wabashcannonball 0 Posted March 29, 2010 Share Posted March 29, 2010 1. The interest of Ellis has been officially recorded. 2. There is no need for anything else to be disclosed at this stage, including whether he is doing due diligence. He and his company are still registered as being an "offeror" 3. The company's registrars have absolutely nothing to do with this. You may or may not be correct with your views about Ellis, but nothing that you have posted offers any evidence either way. So the reality is no one knows if DD is being executed, or if as is more likely smoke and mirrors akin to an alleged meeting in a London hotel is the sort of diligence being applied. As I said if you are saying the young lady is mistaken, incompetent or a dog, I can live with that, but there again they appear to make plenty of comment about other "clients" Lloyds included. 0 Quote Link to post Share on other sites More sharing options...
wabashcannonball 0 Posted March 29, 2010 Share Posted March 29, 2010 To be honest, I am fully aware that I have no clue what is going on and will just have to wait and see what happens. You huv an opinion son, they canny shoot you for it and yours has as much chance as anybody else's of being the right one in this total crock. :spl: 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted March 29, 2010 Share Posted March 29, 2010 I thought Mr Edgar did very well on Real Radio tonight. 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted March 29, 2010 Share Posted March 29, 2010 1. The interest of Ellis has been officially recorded. 2. There is no need for anything else to be disclosed at this stage, including whether he is doing due diligence. He and his company are still registered as being an "offeror" 3. The company's registrars have absolutely nothing to do with this. You may or may not be correct with your views about Ellis, but nothing that you have posted offers any evidence either way. But if DD is indeed underway from Ellis then presumably it is being conducted during a period of contractual exclusivity that would prevent the club from having related discussions with any other party - and would almost certainly require the club to report to Ellis any approaches from other parties as soon as they occur. I'm inclined to believe that any comment on this matter by the club (or its employees - Smith?) is either in breach of such exclusivity terms or else no DD is currently taking place at all. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted March 29, 2010 Author Share Posted March 29, 2010 But if DD is indeed underway from Ellis then presumably it is being conducted during a period of contractual exclusivity that would prevent the club from having related discussions with any other party - and would almost certainly require the club to report to Ellis any approaches from other parties as soon as they occur. I'm inclined to believe that any comment on this matter by the club (or its employees - Smith?) is either in breach of such exclusivity terms or else no DD is currently taking place at all. I don't see why exclusivity has to be in place for DD to take place. I have been involved in DD in the past where it has not been, in companies bigger and smaller than Rangers. 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted March 29, 2010 Share Posted March 29, 2010 I don't see why exclusivity has to be in place for DD to take place. I have been involved in DD in the past where it has not been, in companies bigger and smaller than Rangers. Well I can't comment on your business experience but I've been involved in many DD exercises, from both sides of the fence and you can take it from me only a complete jackass would conduct DD without first seeking to agree a period of exclusivity. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted March 29, 2010 Author Share Posted March 29, 2010 I guess it depends on the strength of the seller, how badly the buyer wanted it and the number of parties interested. Is Ellis in a strong enough position to demand it? I'm not so sure. 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted March 29, 2010 Share Posted March 29, 2010 Mastermind yes, paymaster no: Jim McColl deals blow to fansââ?¬â?¢ hopes of successfully taking over Rangers By Hugh MacDonald Published on 29 Mar 2010 THE conversation ended with a joke. Pressed on whether he held an allegiance to Rangers, Jim McColl answered: ââ?¬Å?I used to go to see Partick Thistle. I have gone more recently to watch Rangers. I gave up on Partick Thistle a few years ago.ââ?¬Â The substance of his message yesterday, however, will not bring a smile to those who are pursuing the idea of a supportersââ?¬â?¢ buyout of Rangers. McColl, chairman and chief executive of Clyde Blowers, is one of Scotlandââ?¬â?¢s wealthiest men. He is a dealmaker. His businesses turn over Ã?£1.2bn a year. He could have invested the move to buy over Rangers with a heavyweight guarantee of financial strength. Instead, his message is that he supports the move for supporters to take over the club with advice and goodwill. ââ?¬Å?We have been asked for input and advice. I have given that,ââ?¬Â he added. Asked if he wished a fansââ?¬â?¢ bid for Rangers success, McColl replied: ââ?¬Å?Absolutely. I think anything to do with both the clubs in Glasgow is very good for the economy of the city. I think they are both very successful in that respect just now and I think anything that would contribute to that success in the future, or growing it, I would be very supportive of.ââ?¬Â He added, almost unnecessarily in the circumstances: ââ?¬Å?I have no interest in buying Rangers or having a financial involvement in Rangers.ââ?¬Â No one ever believed this was his ambition. There had been fervent hopes, however, that McColl would underwrite the process for the fansââ?¬â?