calscot 0 Posted December 3, 2010 Share Posted December 3, 2010 Sounds to me that it can come from income if we make enough profit, otherwise it's underwritten by the new owners. It also depends if the "net" condition is true - which is doubtful as it could force the club into spending say 13M before a transfer window ends if we say sell McGregor for 8M. Hardly the best way to go about business. If it isn't net then the money can be raised by selling players. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,411 Posted December 3, 2010 Author Share Posted December 3, 2010 Craig Whyte will meet members of the Ibrox hierarchy on Friday, as he looks to push through his joint offer with Andrew Ellis to buy the club. 03 December 2010 13:49 GMT Rangers' potential buyer Craig Whyte has arrived in Glasgow for talks with senior club officials in Glasgow over his �£33 million takeover bid. The Scottish businessman, together with partner Andrew Ellis, are trying to push through their offer to buy the SPL champions before Christmas. STV understands Ellis was also due to attend the same talks but was prevented from travelling north from his base in England by the current weather conditions. However, Whyte has gone ahead with plans to hold discussions as he tries to move closer towards launching a formal bid for the club. The proposed offer will wipe out the club's �£27.5 million debt to Lloyds TSB and also pay shareholders, including Sir David Murray, �£5.5 million. Whyte and Ellis are bidding for Murray's 92 per cent shareholding. It is also understood �£25 million will be invested in Rangers' first team squad over a period of five years, with transfer funds being made available to Walter Smith in the January transfer window if the takeover is concluded in time. News of the duo's bid first broke on November 18, with Whyte and Rangers both putting out statements to the Stock Exchange confirming a possible offer. More to follow...:sleep: http://sport.stv.tv/football/scottish-premier/rangers/213935-rangers-bidder-meets-with-club-chairman-for-talks/ 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted December 3, 2010 Share Posted December 3, 2010 At least its a sign that something is happening and would appear to indicate that Whyte is serious. But until any deal with any party is concluded, I'm afraid everything is just pure speculation. I think its good that he's a Bear, that has to at least allay some of the fears about someone's motives for buying the club and even the Ellis connection might be easily explained if Ellis has got some capital ready to go on the back of his failed bid and they both have similar ideas about how to generate some money via the property angle. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted December 3, 2010 Share Posted December 3, 2010 Just remembered that with the debt down to zero, that must save 1.5M per year in interest, which brings the extra cash needed for the 5M a year spend down to 3.5M. So if you count the 17.5M net spend as part of the deal it's still about the 50M mark for a huge club like Rangers with zero debt and a guaranteed 25M war chest for player fees. Sounds like a reasonable bargain to me with a lot of fun to be had to boot. 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted December 3, 2010 Share Posted December 3, 2010 I agree Calscot, given the number of season ticket holders, global appeal and the facilities we have, there must be potential to grow the club both on and off the pitch if we get an owner who is motivated enough and not going to make the same mistakes that SDM did. 0 Quote Link to post Share on other sites More sharing options...
H1ndy 0 Posted December 3, 2010 Share Posted December 3, 2010 (edited) STV understands Craig Whyte and Sir David Murray have reached an agreement in principle for the potential takeover of Rangers Football Club. It is also understood Whyte will fully fund the �£33 million takeover but Andrew Ellis will still be part of the deal, with a 25 per cent stake eventually being paid back to Whyte. on stv website now http://sport.stv.tv/football/scottish-premier/rangers/213958-rangers-takeover-whyte-agrees-deal-in-principle/ Edited December 3, 2010 by H1ndy 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted December 3, 2010 Share Posted December 3, 2010 A new era's dawning bears. Excitement and trepidation all rolled into one! 0 Quote Link to post Share on other sites More sharing options...
metlika 0 Posted December 3, 2010 Share Posted December 3, 2010 Whyte fully funds it but Ellis is part of it, don't know the guy but Ellis is a strange character and has me worried at the moment tbh. 0 Quote Link to post Share on other sites More sharing options...
stewarty 1,876 Posted December 3, 2010 Share Posted December 3, 2010 I have a mixture of scepticism and optimism about the deal and the possible motives of those involved. However, right now, the prospect of being freed from Murray's reign, of getting rid of the debt and having some money to invest in the squad in January leaves with feeling pretty good. Mind you, the way we negotiate these days, it wouldn't surprise me for things to stall over some stumbling block or other. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,411 Posted December 3, 2010 Author Share Posted December 3, 2010 I have a mixture of scepticism and optimism about the deal and the possible motives of those involved. However, right now, the prospect of being freed from Murray's reign, of getting rid of the debt and having some money to invest in the squad in January leaves with feeling pretty good. Mind you, the way we negotiate these days, it wouldn't surprise me for things to stall over some stumbling block or other. Will we EVER be free from SDM? 0 Quote Link to post Share on other sites More sharing options...
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