Blue Knights + Kennedy Joint Bid Submitted - Ticketus NOT in consortium

[forlanssister 3,050]

Admin says on Radio Scotland TBK/Kennedy bid not nearly enough.

 

Admin speak with a forked tongue.

 

Copied from FF (think der Berliner owns the copyright of that phrase!) originally posted by Russell Nash

 

Whitehouse or Clark? one of them is a Liar

 

last week in a conference call Paul Clark of Duff and Duffer told Andy Smillie that Miller's "Incubous" plan was for all intents and purposes a Liquidation of the Rangers.

 

Today at the RFFF meeting at Ibrox, Whitehouse by means of pre recorded DVD informed the RSC reps that Miller's bid did not mean a Liquidation of the Club

 

So Mr Righthand and Mr Lefthand of Duff and Duffer

 

which is it?

 

Because one of you two shysters is a lying bastard

[capstans 0]

To be blunt no one has made bid, the admin are quite clear "bids" must be unconditional, quite simply no conditions attached.

[CumbernauldGers 0]

Ha it continues, TBK with BK puts in a very low bid it seems but it's all the admin people's fault. All we need is the tumbleweed passing by.

[forlanssister 3,050]

To be blunt no one has made bid, the admin are quite clear "bids" must be unconditional, quite simply no conditions attached.

 

Nobody but nobody will make an unconditional bid and only a fool would expect someone to pay for a CVA to benefit Craig Whyte.

[forlanssister 3,050]

Ha it continues, TBK with BK puts in a very low bid it seems but it's all the admin people's fault. All we need is the tumbleweed passing by.

 

Aha more spin and lies, name your source!!

[chilledbear 16]

They've been speaking with forked tongue since the start.

[der Berliner 3,279]

Did the admins said themselves that they will only consider an unconditional bid? Or was that in fact a media spin? I would expect that some conditions need to be met ere a deal can go through, yet, the severity of these conditions might be the bone of contention.

 

As of the numbers mentioned ... who gave this confidental info to the media? Is it just more assumption or hearsay?

[Guest superrcooper7]

They are saying Miller's bid is acceptable but expect TBK to come back with a revised offer and have been speaking to BK today and expect the revised offer within the next 24 hours at the latest.

[capstans 0]

Nobody but nobody will make an unconditional bid and only a fool would expect someone to pay for a CVA to benefit Craig Whyte.

 

Who are the fools those who do not understand the meaning of unconditional also those who think they can acquire the club for £1.5 million + £3.5 million held over from Whyte's lawyers.

[Guest superrcooper7]

Rangers: Administrator expects revised Blue Knights bid

 

Administrator David Whitehouse expects a revised bid for Rangers from the Blue Knights as its current offer would be "a challenge for creditors to accept".

Brian Kennedy joined the Blue Knights' attempts to rival Bill Miller's bid.

"Both parties know the bid has got to be commercially at a level which would be acceptable to creditors," Whitehouse told BBC Scotland.

"Bill Miller's bid is acceptable at that level. The only barrier to Bill Miller's bid is regulatory clearance."

Continue reading the main story

“

We have to conclude a transaction before the end of the season and that deadline is looming large

”

David Whitehouse

American trucking tycoon Miller is seeking assurances from Scotland's football authorities that Rangers will face no further sanctions ahead of next season, with the Ibrox club having already incurred a 10-point Scottish Premier League penalty for going into administration.

"We are hopeful that, within a very short space of time, the assurances that Bill Miller needs in relation to his bid can be delivered by the relevant authorities," said Whitehouse.

"We would hope that, at the very early part of next week, Bill Miller's bid will be clarified whether he can proceed or not."

BBC Scotland understands Miller's bid for Rangers is worth significantly more than that of the Blue Knights.

"It's been publicised that bid in quantum terms is £13m," said Whitehouse of the consortium led by former Rangers director Paul Murray and Sale Sharks owner Kennedy.

"That is not correct. It's very substantially lower than that and we have been in ongoing dialogue with Brian Kennedy on behalf of the Blue Knights during the course of today and we understand that he may be revising his bid during the course of today; certainly over the next 24 hours.

"What we're saying to Brian Kennedy and the Blue Knights is we are encouraging them to re-visit that offer and get it at a level where commercially it may be acceptable to the creditors.

"We're not in a position to quote a figure - they know a range. Bill Miller's bid is in the public domain and they have got a clear indication of the range of numbers which would be deliverable in other scenarios.

"If they are going to submit a bid at a level which would be commercially acceptable, they need to open very urgently a dialogue with the football authorities."

Rangers in administration

Process began on 14 February

Club deducted 10 SPL points

Players and management agreed wage cuts to enable season's fixtures to be fulfilled

Deadline for securing Uefa licence was missed but club have applied to play in Europe next season

Celtic confirmed as SPL champions on 7 April

Rangers 11 points clear of third-place Motherwell with four games to play

Whitehouse, whose firm Duff & Phelps was appointed administrator in February, also encouraged bidders not to engage in debate "dealing with the other's bid in a negative manner".

"What's not helpful is if their bid lands at a level which is actually less than creditors would get in a liquidation scenario," said Whitehouse.

"Nobody wants to go down that route. In terms of rescuing Rangers, I think they need to get their bid to a commercial level and focus on that element of their bid rather than talking publicly about Mr Miller's bid, which I don't think is helpful."

Players and management agreed wage cuts to allow the club to fulfil their fixtures for the rest of the season and Whitehouse reiterated the need to accelerate the takeover process.

"I'm reluctant to quote deadlines because invariably they tend to get missed, but there is a very real and large looming deadline, which is the end of the season, which is the point at which we have funding in place to continue to operate the business," he added.

"So, by definition, we have to conclude a transaction before that date and therefore that deadline is looming large.

"It's in the hands of the bidders to create a final date because they need to progress their positions to the point where they're capable of being accepted.

"I don't see any barriers in place to bidders being able to achieve that by the middle of this week.

"There is a very clear path which has been set to avoid liquidation and the regulators have been very clear in their desire to ensure that that scenario doesn't prevail.

"Therefore, it's in the gift of the bidders to make that happen."