¢ scheme to take over the club. The Rangers Trust and others pursuing this route needed a Mr Big. McColl has now stated clearly he is not that man. ââ?¬Å?The whole plan is not predicated on the involvement of any individual,ââ?¬Â said David Edgar, media spokesman for the trust. But McCollââ?¬â?¢s stance is a serious blow. The trust plans include figures of Ã?£30m-plus to clear debt, Ã?£10m to secure contracts and Ã?£10m for annual running costs with fans being asked to invest up to Ã?£1500. All this adds up to nothing without someone to underwrite the process. ââ?¬Å?There are a number of different people out there we are talking to,ââ?¬Â said Edgar, who remains optimistic about the trustââ?¬â?¢s plans. But the chief of Clyde Blowers would have been the ideal partner. He has been wooed but has restricted his commitment to advice. He was first approached nine months ago by parties seeking some financial clout for a bid. The discussions over the fansââ?¬â?¢ buyout have only taken place over the past weeks with a document drawn up to put some flesh on the proposals. The dream was gaining some momentum. But it remains a dream without the substance of McColl. The businessman was attracted by the prospect of helping out. One financial analyst who spoke to him about the plans said McColl had been ââ?¬Å?enthusedââ?¬Â about the prospect. The situation at Rangers interested him on two fronts. McColl loves to be involved in a deal. He is also committed to allowing people to have more responsibility. His attraction to the fans and their backers was clear. He was precisely the man to give the move credibility. His advice was valuable. His financial clout would have been invaluable. Supporters of a fansââ?¬â?¢ buyout professed yesterday that they were not dismayed by McCollââ?¬â?¢s statement. They emphasised that other businessmen were interested and that the process would continue. One financial analyst, speaking on condition of anonymity, believes the model that the fans are pursuing is viable. ââ?¬Å?But it needs a sugar daddy and there are not too many of them out there,ââ?¬Â he added. The Rangers takeover saga therefore shows no signs of coming to an imminent conclusion. There were hopes that supporters, backed financially by McColl, could have steamed ahead quickly. This particular ship, however, is holed below the waterline. Another businessman may bail out the plan but he or she is not waiting in the wings. Rangers now head towards a close season with a mixture of good news and bad news. The former consists of an almost certain title victory and the Champions League money that will bring. The bad news is that uncertainty persists. Andrew Ellis, the London property developer, has had talks in the past week with Sir David Murray, the majority shareholder at Rangers. Dave King, his cashbox locked by the South African revenue service, is still a persistent whisper in the takeover talk. There have also been a number of alliances being formed to look at the possibility of a bid. But Rangers remain unsold. This uncertainty has not extracted a price on the pitch. Walter Smith could lead his side to a consecutive Clydesdale Bank Premier League title as early as next week if results are favourable to the Ibrox cause. The major football casualty this season has been on the other side of the city where Tony Mowbray has been sacked by Celtic after a season of underachievement. Rangers can rightfully bask in this playing success. But decisions will have to be made in the summer, not least whether Smith will stay on. There are, too, pressing concerns over the renewal of contracts. Ideally, a manager would like to discuss terms with a player a year before his contract runs out. Smith admitted yesterday there were still ââ?¬Å?question marksââ?¬Â at Ibrox. There is a worry that some players may decide to seek a future elsewhere. Rangersââ?¬â?¢ plight is not critical but the club needs a buyer. ââ?¬Å?We are working on seven deals just now,ââ?¬Â McColl told The Herald yesterday. There will be disappointment among many that the takeover of Rangers is not one of them. 0 Quote Link to post Share on other sites More sharing options...
wabashcannonball 0 Posted March 29, 2010 Share Posted March 29, 2010 Asked if he wished a fansââ?¬â?¢ bid for Rangers success, McColl replied: ââ?¬Å?Absolutely. I think anything to do with both the clubs in Glasgow is very good for the economy of the city. I think they are both very successful in that respect just now and I think anything that would contribute to that success in the future, or growing it, I would be very supportive of.ââ?¬Â He added, almost unnecessarily in the circumstances: ââ?¬Å?I have no interest in buying Rangers or having a financial involvement in Rangers.ââ?¬Â No one ever believed this was his ambition. There had been fervent hopes, however, that McColl would underwrite the process for the fansââ?¬â?¢ scheme to take over the club. 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted March 29, 2010 Share Posted March 29, 2010 Asked if he wished a fansââ?¬â?¢ bid for Rangers success, McColl replied: ââ?¬Å?Absolutely. I think anything to do with both the clubs in Glasgow is very good for the economy of the city. I think they are both very successful in that respect just now and I think anything that would contribute to that success in the future, or growing it, I would be very supportive of.ââ?¬Â He added, almost unnecessarily in the circumstances: ââ?¬Å?I have no interest in buying Rangers or having a financial involvement in Rangers.ââ?¬Â No one ever believed this was his ambition. There had been fervent hopes, however, that McColl would underwrite the process for the fansââ?¬â?¢ scheme to take over the club. I've just posted the whole article on the RST thread....... but I guess you already read it. 0 Quote Link to post Share on other sites More sharing options...
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