ian1964

May 12 2012 Exclusive by John Ferguson & Chris Roberts THE man in pole position to buy Rangers has had business dealings with a finance firm connected to Craig Whyte. Charles Green struck a £30million â??tax efficient investmentâ? deal with Close Brothers in 2000 through his own financial services company, Kingsbridge Holdings. Earlier this year we revealed Whyte sold £2m of future earnings from matchday catering at Ibrox to Close Brothers to pay lease of kitchen equipment. Green, 59, has had a chequered commercial past, having been involved in dozens of businesses from football to finance, property and pharmaceuticals and property. He was forced out his job as chief executive at Sheffield United by fans in 1998 after selling off star men. Little is known about the rest of Greenâ??s consortium but it is understood there are links to Singapore. Green said: â??None of the consortium or myself are doing this for personal gratification and thatâ??s why it has been low key.â? http://www.dailyrecord.co.uk/2012/05/12/rangers-in-crisis-new-bidder-charles-green-had-dealings-financial-firm-linked-to-craig-whyte-86908-23856464/

Dave Swanton ‏ @SwannyMediaMan After D and P statement BK organising statement from his lawyer with full details of bid. Will then circulate to show BK total transparency Retweeted by Frankie

RANGERS administrators Duff and Phelps have released the following statement. David Whitehouse, joint administrator, said: "The most important information today for Rangers supporters is that discussions with two bidding parties are at a very advanced stage and we hope to reach agreement with one at the earliest opportunity. "We have noted today the publication of reasons for the findings of the SFA's judicial panel. "We welcome the fact that the panel described the witnesses who appeared on behalf of the Club at the hearing as credible and reliable but as stated previously we were very disappointed that the panel did not differentiate sufficiently between the actions of the Club compared with the actions of individuals. We look forward to the appeal being heard next week. "It is most unusual for us to comment publicly on individual bids but due to the allegations made by Mr Kennedy and Mr Murray today with the regard to our conduct as administrators we feel compelled to reveal important facts in relation to the various Blue Knights attempts to buy the Club. "For the avoidance of doubt some of the comments made at today's press conference were grossly misleading. "First I would state unequivocally, that every opportunity was afforded to these parties. "The fundamental reason we could not proceed with the Blue Knights/Ticketus combination was that we were advised there was not agreement within the consortium in relation to the funding of their bid. "Throughout the process Mr Kennedy told us repeatedly he would be the 'last man standing'. As Mr Kennedy today made a virtue of explaining publicly details of his bid we are in a position to comment on those remarks. Of the £5.5 million cash on 'day one' figure Mr Kennedy quoted, £3.5 million of that would be provided by us in any case from the Club's debtors. "The bid structure also factors in performance in Europe, and reaching the later stages of the UEFA Champions League which cannot be achieved next season for example. "We therefore find it extraordinary and very disappointing that Mr Kennedy in particular should assert that the amount being offered is irrelevant. Time and again he and others have been afforded the opportunity to become the best bid in play and it has not happened. We have a statutory duty to accept the best bid that is deliverable. "The bid should also be commercially better than the liquidation of the business. Mr Miller's bid was deliverable but he chose not to proceed. We firmly believe the best interests of the Club would be served by all involved in the process respecting the bidding process."

Chris McLaughlin‏@BBCchrismclaug #Rangers administrators release statement hitting back at Brian Kennedy/Blue Knights. say some comments grossly misleading.

Chris McLaughlin‏@BBCchrismclaug #Rangers administrators release statement hitting back at Brian Kennedy/Blue Knights. say some comments grossly misleading.

