chilledbear

When there is no CVA, all the 'Rangers Supporters' will leave the consortium. I actually think we are getting taken for a ride here. I think the Admins have been stringing the bidders along until the end of the season. First the £500,000 to be a PB, when was that dropped. The Millar bid which was favourite for a while, then Kennedy, it was on, then off, Kennedy was that sure he flew over from New York. Now there are no more fixtures, no more 50,000 at Ibrox to protest, so Green buys the Club with no £500,000 up front. Abid which was that far down the line, there was no need for diligence. Hope I'm wrong but to my mind we are not out of the woods by a long chalk.

I'll be taking with a pinch of salt, the Rangers Supporters that are supposed to be involved.

What did Traynor call Whyte again, was it a Scottish billionaire or millionaire?

This thread should be kept, as a warning against the demon drink.

Who is involved and what are the plans. I don't see how we can be comfortable with this, until they are made public. It's fingers crossed time.

Thanks mate

http://www.dailyrecord.co.uk/2012/05/13/rangers-in-crisis-charles-green-promises-fans-he-s-not-another-craig-whyte-as-he-s-set-to-be-named-preferred-bidder-86908-23857513/

@bbc sports -------------------------------------------------------------------------------- @BBCSport: Former Sheffield Utd chief executive Charles Green has completed a deal to buy Rangers. More details to come soon Breaking News. Now on the BBC Page

Hope your wrong as well. Bad news if true.

It seems strange they could lose out because of £1m/£2m. Or has it come down to a game of poker for Kennedy.

Whoever we want to win the bidding, it must be obvious how poor their bid appears, especially after all this time.

That comment about selling 2 of their players is just stupid.

OK fair enough, we all want what is best for Rangers. But don't forget Green has already been involved in a football club, and if you talk to Blades in Sheffield, they will tell you what we would be letting ourselves in for.

You would rather have Green than Kennedy?

Some would have called it publicity seeking.

Big pressure now on D&P also the Green bid.

Usually to front a consortium you would get someone who has impressive qualities. Green is someone you wouldn't use. Does that say something about the rest?

That 'hibby' might be our only chance.

“Let me give him an earth-shattering exclusive – Scottish journalism is among the best in the world, so his cheap shots have done him no favours whatsoever'' This calls into question the sanity and accuracy of the author.

By Alasdair Lamont BBC Scotland Rangers' majority shareholder Craig Whyte has held discussions with one-time bidder Brian Kennedy over the transfer of shares. Following Bill Miller's installment as preferred bidder, Kennedy had stated the need for everyone concerned to back the American's plan. While that stance has not changed, Kennedy has been in talks with Whyte. Whyte has voiced his desire for the club to avoid liquidation and remains open to dealing with Kennedy. While Miller's proposal involves a CVA (Company Voluntary Arrangement) in parallel with the creation of a "newco" Rangers, without Whyte's agreement to transfer his 85% stake in the club, the "oldco" would ultimately be liquidated, barring a successful legal battle. Edinburgh businessman Kennedy, who allied himself with Paul Murray's Blue Knights consortium in recent weeks, will not try to usurp Miller's bid to take control of Rangers. Indeed, he believes time has probably run out for the Blue Knights' plan to exit administration through a CVA. Nonetheless, Kennedy is still exploring the possibility of procuring Whyte's shareholding. However, Miller will have been buoyed by the Scottish Premier League's decision on Monday to postpone a decision on new Financial Fair Play sanctions, as requested by Rangers' administrators. It means he can negotiate with the SPL over any sanctions that might apply to a newco Rangers entering the league, if he submits a proposal before 30 May when the clubs are scheduled to reconvene

From Twitter: Alasdair Lamont ‏ @BBCAlLamont Craig Whyte and Brian Kennedy have spoken about a transfer of CW shares in Rangers. Story here soon http://bbc.in/zJ5FgA

I think ones on the playing staff are a bit different from Boardroom level, which could happen in the future. Everything is up in the air from now onwards.

Peter Houston was "embarrassed" at his side's 5-0 defeat at Rangers in midweek but was happy with the way his side responded against the other half of the Old Firm. "I was proud of them this time," he said. "I was hoping for a reaction and I got a reaction." The Tannadice boss then entered the debate about the future of the administration-hit Ibrox club. United chairman Stephen Thompson admitted earlier in the day that there is dilemma facing the SPL board over what to do with a 'newco' Rangers, if such a situation arises. Thompson is part of the league's board that will vote on preferred bidder Bill Miller's proposal for Rangers to retain its place in Scotland's top tier, and told BBC Scotland: "This season we got £1.4m from the SPL. If we only get £200,000 to £300,000, then how do we fill the £1m? "But fans are talking about boycotts. It's a lose-lose situation." Houston said: "I think we need to keep Rangers in the SPL. Supporters all over the country will disagree with me but being at the sharp end of it with regards what it could do for Scottish football, we need them. "If £600,000 was cut off my budget, I would have hardly anything left. "I am just being honest. Rangers have to be punished, how I don't know but it wouldn't help us for Rangers to drop into the Third Division

