven for thinking the ownership issue was over. Yes, the oldco has been liquidated but surely we could not finally move on under the (very slightly different) newco name?

Not so! At the 11th hour, a new bid appeared from familiar names such as Jim McColl and Douglas Park, headed by the ultimate club figurehead of Walter Smith. They intended to takeover the newco deal at the last possible minute but, as it turned out, were too late?

Again, not so! Essentially, what we now have is an auction for the club. Although, they won’t be held to ransom, the McColl group will now look to buy the newco (and its assets) from Charles Green and his investors. Moreover, parties previously involved in the biding process – including the Asian-Pacific consortium headed by Bill Ng – will (and have) renewed their interested. We now have a bidding war and money talks!

Of course this will suit Charles Green. Throughout his ownership bid, he has struggled for funding. He approached a variety of people including Douglas Park and Jim McColl but failed to convince anyone substantial to get involved. Indeed, it was this lack of funding power and an often less than convincing approach to detail which has meant the fans, though fatigued by this saga, were never fully welcoming of him.

In that respect, Green perhaps deserves some sympathy. Despite the negative press and the crossed arm body language from our fans, he persevered and he did buy the club – albeit via the less attractive newco route. For that, many fans are prepared to give him the benefit of the doubt and these same supporters won’t be enthused by the belated actions of the McColl bidders. Why leave it so late?

However, despite fulfilling his promises, Green still doesn’t convince. In his opening statement as CEO yesterday, he mentioned Ian Hart as being one of his backers. Not true, says Hart. That’s a huge worry if Green can’t even rely on people he thinks are backing him. Meanwhile, the other names in his list are relative unknowns which, after the nonsense of the Whyte ‘era’, our fans may struggle to buy into.

To that end, large sections of the support are already (and understandably) gravitating to the McColl bid. The familiarity discussed earlier means fans are more comfortable with names they recognise and business backgrounds more easily scrutinised. This overwhelming goodwill means this new bid will be backed by many and the supporter groups are already speaking of season ticket boycotts to pressure Green into ‘stepping aside’.

However, this shouldn’t automatically mean McColl et al are not subject to the same questions and constructive criticism other parties have had. Rightly, fans have had concerns over a variety of people involved in this process and this new ‘fan favourite’ bid should receive the same close attention despite, and indeed, perhaps because of the names that will be associated.

For example, HMRC via BDO are about to begin an investigation into the previous directors of the oldco. People like Paul Murray, Alistair Johnston and Martin Bain may not have anything to hide but they are tainted with the failure of the old company. In addition, outstanding inquiries into tax avoidance schemes and alleged dual contracts, means we can ill afford the newco’s reputation, time and money to be faulted down the line. Thus, I think it’s fair to ask Jim McColl and Dougie Park just who is involved in their group, what their plans are for the club and how they intending funding it? Provide that and they’re arguably home and dry. Do not and other bidders will fancy their chances while Green will be less easy to deal with.

Generally speaking, I think most fans’ default position will be to support the ‘new’ Blue Knights. At a push, despite being neutral throughout this whole farce, I’d have to agree with that. Nevertheless, as the bidding war starts for the club, I also think our support would be well advised to keep their eyes open and approach all bids with caution.

Remember, we are about to spend around £15million on season tickets and will be asked to contribute to a share issue under both Green and McColl. That means we hold immense power and we need to start using it more productively than we have been. Our annual ticket investment funds the club – we deserve a say in where this money goes and how it is used.

Finally, the club has now effectively been sold twice over the last year. It’s about to be sold for a third time – possibly as quickly as next week but certainly before the start of the new season in August. Let’s ensure it’s sold to the right people this time!

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you think WS and co will offer what green and co. want?

talk of 20 mil in todays papers, which fora debt free Rangers seems like a bargain IMHO.

I'd fancy Green will sell for a lot less than that.

The pressure on him is already high and will only get higher.

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Reading this place , walter is a liar, mcoll isn't putting in any money and they aren't real rangers men anyway as they didn't propose a CVA...so sadly the 3rd sale deosn't sound like it is going to the right people either.... :disappointment:

Not sure who the crackpots want..... <cr>

:craphead:

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I'd fancy Green will sell for a lot less than that.

The pressure on him is already high and will only get higher.

yeah, i was thinking that 15 would probably sew it up nicely in a bow.

interesting times ahead, this type of debate is so much better than "will we survive"

I am just glad that the debt is behind us now and we can move ahead, whichever direction it may be in.

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I'd fancy Green will sell for a lot less than that.

The pressure on him is already high and will only get higher.

