Telegraph - New bids have Rangers connections

[forlanssister 3,050]

It's getting a wee bit surreal...........

 

 

Graeme Souness has been earmarked for a sensational Ibrox return by TWO of the groups trying to buy Rangers.

And disgraced owner Craig Whyte is set to clear the path for the former managerâ??s return by selling his majority shareholding in the stricken club for a pound.

Ibrox administrators Duff & Phelps are in advanced talks

 

Itâ??s understood that both consortia have placed a Souness return at fhe heart of their plans - with the close friend of previous

bidder Brian Kennedy now at the heart of three of the four potential bids on the table.

Kennedy attended an Old Firm game at Ibrox in the company of the former fansâ?? favourite and, despite being rated the outsider, continued his own talks with Duff & Phelps.

Bill Ng, the Singaporean businessman who had a previous interest before withdrawing, is also back in the race following Bill Millerâ??s exit on Tuesday.

 

Hopes of selling the club by the end of the season have been increased after Whyte signed letters declaring that he will end his ruinous tenure for the nominal sum of a pound â?? the same sum he paid Sir David Murray to buy the club 12 months ago.

 

So far, however, Whyte has only signed agreements to sell his shares to two of the groups, with co-administrator David Whitehouse confirming news which removes a major obstacle to a quick sale.

 

â??We can confirm that, to our knowledge, there are written agreements in place with two of the bidders to transfer Craig Whyteâ??s shares,â?? Whitehouse told Sportsmail.

'People say he is selling his shares, but he is doing that for a nominal consideration of a pound. So Craig Whyte is not going to benefit from this process.

â??But letâ??s not lose sight of the fact that Craig Whyteâ??s shares are only one hurdle towards a Company Voluntary Arrangement.â??

The London-based consortium want to pursue a CVA to maintain the current Rangers infrastructure, while the other group â?? with Rangers links â?? would adopt Bill Millerâ??s incubator newco model.

 

â??Weâ??ve had some quite detailed discussions with three of the four bidders,â?? Whitehouse reported. â??Weâ??ve had discussions with all four, but only detailed discussions with three.

â??I would say, we are very positive in terms of being able to move those forward towards very-clear clarity this week. Hopefully, we will have more clarity tomorrow.

â??They are very real bidders and, although two of them are very late to the table, they are actually very advanced in their thought process, well engaged with advisors and well-funded. â??They would, I believe, be popular with fans. Both bids.

 

â??They are known names in both football and in the Scottish community. There is certainly a more natural empathy with the club than Bill Miller had.

 

'There is a Rangers connection. â??They want anonymity, but that will break over the next 24-48 hours. These bidders are in a position where they are well known and if they put their heads above the parapet there will be a crescendo of interest and support â?? and they donâ??t want that yet.

 

â??They will only do so if they are in a position of likely success.â??

 

Asked if the London consortium were the frontrunners, as believed, Whitehouse remained cautious, stating: â??Are they at the forefront? They are certainly at a very advanced stage. But so are two of the others.

 

â??Three of the four bidders are in the hands of lawyers. The lawyers have been instructed and there is documentation, etc.

 

â??Brian Kennedy is what I would describe as the fourth bid.â??

 

Bill Ng, meanwhile, believes his Singapore-based consortium could land Rangers for half the sum he originally budgeted after confirming he had rejoined the race.

Sources in the Far East previously quoted Ng as saying he had set aside a total of around £20million for his initial rescue plan, based around a CVA. But he then

withdrew last month, citing problems agreeing a deal with Ticketus and complaining about the approach of administrators Duff & Phelps.

 

Ng is still regarded as an outsider but is now thought to be pursuing a newco route similar to Millerâ??s £11.2m collapsed bid.

 

â??It is really crazy,â?? said Ng, chairman of Singapore club Hougang United. â??There were something like 20 missed calls from Scotland on my phone when I woke up this

morning.

 

â??I am now told they are willing to accept 50 per cent of what I had initially offered. It seems they are now more receptive and no longer digging in their heels with unrealistic demands.

â??Weâ??ve always said we are interested in Rangers but any deal that is concluded has to be realistic.'

 

http://www.dailymail.co.uk/sport/football/article-2142102/Graeme-Souness-return-Rangers.html#ixzz1uPpFDl1M

[the gunslinger 3,366]

if two bids are a newco that can be done without whyte doesn't that make it likely the other two have the letters from whyte meaning all 4 bids are possible.

[caseyjones 0]

It took me an age to do that on my phone....and it's already posted!

[the gunslinger 3,366]

its just amazing you have a phone.

[caseyjones 0]

if two bids are a newco that can be done without whyte doesn't that make it likely the other two have the letters from whyte meaning all 4 bids are possible.

 

Any straight CVA deals would need to be extra special to force D&P to accept them.

[caseyjones 0]

its just amazing you have a phone.

 

True dat!

[the gunslinger 3,366]

Any straight CVA deals would need to be extra special to force D&P to accept them.

 

I suspect your right. probably as they end the gravy train.

[simplythebest 0]

I suspect your right. probably as they end the gravy train.

All about the creditors GS.

[Guest budgie]

Thinking of investing in salt;there will soon be a shortage since everything we read needs to be taken with a huge pinch of that commodity.

[Guest Buzz]

I'm starting to just get a little bit hopeful...

 

And I'm struggling not to chant "SOUNESS, SOUNESS"