chilledbear

Blue Knights to 'step back' from Rangers bid THE Blue Knights could be ready to walk away from their Rangers rescue bid after consortium partners Ticketus went behind their backs to try and negotiate a more lucrative deal for themselves with a rival group from Singapore. The shock development was confirmed in a statement and now appears to put the Singapore group, fronted by businessman Bill Ng, in pole position to become the preferred bidder for the stricken club, although the deal they are believed to be brokering with Ticketus was described by one source as â??not in the best long term interests of the clubâ??. It is understood that the third bidder interested in Rangers, American millionaire Bill Miller, has been all but ruled out of contention by the club�s administrators, Duff and Phelps. But there is deep anger within the Blue Knights group at the tactics deployed by London based firm Ticketus who weeks ago aligned themselves as part of a consortium bidding for Rangers, along with former director Paul Murray and three supporters groups. The Blue Knights said: "On the evening of Thursday 12 April The Blue Knight Consortium (�the consortium�) was asked by Duff & Phelps to reconfirm its �best and final� offer of 4 April. We reconfirmed our position and we believed that we would be awarded preferred bidder status on Friday morning. �As part of the process of awarding exclusivity Duff & Phelps had requested a non-refundable deposit which the consortium had agreed to provide. �During the course of Friday Ticketus decided that they were not prepared to provide this deposit. During the course of the weekend members of the consortium offered to put up the deposit subject to a small number of conditions which were broadly agreed with Duff & Phelps. �During the course of the weekend we were made aware that Ticketus had been in discussions with the Singaporean consortium who, on Friday, had offered Ticketus a �substantially� better deal to the one offered by us. We confirmed that we were not prepared to increase our offer to Ticketus. �The consortium believes that the whole deal process has now become incredibly complex and it is critical that a preferred bidder is appointed this week. �As a consequence, in the best interests of the Club, the consortium has decided to take a step back to enable Duff and Phelps, Ticketus and the Singaporeans to conclude a deal as quickly as possible. �We stand ready to complete our offer of 4 April which included a deal in principle with Ticketus. We still believe that a partnership with Ticketus represents the best opportunity of the Club exiting administration via a CVA. �We firmly believe that in the interests of the Club the whole process has to move forward as a matter of urgency. We are stepping back to assist with this.� That decision to become a Blue Knights partner had strengthened the Murray led bid as it crucially removed Ticketus, and the �27million they are owed as part of a four year season ticket deal struck by shamed owner Craig Whyte, from the creditors pot in any Company Voluntary Agreement (CVA) that has to be agreed if the club is to exit administration. Now, the Singapore bid is the front-runner as they hold that power if Ticketus join up with them. The Blue Knights had agreed to pay Ticketus back �10m of their �27m over nine years. There would be no interest due, no payments for the first two years, and no money owed in any season Rangers did not qualify for European football. It is believed the Singapore consortium have agreed to pay Ticketus back �14m over a shorter period, which has seen the London based firm looking at jumping camps and leave the Blue Knights furious.

Looks like they will be named tomorrow as Preferred Bidder

David Fyfe ‏ @davidfyfe1987 Reply RetweetedRetweet Delete FavoritedFavorite · Close Open Details @jaydeemorgan @iainduff Have it on good authority David Ng will be named as preffered bidder. Will break tomorrow most likely

From GS on FF Blue Knights ready to stand aside as Ticketus do deal with Singaporeans for £14m --------------------------------------------------------------------------------

Just been tweeted. Story coming up in Herald. Building pressure on Admins?? James Morgan ‏ @jaydeemorgan Reply RetweetedRetweet Delete FavoritedFavorite · Close Open Details Blue Knights ready to "take a step back from" Rangers bid. Check http://www.heraldscotland.com/ soon for details

I'll be the first to admit, all this Admins, CVA and Preferred Bidder is new to me. Also I am as impatient as everyone else to get to end game. But what I don't want is for this to near the end and then to be held up by mistakes made at this point in time.

http://www.wearethistle.co.uk/forums/index.php?/topic/5755-celtic-v-hearts/page__st__20 Wanyama hand ball I hear.

