caseyjones 0 Posted May 9, 2012 Share Posted May 9, 2012 (edited) Bidders Have Cash Wed, May 9, 2012Tweet by Lindsay Herron DUFF and Phelps have confirmed that all three parties bidding for Rangers have the financial resource to a complete a deal - and they have reiterated that they want to get it done by this weekend. The remarkable Rangers takeover story took a stunning new twist yesterday when firstly Bill Miller withdrew his offer to shock supporters and then it was revealed there were new players at the table. The administrators are now in major discussions with all three and insist they want business to be concluded before the end of campaign on Sunday. Sarah Bell from Duff and Phelps told rangers.co.uk: "We have three previously undeclared bidders, one of which is seeking a stand-alone CVA and the other two following the same plan as Bill Miller, ie an asset sale to a newco with the old company exiting through CVA. "Of course if it is a stand-alone CVA then that will take several weeks to do and one of the aspects of that will be funding over that longer period but if a party was willing to fund that period then we could extend the deadline. "The three main deciding factors for selection of the best bid are deliverability of the deal, quantum of a CVA and timing. "In terms of expediency then going down an asset sale or newco route would be quicker. "We are, of course, very conscious that the season ends this weekend and we hope to be running with one of the parties in the next few days. "The three bidders have been doing very sophisticated research into the situation so they are well aware of what is involved. That was encouraging for us. "Some fans may wonder why three bidders have suddenly emerged when Bill Miller was in preferred bidder status and then withdrew but they had been studying the situation. "What we can say is that without going into exact figures we are satisfied that all three parties have the financial wherewithal to complete a deal. "We have also taken the decision not to send out renewals for season tickets so that any party coming in to take over the club would have that funding. "I can say that HMRC are interested to see the merits of each one of the offers and they are open to further discussion with us. "We want to try to reassure supporters that while our duty as administrators is to secure the best deal for creditors this is not just about the survival of the club but giving it the ability to thrive. "As I said we hope to be in running with one party by the end of this week." Edited May 9, 2012 by caseyjones 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted May 9, 2012 Share Posted May 9, 2012 I'm away for lie down, my erse is nipping and nerves are shot to pieces. catch you all laters. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 9, 2012 Author Share Posted May 9, 2012 We've heard this shite before from them. 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted May 9, 2012 Share Posted May 9, 2012 Sarah Bell? Perhaps she doesn't speak with forked tongue! 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 9, 2012 Share Posted May 9, 2012 48 hrs then. I do love a duff and Phelps deadline. 0 Quote Link to post Share on other sites More sharing options...
TheWeeBlueDevil 0 Posted May 9, 2012 Share Posted May 9, 2012 Just goes on and on, all we can do is sit and wait hopefully something will happen this weekend but i wouldn't hold my breath 0 Quote Link to post Share on other sites More sharing options...
tango 0 Posted May 9, 2012 Share Posted May 9, 2012 More pish from d&p ,pigs will fly if it is concluded by the weekend 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,066 Posted May 9, 2012 Share Posted May 9, 2012 Duff & Phelps, the bastions of truth. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 9, 2012 Author Share Posted May 9, 2012 Sarah Bell? Perhaps she doesn't speak with forked tongue! Sending out the dolly bird now. Things must be coming on top for that pair. 0 Quote Link to post Share on other sites More sharing options...
stewarty 1,896 Posted May 9, 2012 Share Posted May 9, 2012 Quite baffling how they have gone about their business. Why not sell season ticket but put the income in escrow? 0 Quote Link to post Share on other sites More sharing options...
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