Alasdair Lamont‏@BBCAlLamont Ticketus officially launches legal claim against Craig Whyte, Rangers FC Group and Liberty Capital

Sky interview with Kennedy http://www.skysports.com/video/inline/0,,16482,00.html

Neil Lennon has said that he thinks that making public the names of the SFA panel who will hear Rangersâ?? disciplinary appeal is the wrong decision. The governing body announced on Friday that Rt Honourable Lord Carloway (Chair), Craig Graham and Allan Cowan will hear Rangersâ?? appeal against a registration embargo and fine imposed on the club last month for rule breaches under Craig Whyteâ??s stewardship. Rangers manager Ally McCoist said that the names of the panel who passed the original ruling should have been made public in the name of transparency and the identities of the individuals involved were leaked. Lennon has said that he thinks naming the panel can lead to unnecessary pressure and is not in the best interests of the game. "I think it is grossly unfair,â? the Celtic manager said. â??These people do it voluntarily, they do it because they love the game, and do it for the right reasons. "I don't think there is any need but there you go, that's the decision the SFA have made, so you need to go and ask them why they have done that. "I just think it puts extra pressure on these people and they are under enough pressure as it is." Rangersâ?? appeal will be heard at Hampden on May 16. http://sport.stv.tv/football/clubs/celtic/99379-neil-lennon-decision-to-name-sfa-appeals-tribunal-is-grossly-unfair/

The Blue Knights have withdrawn their bid to buy Rangers saying time has run out to secure a Company Voluntary Arrangement (CVA). Former Ibrox director Paul Murray told a media conference they had failed after weeks of negotiations. Rangers manager Ally McCoist earlier said that administrators had told him they were "very close" to naming a preferred bidder. Sale Sharks owner Brian Kennedy later valued their final bid at £11m and revealed they had lined up former managers Walter Smith and Graeme Souness to join a football board of the club. The Knights were offered preferred bidder status several weeks ago but potential partners Ticketus would not pay the £500,000 exclusivity fee. After joining with Mr Kennedy and without Ticketus, the consortium was then beaten to preferred bidder status by American Bill Miller, who subsequently withdrew. Mr Kennedy issued a Friday noon ultimatum to administrators Duff and Phelps on Thursday evening but the race to assume control appears to have been won by a consortium with previous experience of running football clubs in England. Mr Murray explained they felt they had no option but to withdraw after fearing their chances of securing a CVA had passed. He said: "We see the only way forward for the club is to effect a CVA and unfortunately time has run out. There is no time left to effect a successful CVA and to exit the club in a healthy capacity from that process. We told Duff and Phelps that on a number of occasions. "The process has gone on far, far too long for various reasons. We told them last night they had until midday today to come back to us. They came back and wanted more time. They claim to have another interested party." Mr Murray added: "We said we hoped they have made the right choice. We really hope this time they have got it right because if they haven't the future is pretty bleak." Mr Kennedy added: "The administrators better have somebody good, some good credible consortium who is fully funded. This is not about us owning Rangers Football Club. It's about Rangers Football Club surviving. I'd be delighted if Duff and Phelps are able to pull one out of the hat and come up with a fantastic bidder. I fear they may not be able to do that." The Blue Knights' bid was previously conditional on acquiring Craig Whyte's 85% shareholding and he spent three hours with the former chairman at his Granton-on-Spey Castle yesterday. "He wants Rangers to survive and agreed to give me his shares," Mr Kennedy said. Both accused Duff and Phelps of "spin" and questioned why a group with close connections to the club had been overlooked. "Quite frankly there has been a lot of misinformation and spin created in this process," Mr Murray said. "The people involved here all have Rangers' interests at heart. This is not a way to make your fortune. I find it perplexing that Duff and Phelps actually go about to try to question why we are doing things and misrepresent us. I find that bizarre." Mr Kennedy and Mr Murray both fear the English-based consortium, news of which emerged after Mr Miller withdrew on Tuesday, could now pull out next week. Mr Kennedy stressed their legal team told them that time had run out to effect a CVA in time to come out of administration before next season. Mr Murray added: "The very fact they have come to the party at the last minute just doesn't seem right to me." A full replay of the media conference will be available shortly. http://local.stv.tv/glasgow/99357-rangers-crisis-blue-knights-and-brian-kennedy-withdraw-bid-for-club/

That's the way I interpreted what Kennedy said. He said D&P are fucking them about

It's time the Rangers fans told the two muppets to get their fingers oot their erses!!!

