Bluedell 5,353 Posted April 16, 2012 Share Posted April 16, 2012 More and quicker apparently. F**kin' Ticketus. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted April 16, 2012 Share Posted April 16, 2012 F**kin' Ticketus. 'Fraid so....:meh: 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted April 16, 2012 Share Posted April 16, 2012 Are there any details floating about regarding the Ng deal with Ticketus? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted April 16, 2012 Share Posted April 16, 2012 Are there any details floating about regarding the Ng deal with Ticketus? None that I'm aware of save it's supposed to be more money for Ticketus and quicker repayment period (ergo more onerous terms for the fans and the club). 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted April 16, 2012 Author Share Posted April 16, 2012 Blue Knights to 'step back' from Rangers bid THE Blue Knights could be ready to walk away from their Rangers rescue bid after consortium partners Ticketus went behind their backs to try and negotiate a more lucrative deal for themselves with a rival group from Singapore. The shock development was confirmed in a statement and now appears to put the Singapore group, fronted by businessman Bill Ng, in pole position to become the preferred bidder for the stricken club, although the deal they are believed to be brokering with Ticketus was described by one source as â??not in the best long term interests of the clubâ??. It is understood that the third bidder interested in Rangers, American millionaire Bill Miller, has been all but ruled out of contention by the club�s administrators, Duff and Phelps. But there is deep anger within the Blue Knights group at the tactics deployed by London based firm Ticketus who weeks ago aligned themselves as part of a consortium bidding for Rangers, along with former director Paul Murray and three supporters groups. The Blue Knights said: "On the evening of Thursday 12 April The Blue Knight Consortium (�the consortium�) was asked by Duff & Phelps to reconfirm its �best and final� offer of 4 April. We reconfirmed our position and we believed that we would be awarded preferred bidder status on Friday morning. �As part of the process of awarding exclusivity Duff & Phelps had requested a non-refundable deposit which the consortium had agreed to provide. �During the course of Friday Ticketus decided that they were not prepared to provide this deposit. During the course of the weekend members of the consortium offered to put up the deposit subject to a small number of conditions which were broadly agreed with Duff & Phelps. �During the course of the weekend we were made aware that Ticketus had been in discussions with the Singaporean consortium who, on Friday, had offered Ticketus a �substantially� better deal to the one offered by us. We confirmed that we were not prepared to increase our offer to Ticketus. �The consortium believes that the whole deal process has now become incredibly complex and it is critical that a preferred bidder is appointed this week. �As a consequence, in the best interests of the Club, the consortium has decided to take a step back to enable Duff and Phelps, Ticketus and the Singaporeans to conclude a deal as quickly as possible. �We stand ready to complete our offer of 4 April which included a deal in principle with Ticketus. We still believe that a partnership with Ticketus represents the best opportunity of the Club exiting administration via a CVA. �We firmly believe that in the interests of the Club the whole process has to move forward as a matter of urgency. We are stepping back to assist with this.� That decision to become a Blue Knights partner had strengthened the Murray led bid as it crucially removed Ticketus, and the �27million they are owed as part of a four year season ticket deal struck by shamed owner Craig Whyte, from the creditors pot in any Company Voluntary Agreement (CVA) that has to be agreed if the club is to exit administration. Now, the Singapore bid is the front-runner as they hold that power if Ticketus join up with them. The Blue Knights had agreed to pay Ticketus back �10m of their �27m over nine years. There would be no interest due, no payments for the first two years, and no money owed in any season Rangers did not qualify for European football. It is believed the Singapore consortium have agreed to pay Ticketus back �14m over a shorter period, which has seen the London based firm looking at jumping camps and leave the Blue Knights furious. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 16, 2012 Share Posted April 16, 2012 It was? Who was that? I meant that the involvement of Ticketus with TBK bid was one of the main reasons given for it being blocked. Now that Ticketus have jumped ship, will the Ng bid get the same treatment? It doesn't seem like it on the early responses. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 16, 2012 Share Posted April 16, 2012 Are there any details floating about regarding the Ng deal with Ticketus? £14m paid back sooner than TBK deal. Obviously not official. 0 Quote Link to post Share on other sites More sharing options...
CumbernauldGers 0 Posted April 16, 2012 Share Posted April 16, 2012 This was always going to happen, TBK never had money, just spin and lies. Time for Mr Ng to step up. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted April 16, 2012 Share Posted April 16, 2012 This was always going to happen, TBK never had money, just spin and lies. Time for Mr Ng to step up. Source!!!! source!!!!! 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 16, 2012 Share Posted April 16, 2012 I meant that the involvement of Ticketus with TBK bid was one of the main reasons given for it being blocked. Now that Ticketus have jumped ship, will the Ng bid get the same treatment? It doesn't seem like it on the early responses. I believe the big difference being that Bill Ng isn't requiring any financial input from Ticketus - they are not integral to his proposal. From the info so far, he appears to have negotiated a settlement fee with Ticketus, which will hopefully remove them from any CVA discussions. The BK's were relying on Ticketus to fund their bid!!! How that will effect the overall make-up of the bid remains to be seen. 0 Quote Link to post Share on other sites More sharing options...
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