I agree with you there Frankie, as I posted yesterday Green and his consortium are out of pocket £5.5m for the purchase and most probably around £1-1.5m for fees so far, I think Rangers could be bought for around 12m, it would be nice if the Smith/Park McColl consortium could get it for £7.5m-£8m, this means there maybe more money available to the Club. Just depends on Green if he really wants to sell up!!

Heresay I know but just my opinion

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Reading this place , walter is a liar, mcoll isn't putting in any money and they aren't real rangers men anyway as they didn't propose a CVA...so sadly the 3rd sale deosn't sound like it is going to the right people either.... :disappointment:

Not sure who the crackpots want..... wacko.gif

Don't forget that Ally is apparently being manipulated by TBK (who are apparently behind this bid, and are also duping Walter into fronting it, never mind that it's clear to all that TBK are not involved)

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Like most, the mention of Walter coming in got me exited, I don't hold anything against Green (yet) but if the stories of him apparently forcing out McCoist - which was passed to McCoist by an ex-board member is true, then that does it for me.

We need transparency and trust after the Whyte fiasco. If Green cant give that then we need to force his hand.

The share issue is an interesting one, he wants to palm off suggestions of selling from the fans but he wants us to pile money in via season tickets and a share option, well we need to pre-emptively use that to drive through message and make him seriously look towards selling to Walters group.

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cant see him taking less than 15 mill, why would he go to all this trouble and take 10 mill nae chance, plus he would now have to end contracts thats gonnae cost money, weres the proof green dont have cash yet again hearsay, i pray walter is back one way or another i'm also happy to support green if he shows he has cash the people he has on board are not idiots zeus are massive in the banking world and new murray is well known in football to other directors

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With Charles Green finally completing the purchase of the club yesterday for around £5.5million, our fans would be forgiven for thinking the ownership issue was over. Yes, the oldco has been liquidated but surely we could not finally move on under the (very slightly different) newco name?

Not so! At the 11th hour, a new bid appeared from familiar names such as Jim McColl and Douglas Park, headed by the ultimate club figurehead of Walter Smith. They intended to takeover the newco deal at the last possible minute but, as it turned out, were too late?

Again, not so! Essentially, what we now have is an auction for the club. Although, they won't be held to ransom, the McColl group will now look to buy the newco (and its assets) from Charles Green and his investors. Moreover, parties previously involved in the biding process – including the Asian-Pacific consortium headed by Bill Ng – will (and have) renewed their interested. We now have a bidding war and money talks!

Of course this will suit Charles Green. Throughout his ownership bid, he has struggled for funding. He approached a variety of people including Douglas Park and Jim McColl but failed to convince anyone substantial to get involved. Indeed, it was this lack of funding power and an often less than convincing approach to detail which has meant the fans, though fatigued by this saga, were never fully welcoming of him.

In that respect, Green perhaps deserves some sympathy. Despite the negative press and the crossed arm body language from our fans, he persevered and he did buy the club – albeit via the less attractive newco route. For that, many fans are prepared to give him the benefit of the doubt and these same supporters won't be enthused by the belated actions of the McColl bidders. Why leave it so late?

However, despite fulfilling his promises, Green still doesn't convince. In his opening statement as CEO yesterday, he mentioned Ian Hart as being one of his backers. Not true, says Hart. That's a huge worry if Green can't even rely on people he thinks are backing him. Meanwhile, the other names in his list are relative unknowns which, after the nonsense of the Whyte 'era', our fans may struggle to buy into.

To that end, large sections of the support are already (and understandably) gravitating to the McColl bid. The familiarity discussed earlier means fans are more comfortable with names they recognise and business backgrounds more easily scrutinised. This overwhelming goodwill means this new bid will be backed by many and the supporter groups are already speaking of season ticket boycotts to pressure Green into 'stepping aside'.

However, this shouldn't automatically mean McColl et al are not subject to the same questions and constructive criticism other parties have had. Rightly, fans have had concerns over a variety of people involved in this process and this new 'fan favourite' bid should receive the same close attention despite, and indeed, perhaps because of the names that will be associated.

For example, HMRC via BDO are about to begin an investigation into the previous directors of the oldco. People like Paul Murray, Alistair Johnston and Martin Bain may not have anything to hide but they are tainted with the failure of the old company. In addition, outstanding inquiries into tax avoidance schemes and alleged dual contracts, means we can ill afford the newco's reputation, time and money to be faulted down the line. Thus, I think it's fair to ask Jim McColl and Dougie Park just who is involved in their group, what their plans are for the club and how they intending funding it? Provide that and they're arguably home and dry. Do not and other bidders will fancy their chances while Green will be less easy to deal with.