Murray also said if CW didn't want him near a deal,or wasn't willing to deal with him,and said he would stand down

Kennedy is well pissed off with the admin guys,that's for sure

Kennedy said he told Miller the best way forward was through a CVA and even invited him to go in with him and TBKs',also said he has the best lawyer in the UK for dealing with a CVA

Liked how he asked the reporters were getting their information as it was confidential !

http://local.stv.tv/glasgow/99357-rangers-crisis-blue-knights-and-brian-kennedy-withdraw-bid-for-club/

Bill Miller withdrew his Rangers bid after fearing austerity measures would make him more unpopular in an already "inhospitable" environment. Jon Pritchett, chief executive of Club 9 Sports, explained that Miller had discovered what he felt were years of mismanagement when he began his due diligence after being named preferred bidder on Thursday. The American businessman also baulked in the face of "vitriolic" emails from fans who feared his newco plan would lead to the liquidation of the original club, and general uncertainty surrounding a number of issues. These included the future of players, who might not have been obliged to join his new company, and as yet undecided sanctions from the Scottish Football Association and Scottish Premier League. Club 9 Sports were initially involved in a consortium with Miller before announcing they had pulled out but Pritchett said he was still personally advising his friend, who made the bulk of his money in the tow-truck business. Pritchett said: "There were three contributing factors to his decision not to go forward. "There are big legacy costs as a result of doing things poorly over a number of years, structural and commercial problems. "It would be a hard time turning things around and implementing structural changes and discipline. Such changes would have made Bill very unpopular given the way things have operated. "Even after Bill announced his austerity measures last week there were people within the club asking how much money was available to be spent. It would take a fairly large amount of money to keep it from dying." Pritchett added: "The second factor is some of the contingency liabilities: are the players coming or going? What are the final decisions with regard to the SFA and SPL and sanctions? "The third factor was more about the environment. It was a fairly inhospitable environment for Bill. "He was getting hundreds of emails every day - vitriol and expletive-filled - saying 'Go home Yank'. "Bill felt like it was a pretty unwelcoming environment. He would have had to do a lot of things that would make him less popular. "With that combination of factors, Bill asked himself if it was really worth spending part of his children's inheritance on this. He decided this morning that it wasn't." The motivation of Miller in bidding for Rangers has been something of a mystery. The 65-year-old has been described as someone who guards his privacy and is not concerned with the trappings of wealth and publicity despite his status. Pritchett claimed Miller's love of sports and his ability to turn around a company made the project of rescuing the Ibrox club seem a worthwhile pursuit. "Bill loves sports," Pritchett said. "He has looked at things in the US but he has some Scottish and Irish friends who told him how big Rangers and the Old Firm are. I told him how big Rangers are. "There is probably not a comparison in terms of the spirit involved in the club in the US other than college sports and you can't buy a college team. "The other thing is, if you look at Bill's history, he has been very successful in finding distressed companies and turning them around and getting them operating in the right way. Rangers can be turned round. "With virtually every sports club, you don't make money on an annual operating basis. "But if you don't have any debt and look after the assets then you could get something worth a lot more a long time down the road." However, it appears the task of turning Rangers around was bigger and more complicated than first envisaged with Miller, who last week vowed to end a culture of over-spending, fearing a backlash from his plan. http://www.teamtalk.com/rangers/7741...awal-explained

ScotlandTonight ‏ @ScotlandTonight We'll discuss #Rangers with Football Finance Expert Neil Patey,Mark Dingwall from the Rangers Supporters Trust and @GrahamSpiers #scotnight

These fans who were slagging Miller and had banners saying they don't want him must have some inside info on him!,or maybe it's just me that's stupid and can't see it.Most of the fans,not me, wanted TBKs' because of the possibility of getting a fans representation on board.I can't make up my mind who would be better to take over Rangers,but I do know it's about time whoever has the desire for it really need to just do it.

Matt Slater ‏ @mattslaterbbc To avoid uncertainty, I can just about believe D&P has revived an earlier bid (Germans?) but only to keep TBK/BK on their toes

Full statement from Duff and Duffer.. BILL MILLER has announced that he has withdrawn his offer for Rangers and administrators Duff & Phelps have announced that three other bidders are in play. David Whitehouse, joint administrator, said: "We can confirm that Mr Bill Miller has decided not to complete his purchase of Rangers Football Club. "Since Mr Miller was announced as preferred bidder on Thursday of last week, it is regrettable that more progress could not be made to further the sale of the Club. "We have been informed by his advisors that there were a number of issues with which he felt uncomfortable including legacy contracts, the limitation of potential revenue streams and the expectation of required investment. "As in any company takeover, the selection of a preferred bidder does not guarantee the completion of the sale. In this case, with time and money for Rangers running out quickly, it was essential to move the process forward with urgency. Mr Miller's bid was deliverable to creditors and was the only deliverable bid on the table at that time. We had no other unconditional bid. "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. "There is every opportunity for these bidders to now complete the purchase of the Club prior to the end of the season."

