Den has been kind enough to review an article from last night with some scintillating quotes from Duff & Phelps. If a week is a long time in politics, 24 hours is a lifetime in the affairs of Rangers.
However, other matters need to be attended to before I offer my thoughts on the Judicial Panel report (all 63 pages of it).
For now, Den will take you back to the long lost days when everything looked positive for Rangers and the Blue Knights were still in the game…ie yestyerday!
I was taken by this piece last night.
Former Rangers manager Graeme Souness says he has not been contacted about being part of a takeover bid for the club – and that he is not interested.
With all the disinformation we have been fed I expect to see Graeme outside Ibrox being applauded by the fans before the end of the season. I expect that the season will last beyond Sunday, possible into next season.
Sale Sharks owner Brian Kennedy remains involved in the bidding process.
However, his is not one of the three bidders who have had detailed discussions with the administrator after American trucking tycoon Bill Miller withdrew his offer.
“There is a Rangers connection there. These bidders are in a position where they are well known”
“These bidders are in a position where they are well known”: but completely anonymous.
The Far East consortium led by Singapore businessman Bill Ng has returned to the negotiating table after having a previous offer rejected.
But joint administrator David Whitehouse revealed that the two other groups are new to the process and have connections to the Glasgow club.
“They are known names in both football and also within the Scottish community,” Whitehouse told newspapers.
Known names are preferable to unknown names: does anyone know who they are ?
“Brian Kennedy is what I would describe as the fourth bid.”
With you so far.
Having had his own bid rejected early in the process, Kennedy aligned himself with the Blue Knights consortium led by former Rangers director Paul Murray.
Kennedy then urged support for Miller’s offer once the trucking tycoon was named preferred bidder but appeared to leave his options open to become involved again by having discussions with Craig Whyte about the transfer of the owner’s shares.
The two fresh bidders, according to the administrator, now have an agreement in place with Whyte, who bought the club for £1 from Sir David Murray a year ago.
Kennedy will be on the winning bid if there is one.
“To our knowledge, there are written agreements in place with two of the bidders to transfer his shares,” said Whitehouse.
“People say he is selling his shares, but he is doing that for a nominal consideration of a pound.
“Craig Whyte is not going to benefit from this process.”
To our knowledge is a bit ambiguous, have they seen the document or just been told, I can’t see him settling for just his money back especially if Ticketus can go after him for his guarantees.
Speculation has also linked former Rangers manager Walter Smith with being part of interested consortia, but Whitehouse insisted the bidders wished to remain anonymous for now.
“We’ve had some quite detailed discussions with three of the four bidders,” said the joint administrator.
Three or four; surely you know how many !
“They are very real bidders and, although two of them are very late to the table, they are actually very advanced in their thought process, well-engaged with advisors and well-funded.
Very real bidders as opposed to, just real bidder or just plain bidders ?
“They would be – I believe – popular with fans. Both bids.
“There is certainly a more natural empathy with the club than Bill Miller had.
Bill was your choice after a long bidding process. Granted had little empathy either natural or synthetic.
“There is a Rangers connection there. They want anonymity, but that will break in the next 24 to 48 hours.
“These bidders are in a position where they are well known and, if they put their heads above the parapet, there will be a crescendo of interest and support and they don’t want that yet.
“They will only do so if they are in a position of likely success.”
Remember the creditors, the inconvenient people in whose interests you are working.
Meanwhile, Ng has been quoted in The Straits Times confirming he was asked to return to the bidding process after Miller decided to withdraw
I am less and less convinced by D&P. Their communication is not precise or factual enough.
The Administrators have failed to tackle the cost side of the equation and took far too long to negotiate the wage holiday. The bidding process was long and from the outside looked shambolic. Three bidders emerge at the last minute and the process starts over again.
I guess the winner will be announced imminently and all necessary registrations, transfers approvals, contract novations etc. will be done by Sunday. Doesn’t leave any time for review and scrutiny, not a good process.
This was interesting coming from Brian Kennedy !
Whitehouse rejected former Rangers director Paul Murray’s assertion that the consortium had been told their offer met the demands of the bidding process.
“For David Whitehouse to say otherwise is a slur on the character of Paul Murray,” Sale Sharks owner Kennedy told BBC Scotland. “Paul doesn’t tell lies.
Posted by Den