Who was Spartacus when Duff & Phelps sold Rangers Football Club? by Ecojon

Craig Whyte’s declaration he was the catalyst behind the Rangers sale to Charles Green shook Ibrox to its foundation and fired my memory into gear. However before dissecting my lonely grey cells let me jog your memory as there are a few twists and turns along the road to liquidation.

Rangers entered administration on 14 February 2012 and after various bidders dropped by the wayside American tycoon Bill Miller  was declared ‘preferred bidder’ for the failed club on 3 May by Rangers administrators Duff & Phelps who were reportedly left ‘stunned’ just five days later when Miller walked away from Ibrox.

Commenting on the withdrawal at the time, administrator David Whitehouse said: ‘Given the fact that Mr Miller did not enter into an exclusivity agreement, we informed all other known potential bidders at the time the door was not closed.

‘As a consequence of Mr Miller’s bid being accepted, three other bidders have come forward to express their interest in buying the club and these offers are being evaluated with the utmost urgency’. I am unclear whether the Sevco offer is included in the trio but the Sevco bid was accepted by the administrator on 14 May.

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Revealed – Craig Whyte’s Master Plan – He Came Up with the “Incubator Company”

The BBC produced an exchange of emails between Craig Whyte and David Grier from February this year regarding the terms for Duff & Phelps to be appointed as administrators. You can find the emails here. I have copied them at the bottom of this page.

The emails are very instructive regarding what Mr Whyte’s plan was back in February.

The tone is business-like but friendly, which is not what one would expect bearing in mind Mr Grier’s contention that he and his colleagues had been misled by Mr Whyte. Clearly they had resolved their differences.

So, let us go back to February. On the evening of Saturday 11^th, after Rangers had returned from Dunfermline where they had achieved a 4-1 victory, Mr Whyte emailed Mr Grier. This was in reply to a proposal regarding, amongst various matters, fees for the administration of Rangers.

Mr Whyte first of all asked that the proposal be addressed to the Rangers FC Group Ltd. This was agreed by Mr Grier.

On 14^th February when the administrators were appointed, this was at the instance of the company, Rangers Football Club PLC. It was not at the instance of Rangers FC Group Ltd, although as apparent floating charge holders that company could have appointed an administrator.

Charles Green’s Statement Tonight Regarding Rangers’ Appeal – Words Fail Me (Not Really)

Mr Green, who is the man in pole position to take over the running of Rangers, has issued a statement tonight. As it follows on from my last couple of posts, I thought I would offer some commentary on it.

With the greatest of respect to Mr Green, I think his statement tonight is nonsense. He mis-states some of the effects of Lord Glennie’s decision; he talks about wanting a speedy resolution, whilst at the same time flagging up various reasons for delay; he repeats the “received wisdom” that as the people responsible for the “misdeeds” as he calls them are no longer there at Ibrox, this should temper the sanction imposed, notwithstanding that Rangers benefited from those same “misdeeds”; and he cites the good of Scottish football as reasons for a reduced penalty, whilst grossly overstating the importance of Rangers’ position in the Scottish Cup.

As is usual, my thoughts are noted in bold where relevant.

Take it away Mr Green!

More Duff and Phelps Analysis – Confusion Reigns – Guest Post by Den

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!

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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.

Rangers Mission Impossible – Administrators To Do Deal by Tomorrow

 

In this piece, I point out that I am mildly sceptical of D&P’s plans to choose a bidder by lunchtime today and conclude a deal by the end of the season. And also can you guess which football team the UK end of D&P reminds me of?

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The saga continues. Yesterday D&P gave us more detail about the new bidders for Rangers. I have taken their two statements, and have commented, as usual, in bold.

The pieces below are from Rangers.co.uk, so the parts of the articles which are not quotes can still be taken as official Rangers comment. Both of the main articles were posted on the website on Wednesday 9^th May.