kevinthomson8 0 Posted November 30, 2009 Share Posted November 30, 2009 Hi guys As I said on saturday, just trying to help with info as some people seem to be getting confused about what this plan is - which is understandable given the amount of stuff swirling around. 1) Duffy has broken cover others are staying quiet at this moment in time. he is PART of a consortium, I am told another two or three big hitters in talks with him and he is the one put up first to talk. 2) They are ALL putting in the same amount to underwrite the debt, and hope to get it for around �£25m from the bank. 3) First stage is to get the club out of the banks hands. Second to see the season out - then rebuild begins, new manager, board etc.. Third to implement fans members club and then all other plans from there. 4) Duffy will not be running club, but will be on new board with the others. 5) They will NOT be making any money. There is no McCann deal here when they buy shares, sell them and get out down the line. 6) Essentially, they will strike a deal with the bank that say ' we will guarantee the debt - now give us the club to run' So they don't put money in initially, but would have to if, say six months down the line the bank call it in. Quite clever move in that, if the fans cash rolls in, the debt will come down naturally in a new business plan - but they still have their own reddies in hand to buy into being part of the 45,000. If they fans numbers don't stack up, they can offset. That's what I am hearing. Told that Duffy has money, most of it from property in the Carribbean, and a lot has changed in his business in nine years since the stuff you are reading. My guess is he is a FRONT just now until the rest get ready to unite - there will be another two defo, and poss a third, and they have money. It's all a game, a dance with the bank right now - Murray was apparantly scrambling yday, trying to find out about Duffy, who the rest are as he is raging now he's out the equation and a deal can be done with the bank direct. Forget this guff about his shares, etcc. The bank have taken Rangers - they can force him to sell the club to whoever they want. Finally, Dave King has made no moves at all. Link to post Share on other sites More sharing options...
ascender 352 Posted November 30, 2009 Share Posted November 30, 2009 Thanks for posting that update from FF. Always interesting to see stuff from BarryBaldy. Cheers, Mike. Link to post Share on other sites More sharing options...
Frankie 8,182 Posted November 30, 2009 Share Posted November 30, 2009 This is quoted in page 2 of the Duffy thread you posted KT8... Link to post Share on other sites More sharing options...
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