Alison Robbie ‏ @AlisonRobbie Bill Miller: 'after hearing the msg from #Rangers supporters...loud & clear ("Yank go home"), I notified admin I have withdrawn my bid'

Rangers in crisis: American Bill Miller withdraws from bidding process to buy Ibrox club May 8 2012 bill miller Image 1 AMERICAN trucking tycoon bidder Bill Miller has withdrawn from the process to take over Rangers, it was revealed today. In a statement, Miller said: “As soon as I was announced as preferred bidder for Rangers, my team began to press ahead with our due diligence. Until then, information had been limited to what was made available in the internet data room and questions addressed to the administrators and their staff. In addition, I had preliminary discussions with the Scottish Footballing Authorities and limited discussions with Ally McCoist. Upon being named preferred bidder, discussions with Rangers staff started and discussions with all interested parties intensified. We continued to work through the holiday weekend in order to meet a very compressed schedule. By late Monday night, it became clear to me that preliminary information, discussions and analysis were, unfortunately, more optimistic than reality. Having no intention of negatively affecting the potential outcome of the club's future and after hearing the message from Rangers supporters and fans loud and clear ("Yank go home!"), I notified the administrators today that I have withdrawn my bid for Rangers and will not be moving forward. I am deeply disappointed as I had considered the opportunity to bid for one of the most historic football clubs in the world, an honor and a privilege. I wish Rangers fans, supporters and employees my very best. I hope all your dreams and wishes come true. You certainly deserve it. I am most disappointed that I won't have the opportunity to walk into Ibrox Stadium on the day of an Old Firm match as my friends tell me the hair on my arm will stand up and I will never witness such passion and spirit at any sporting event. God Speed, Rangers" Source: http://www.dailyrecord.co.uk/footbal...6908-23852679/

Sky Sports News ‏ @SkySportsNews Breaking: Bill Miller withdraws his bid to buy Rangers. More on #SSN

The chances of newco Rangers being waved back into the SPL increased last night after it emerged that five top-flight clubs will now be required to oppose their return. And, in what might yet prove a further boost to preferred bidder Bill Miller, chief executive Neil Doncaster refused to deny reports that the SPL currently have no power to impose any sanctions on Rangers as a condition for re-entry. Having already been postponed by a week, yesterday’s five-and-a-half-hour meeting of top-flight clubs once more ended without resolution. Duff & Phelps, the Ibrox administrators, did not turn up at Hampden but sent a request to adjourn a vote on new financial fair-play rules — a request which was unanimously approved by the other 11 sides. Bid: Brian Kennedy wants to buy former Rangers owner Craig Whyte's shares. The issue will now be considered at a general meeting on May 30, when, crucially, the power to approve a newco will formally be passed from the six-man SPL board to all 12 clubs. That means only an 8-4 majority would be required to vote Rangers back into the league. Should Miller submit an application before May 30, the board have agreed to consult all 12 clubs before making its decision. That could also involve an informal vote to offer guidance. Meanwhile, Brian Kennedy was attempting to buy Craig Whyte’s 85-per-cent stake in Rangers in a bid to increase the chances of Bill Miller’s ‘incubator’ project succeeding. Sorting out the future: Administrators David Whitehouse and Paul Clark have granted preferred bidding status to Bill Miller The move comes just days after Kennedy told Sportsmail he was ready to assist the American. Sources close to the Edinburgh-born businessman confirmed preliminary talks with Whyte had taken lace, but they stressed the move was an effort to help rather than hinder Miller’s Ibrox takeover. The Tennessee tow-truck tycoon was awarded preferred bidder status by administrator Duff & Phelps last week.