ian1964 10,415 Posted April 27, 2011 Share Posted April 27, 2011 CRAIG WHYTE will race against the clock today to finally buy Rangers. The tycoon wants the �£33 million deal finalised before the country shuts for the Royal Wedding. London's stock market closes at 4pm today and is then closed on Friday for Kate and Wills' big day and also Monday due to a bank holiday. And a source said: "Everyone is working around the clock to get the deal finalised. "He wants it done before the wedding and the stock market closes. "He knows if it is not completed today it will rumble on until next week. "Everything is almost in place. The deal is almost done." Whyte, 39, is on the brink of taking over the Ibrox club. The takeover has sped up after the Rangers board officially gave him the thumbs up. Gers chairman Alistair Johnston is in America but that should not hold up the transaction. Whyte convinced the board of his buy-out after talks following the Old Firm clash on Sunday. He has vowed to give new boss Ally McCoist a �£10 million close-season transfer war chest. Read more: http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/3551733/Lets-do-the-deal.html#ixzz1KlpDMLJG 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted April 28, 2011 Share Posted April 28, 2011 Am I correct in thinking this can only be announced to the stock market after 4pm today? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,150 Posted April 28, 2011 Share Posted April 28, 2011 Am I correct in thinking this can only be announced to the stock market after 4pm today? I'm not sure about that. If you look at our PLUS page, past news announcements have been made at a range of times throughout the day. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,150 Posted April 28, 2011 Share Posted April 28, 2011 Some info I've been given today: Am told 'working capital' required from new owner is not in place to enable deal to go through as yet. Proof of said 'working capital' has apparently been provided but monies still not lodged for Day 1. As ever, this information is posted in good faith so please ruminate over it in the spirit intended. 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted April 28, 2011 Share Posted April 28, 2011 I thought the required monies were in escrow. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,150 Posted April 28, 2011 Share Posted April 28, 2011 I thought the required monies were in escrow. Those are the purchase price monies. This is working capital - i.e. the money needed to find the club from Day 1 of new ownership. 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted April 28, 2011 Share Posted April 28, 2011 Those are the purchase price monies. This is working capital - i.e. the money needed to find the club from Day 1 of new ownership. Lets hope he didn't forget about that 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,246 Posted April 28, 2011 Share Posted April 28, 2011 Maybe that's the 25% Ellis has to deliver? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,150 Posted April 28, 2011 Share Posted April 28, 2011 Maybe that's the 25% Ellis has to deliver? Ellis doesn't have to provide anything up front apparently. Obviously Whyte is confident that whatever plans they have in the pipeline will make them both a lot of money given we're talking at least �£7million here. 0 Quote Link to post Share on other sites More sharing options...
franker 1 Posted April 28, 2011 Share Posted April 28, 2011 Ellis doesn't have to provide anything up front apparently. Obviously Whyte is confident that whatever plans they have in the pipeline will make them both a lot of money given we're talking at least �£7million here. Whyte can see a return in buying our club that no other Rangers supporting businessman can- the mans got to be a genius............. 0 Quote Link to post Share on other sites More sharing options...
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