der Berliner 3,249 Posted April 7, 2012 Share Posted April 7, 2012 From e.g. the Scotsman Published on Saturday 7 April 2012 01:48 BUSINESSMAN Bill Miller has confirmed he is the sole party in the American bid for Rangers. Miller, who was due to speak to manager Ally McCoist last night, said he hoped the club could come out of administration via a Company Voluntary Arrangement (CVA). He also denied a claim yesterday that previous sports ventures of his had failed, and clarified the role of Club 9 Sports, the company that had previously been regarded as the major element of the US bid. â??I am the sole bidder,â? Miller told The Scotsman. â??Club 9 Sports contacted me to see if I wanted to be an investor in the consortium they were organising. Because the group did not feel it could quickly agree to terms of investment and other issues, they decided not to go forward and disbanded. I decided to pursue the Rangers on my own. â??My preference is a CVA exit. I am working with the administrators and lawyers to find a creative solution that protects the history and future of the Rangers, but does not have the club hampered by large amounts of debt going forward.â? McCoist said yesterday he hoped to meet Miller and a representative of the Singapore bid as soon as possible, and Miller responded by saying he was about to speak to McCoist, who was very much a part of his plans for the club. â??My plans certainly include Ally McCoist,â? he stated. â??The success and long-term viability of the club and the wage bill are linked. The amount of money invested in the squad needs to be directly related to the revenues generated by the club in order to remain solvent and so as to meet the new requirements of Uefa, which prevent teams from operating at a loss,â? he continued. â??Any Rangers fan should be alarmed by this [potential debt of £134m]. It totally hampers the clubâ??s ability to be successful in the future. It is my intention to clean this up. Any time you negatively affect the future revenues by mortgaging the future of a team, you are endangering its very survival. â??With regard to the claims by others of sports flops, that is highly inaccurate,â? he continued, referring to the report in one newspaper yesterday. â??First, we offered to buy a hockey team in the US and move it back to San Diego where it had a long and great history. â??Unfortunately AEG did not want to enter into a lease and they did not want to share in the cost to refurbish the arena for the hockey club, so we did not buy it. That is not a failure. â??With regard to TRAC, that was a great business concept. Unfortunately, we discovered malfeasance from certain insiders and so we resigned. After being sued by this group for untrue allegations, I counter sued and eventually prevailed. If you care to research it, youâ??ll see that several of those people behind the suit are now in federal prison for securities fraud, which is what we had discovered.â? Looks "somewhat" different from what we have heard before. Also on Football365 0 Quote Link to post Share on other sites More sharing options...
biggordy 0 Posted April 7, 2012 Share Posted April 7, 2012 The Record ? Trying to muddy the waters? In a "story" about Rangers ? Trying to ridicule potential buyers other than the BKs ? Well I never !!!!!! 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted April 8, 2012 Share Posted April 8, 2012 My preference is a CVA exit. I am working with the administrators and lawyers to find a creative solution that protects the history and future of the Rangers, but does not have the club hampered by large amounts of debt going forward.” Translation: I intend to wind up Rangers Football Club plc. 0 Quote Link to post Share on other sites More sharing options...
Guest jicrw Posted April 8, 2012 Share Posted April 8, 2012 Translation: I intend to wind up Rangers Football Club plc. Unfortunately thats how I read it. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,249 Posted April 8, 2012 Author Share Posted April 8, 2012 Translation: I intend to wind up Rangers Football Club plc. One just hopes that anyone having a look at the liquidation-route does not just look at money, but also implication on and off the actual field of play, Europe et al. YOu do not need to spend 20odd million on a club that will be on sure footing for a number of years, but will get you no return whatsoever (if you look for that) for half a decade or so, no return in terms of silverware AND money. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 8, 2012 Share Posted April 8, 2012 (edited) In essence, unless you won the Cup, by my reckoning you would be out of Europe for 5 years not 3. If you started in SFL 3, you need to win promotion 3 times then qualify put of the SPL, which makes 4 years; then it would be the next season, so 5 in total. In Fiorentina's case it was 6 seasons 2001/02 to 2007/08 Of course, it is that against playing in the SPL with a possible 20 point penalty for say 3 seasons. Fiorentina were liquidated in 2002 and 6 years later (in their first season back in Europe) played against us in the semi-final of the UEFA Cup. They still play in the same stadium (OK it's municipally owned) they play in the same colours and UEFA regard them as the same club who have played in Europe since 1956 http://www.uefa.com/uefaeuropaleague/season=1989/clubs/club=52817/history/index.html. Wikipedia refer to them being "refounded" or "re-established" http://en.wikipedia.org/wiki/ACF_Fiorentina#cite_note-4 So you don't lose the history. Does anyone think that the good citizens of Florence regard the team as anything less than the viola of old? With that background, personally I would rather start afresh in SFL3 and work back up with no point deductions and some new places to visit such as Peterhead, the Podgorica of the north, Elgin and Annan! Oh and not to mention Berwick and Hampden Park!! Edited April 8, 2012 by BrahimHemdani Additional references 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,249 Posted April 8, 2012 Author Share Posted April 8, 2012 IMHO, while the admins and the bidders chose their words carefully, the press and media tries to get us to the edge far more than necessary. A decent enough CVA will suit most people best, you would hope that either foreign bidder sees the benefit of doing a deal with Ticketus too. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted April 8, 2012 Share Posted April 8, 2012 There is no reason for a CVA to be unachievable what ever bidder prevails. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 8, 2012 Share Posted April 8, 2012 you would hope that either foreign bidder sees the benefit of doing a deal with Ticketus too. I don't, it's better for us that they are part of the CVA. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 19, 2012 Share Posted April 19, 2012 mattslaterbbc ..it seems I underestimated Bill Miller & he is set to announce a fleshed-out CVA plan...stand by your beds #RFC The quiet man to come through on the inside? 0 Quote Link to post Share on other sites More sharing options...
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