http://t.co/wqbTOOy2 By PROF. DAVID HILLIER Published on Sunday 6 May 2012 00:00 â??The strategy Miller followed was to rebuild the tarnished brand name, cut costs and rationalise operationsâ?? GIVEN the recent history of Rangers Football Club, it is natural that fans and commentators will be wary of anyone who professes to invest in an institution that holds value to such a large segment of Scottish society. Bidders have come and they have gone, but now we are left with one: William G. Miller, chairman of the Tennessee-based Miller Industries Inc, a world leader in towing and recovery equipment manufacturing. Valid questions have been raised, not least regarding his motivation to invest in a financially distressed Scottish football club. There have also been queries as to his background, financial wealth, business style, plans for the club, ethics of his bid and how he could make a return where almost all investors in Scottish football have failed. Undertaking research into the background of a bidder is a formidable task. Miller has been involved in a number of companies over the course of his 65 years, and he, or the firms he has been associated with, have invested across varied industries and several countries, including the UK (Boniface Engineering, among others). Much of our view of Miller comes from his association with Miller Industries, the firm he has been associated with for more than 20 years. However, his prior business experience has included executive positions in large US firms, such as Bendix Corporation. Millerâ??s early business strategy is likely to echo his plans for Rangers. He identified three debt-laden, struggling firms that had strong brand names and had fallen from a leading position in the industry. These companies were Holmes, Challenger and Century. Holmes is particularly relevant given their similarities to the football club Miller wishes to buy. When Miller purchased Holmes, it had become insolvent after having fallen from being market leader in the US tow truck sector. The reason for Holmesâ?? decline? It had over-leveraged itself in pursuit of maintaining its position as market leader. Notably, Miller funded the acquisition by borrowing £12 million and investing £3m of his own funds. The turnaround strategy Miller followed was to first rebuild the tarnished brand name, ruthlessly cut costs and rationalise all operations. With the efficiencies he introduced and an instinctive eye for good acquisitions along the way, he tripled the value of his firm within four years. With experience of turnarounds of this type, Rangers appears an ideal investment. A lot of time and effort has gone into estimating the net worth of Miller. This is an exceptionally difficult task since many of his investments are in private companies. Some statistics can be provided from his most public engagement, Miller Industries Inc. Within the last 12 months, Miller has sold more than 50 per cent of his holdings in the firm, raising around £4m before tax. However, over the last seven years, his share sales have totalled more than £12m (before tax). Currently, Bill Miller has nearly 350,000 shares still in Miller Industries, takes a salary of just over £193,000 and received a dividend of almost £93,0000 in 2011. Miller is notable for refusing an increase in his base salary and bonuses in most years since 2000. This is despite other board members taking their allocated remuneration. Under his chairmanship, the company has also shied away from issuing executive share options to its employees. This is a perceptible signal of a firm that values loyalty and sustainability over short-term profits. Beyond the initial investment of £11.2m, a question has to be asked what further investment would be required in Rangers? In almost all of Millerâ??s corporate investments, growth and capital expenditure has come from internally generated funds. This will almost definitely be the model for a newco Rangers if the bid is successful. Finally, what would be Millerâ??s return on investment? At the age of 65, he will likely look for an exit within six years. The most efficient way forward will probably mimic his early purchase of Holmes. If the newco Rangers is formed, it will not benefit from European football for the next three years and will be unable to register players in the next 12 months. He is likely to use this as an opportunity to pare back and stabilise to be domestically competitive. A return to European football would be expected after the three-year exile and cash would be forecast to flow into the club. A financially healthy, well-run club would then be in a position to be sold to the fans at a healthy profit. In the days to come, it may transpire that a major creditor objects to a newco Rangers, and the ramifications of the dual contracts issue must still be judged upon by the football authorities. Combined, either may lead Miller to decide another investment may be preferable to that of Rangers. The future is potentially bright for the club but clearly many challenges still remain to be overcome. Only time will tell if William G. Miller will be the saviour that fans are searching for. n Professor David Hillier is vice dean of the Strathclyde Business School at the University of Strathclyde

Who is going to do the cost cutting? Obviously if BM takes over, he will appoint someone for the day to day running of the Club. I wonder what experience if any they will have of running a football club. Will McDowall still be at Ibrox?