Chris McLaughlin ‏ @BBCchrismclaug Reply D&P say situation was explained to fans. They're puzzled by the fans statement Chris McLaughlin ‏ @BBCchrismclaug Reply Preferred bidder extremely unlikely to be announced tomorrow. US bidders still to meet #SPL and Knights querying exclusivity fee

A bear celebrates http://www.youtube.com/watch?v=OPIgY0drKAE

HAHAHAHAHAHAHAHAHA:giruy:

RANGERS’ administrators last night denied suggestions that they are dragging their heels in the process of appointing a preferred bidder. Paul Murray, who is heading the Blue Knights consortium, has reportedly suggested that the latest delay, prompted by the SPL’s stated intention to bring in more stringent insolvency punishments, could push the club closer to liquidation. He has asked that the administrators move quickly to allow the successful bidder to push on with saving the club. But Paul Clark, right, of Duff & Phelps, insisted they were powerless to move forward as fellow bidders Bill Miller and Singaporean businessman Bill Ng want discussions with the SPL regarding the implications of Rangers coming back as a “newco” before advancing with their bids. http://www.scotsman.com/sport/football/spl/rangers-takeover-administrators-deny-they-are-at-root-of-delays-1-2235629 “We saw the comments from one bidder in the media on Saturday but it is not us who are holding up the process or moving the goalposts and all the bidders are aware of that. Before selecting a preferred bidder, it is vital to the club’s interests that bidders have made in writing their full financial commitment. “We believed we were nearly there last week and it is unfortunate that matters have run on. We hope to move things along next week but there is a lot of hard work to be done.” It is understood that Miller and Ng are hoping to talk to the governing body over the next 24 hours as they seek answers. “The SPL proposals re a ‘newco’ scenario did raise some concern but more important was the grey area of the club exiting administration but not completing a CVA before next season and that still requires clarification,” said Clark. “While bidders wish to remain at the table all of them attached conditions to their bids which included access to the football authorities.”

Preferred Bidder named on Monday. . . . I wonder what the betting would be for this not to happen?

Admins said this in a statement. "Inevitably, bidders are now considering this information and will have to take a view as to whether it will affect their individual bids as they now stand. The result is a delay in the sale process. We hope to receive feedback from bidders as soon as possible in order for us to take the sale process forward as quickly as we can. As far as I have seen with Murray saying their bid has been re-affirmed. That is all 3 bids been confirmed. Can we expect a statement on Monday from the Admins.

Didn't hear it myself so have copied what I have read. Murray just confirmed that his bid was re-confirmed on thursday.They havent asked for a delay or more time.The blue knights not affected as they want a CVA. Paul Murray understands the SPL proposals for clubs that go into administration/liquidation will only come into place on the first day of next season and his bid was confirmed on Thursday He says the clauses in the player contracts are basically to protect the players/club from another Whyte situation he says he would sit down with the players many of whom are Rangers fans and re-assure them of his plans to help the club regain stability but basically says it's a re-building job If anybody heard the interview please add.

Could you not have put a NO in front of 'Preferred Bidder'

First time he's been quoted saying something negative, was my first reaction.

As with all bids we can talk round about them, but we will know zilch until they want to tell us.

HAHA BM is right, and I should have had a different heading.

It could be him putting pressure on Admins. He does say his bid still stands. New creditors could mean Whyte, and this is his way of agreeing with King and Ellis.

From the Record today. Yesterday Ng spoke of unexpected costs which might undermine his bid â?? while suggesting his group could take their millions elsewhere. Ng said: â??Other creditors have emerged in the days following our bid submission. It has put a new dimension to what is needed to keep the club afloat. â??There will always be another club to go for if Rangers slip out of our hands.â? Wonder what other Clubs he watched as a boy.

Sorry can't help mate. Have a good time and happy birthday.

I would have agreed with you a few weeks ago. Not so sure now.

Some folk are more obsessed with Rangers than they are with their own team.

We entered administration under certain rules, so we should exit under the same. Don't see how they can change them midway.

Frankie Any chance of asking if they will name some of the 'Rangers supporting business men'?