54andcounting 0 Posted April 6, 2012 Share Posted April 6, 2012 From what appears to be an ex-pat blogger living in Singapore. Much of his article is without substance, although the above does maybe show the need for caution. http://www.justsports.com.sg/2012/04/06/buying-rangers-could-be-a-step-backwards-for-singapore/?utm_source=rss&utm_medium=rss&utm_campaign=buying-rangers-could-be-a-step-backwards-for-singapore That guy CraigJShields stinks of TIM. Exactly my thoughts on reading that article 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted April 6, 2012 Share Posted April 6, 2012 The revelation that Rangers' debts could spiral to £134m, including around £94m to Her Majesty's Revenue and Customs, has shocked supporters as the full extent of the disastrous Craig Whyte era has become clear. "around £94m to Her Majesty's Revenue and Customs" - wasn't exactly a part of the CW era IMO. He's still been an abomination for us.. but lets not forget who caused this bill. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted April 7, 2012 Author Share Posted April 7, 2012 (edited) Was quoted in the Strait Times today... You can view a pdf of the article here: http://www.gersnetonline.co.uk/2010/STRangers2.pdf Edited April 7, 2012 by Frankie 0 Quote Link to post Share on other sites More sharing options...
CumbernauldGers 0 Posted April 7, 2012 Share Posted April 7, 2012 Was quoted in the Strait Times today... You can view a pdf of the article here: http://www.gersnetonline.co.uk/2010/STRangers2.pdf Whats he saying mate, cant seem to open that thinks it's my crap old computer ha. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted April 7, 2012 Author Share Posted April 7, 2012 On phone mate - maybe someone else can grab the text from it please? 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted April 7, 2012 Share Posted April 7, 2012 (edited) BY SANJAY NAIR HOUGANG United chairman Bill Ng will not budge in his bold bid for Scottish football club Rangers FC – despite reports that its debts could rise past the £130 million (S$260 million) mark. The Straits Times reported yesterday that he is part of a five-man Singapore consortium seeking to take over the Glasgow outfit, which entered administration last month following tax disputes. It is understood that they have tabled a bid of around £20 million, of which £12 million will be used to pay off creditors. But administrators revealed yesterday that monies owed by the Scottish champions stand at £55.4 million, with a further bill of £75 million should they lose a court battle with the British tax authorities. Nonetheless, Mr Ng, a director at private equity firm Financial Frontiers, said his group will not go a “single cent” over their proposed offer. The 52-year-old said yesterday: “In recent days, we’ve seen more creditors crying foul and claiming that they’re owed money by the club. “It is up to the administrators to decide what the real amount is. We’ve been monitoring the situation since last December so we’re happy with our offer, which remains and will not change.” His group faces rival bids from the Blue Knights led by former Rangers director Paul Murray and Chicago-based Club 9 Sports. A bid from an unidentified German- based consortium was dismissed. All three remaining offers are considered “competitive” by the administrators, who plan to select a preferred bidder next week, followed by due diligence. It cost Rangers owner Craig Whyte about £52.5 million to take over the clubfrom Mr David Murray in May last year. Rangers sank into crisis after news that Mr Whyte had bought the club using money – about £24.4 million – raised by mortgaging three years’ worth of season tickets to London-based agency Ticketus. Fans of the 141-year-old institution, which has won the Scottish league a record 54 times, are hoping the change of ownership will be for the better. Mr Gavin Berry, a journalist at Scottish newspaper Daily Record, told ST: “Whyte was such a disaster for Rangers and the fans. There can be no mistake in selecting the new owners as the club’s very existence depends on it. That is why most people here prefer the safe option, which is the Blue Knights.” Backed by several notable Rangers supporter groups, the Knights have already worked out an interest-free repayment plan with main creditor Ticketus. Some sections of the club’s reported worldwide fan base of 5.5 million have questioned the Singaporeans’ motives. But Mr Ng has reassured them that the storied club would remain in Scottish hands. He said: “As a Rangers fan myself since my childhood days, I know how fiercely protective the supporters are of the club’s heritage and tradition. We truly feel that we are the ones who can right the ship there.”Mr Stewart Franklin, a long-time Rangers fan who runs the Gersnet fansite, said there is excitement over the prospect of Singaporean ownership: “Some fans may be sceptical because of the lack of information on Mr Ng and their overall plans. But they are well in the running because many want to see the brand being extended into emerging markets.”Mr Ng, who plans to establish an exchange programme for Singapore players at Rangers, received the backing of the Football Association of Singapore (FAS). Said FAS’ deputy director of marketing and competitions Ridzal Saat: “We would like to applaud Bill Ng for his efforts in the bid, and if this development is successful, it could possibly further benefit Singapore football in the future.” Edited April 7, 2012 by rbr 0 Quote Link to post Share on other sites More sharing options...
Bears 0 Posted April 7, 2012 Share Posted April 7, 2012 Reports that Bill Ng was at Ibrox today? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,249 Posted April 7, 2012 Share Posted April 7, 2012 Just out of interest ... what tradition has football in Singapore, what tradition have Rangers in Singapore and how can the ownership of Rangers bear any fruits down there? I mean, what sort of "market" could be opened down there that would benefit Rangers, Singapore football, and, obviously, Mr. Ng? 0 Quote Link to post Share on other sites More sharing options...
Bears 0 Posted April 7, 2012 Share Posted April 7, 2012 Just out of interest ... what tradition has football in Singapore, what tradition have Rangers in Singapore and how can the ownership of Rangers bear any fruits down there? I mean, what sort of "market" could be opened down there that would benefit Rangers, Singapore football, and, obviously, Mr. Ng? Foot ball's huge out here, they absolutely love it. So we're not going into a market that's alien to football. It's not justing Singapore but the region as a whole, if i was to go into town now there'd be football on in ever single bar and club no matter where i was. The benefits to Rangers are his work ethic, cash and his knowledge of the game. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,249 Posted April 7, 2012 Share Posted April 7, 2012 The benefit to them is? ... again, just asking, since I have no clue whatsoever. 0 Quote Link to post Share on other sites More sharing options...
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