Generally speaking, I think most fans' default position will be to support the 'new' Blue Knights. At a push, despite being neutral throughout this whole farce, I'd have to agree with that. Nevertheless, as the bidding war starts for the club, I also think our support would be well advised to keep their eyes open and approach all bids with caution.

Remember, we are about to spend around £15million on season tickets and will be asked to contribute to a share issue under both Green and McColl. That means we hold immense power and we need to start using it more productively than we have been. Our annual ticket investment funds the club – we deserve a say in where this money goes and how it is used.

Finally, the club has now effectively been sold twice over the last year. It's about to be sold for a third time – possibly as quickly as next week but certainly before the start of the new season in August. Let's ensure it's sold to the right people this time!

Having carried out business with Zeus Capital I can say they are a very good company and also look at the background to Malcom Murray, yes Green wants a profit that is the nature of being in business.........we have said for years we need this part to the club to be run like a business, so...........................................................

I like every other Rangers fan want this sorted out for the Company and the Club to move onwards and upwards............do we know what plans McColl and co have planned , should we not be told this from the off, the phrase used yesterday.was that they McColl and co funding the acquisition, but no mention of future funding , so is it a share issue (most likely, the use of season books for running costs as they should be used for) Yet we are being told from that man in the know leggo that green is busting a gut to get the share issue money and season money in.........................now surely this is what McColl and co would also be doing .......or is leggo alledging that Green will run away with the season ticket money and the share issue money..that is for others to say not me f that is what he is saying.

Who can say hand on heart that they know everything about McColls offer and funding as they can say about Greens..................................?

All I want is mentioned above is the Company and the Club to move onwards and upwards and everyone has the right to ask questions rather than .it's Walter lets all rally round the flag boys. Green is sitting pretty just now and has to be offered a figure that makes him want to sell, which to a man we would all be looking for that if we took a debt ridden business and suddenly owned a debt free version.

Not buying season books............will it force Green out , we had better hope that it does if not the club will be back in the grubber very quickly.

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yeah, i was thinking that 15 would probably sew it up nicely in a bow.

interesting times ahead, this type of debate is so much better than "will we survive"

I am just glad that the debt is behind us now and we can move ahead, whichever direction it may be in.

The vindictive campaign will intensify. Many battles ahead to be fought with SFA, media et al.

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Think we can expect a few new parties showing up now there is a chance to buy a debt free club of the stature of Rangers.

I just hope that this time we get the right business men, not just Rangers men, to ensure we are ran properly and we never see anything near to this mess ever again.

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Good read Frankie, agree with pretty much all of it. I don't think you should saddle McColl, Park and Walter with the 'new Blue Knights' tag though, that is going to be a bone of contention with a lot of people...

Is there any word of involvement from Paul Murray? I've not heard any, curious to hear if you have. If no PM, I don't think the Blue Knights tag should be transferred (newco Blue Knights? :craphead: ).

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Good read Frankie, agree with pretty much all of it. I don't think you should saddle McColl, Park and Walter with the 'new Blue Knights' tag though, that is going to be a bone of contention with a lot of people...

Is there any word of involvement from Paul Murray? I've not heard any, curious to hear if you have. If no PM, I don't think the Blue Knights tag should be transferred (newco Blue Knights? :craphead: ).

I don't know if PM is involved and I just used the new TBK because I didn't want to type McColl etc again... :D

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The best part someone has bought the club and done everything he has said he would so far and all because Walter has come over the hill with a consortium Green is no longer the guy to take us forward.

Green was the ONLY person who was willing to go in and make the difficult decisions, we all know Walter wouldn't have wanted to be the one to take us down the liquidation route. Green has set up the new co, announced what seems like a very astute appointment in both the Chairman and the other positions so far and is on his way to organising our recovery.

While I agree Frankie he is under pressure but he is a businessman at the end of the day and people who think he will just 'step aside' or 'walk away' will be in for a shock as I can't see a bid coming in at the acceptable value to buy the club. With around £10 million spent from the consortium already (been banded about) then it will take a high price to yield a nice return for him and his consortium.

Despite everything he has done so far people still want to put pressure on the guy instead of backing him. What is everyone going to do if Walter's consortium doesn't come up with an acceptable fee? Harm the club even more by refusing to buy Season Tickets etc simply due to the fact they couldn't come up with the goods ala TBK. It's a total joke of a situation and this public showing at the moment is helping nobody.

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