Frankie 8,151 Posted June 15, 2012 Share Posted June 15, 2012 With Charles Green finally completing the purchase of the club yesterday for around £5.5million, our fans would be forgiven for thinking the ownership issue was over. Yes, the oldco has been liquidated but surely we could not finally move on under the (very slightly different) newco name? Not so! At the 11th hour, a new bid appeared from familiar names such as Jim McColl and Douglas Park, headed by the ultimate club figurehead of Walter Smith. They intended to takeover the newco deal at the last possible minute but, as it turned out, were too late? Again, not so! Essentially, what we now have is an auction for the club. Although, they wonâ??t be held to ransom, the McColl group will now look to buy the newco (and its assets) from Charles Green and his investors. Moreover, parties previously involved in the biding process â?? including the Asian-Pacific consortium headed by Bill Ng â?? will (and have) renewed their interested. We now have a bidding war and money talks! Of course this will suit Charles Green. Throughout his ownership bid, he has struggled for funding. He approached a variety of people including Douglas Park and Jim McColl but failed to convince anyone substantial to get involved. Indeed, it was this lack of funding power and an often less than convincing approach to detail which has meant the fans, though fatigued by this saga, were never fully welcoming of him. In that respect, Green perhaps deserves some sympathy. Despite the negative press and the crossed arm body language from our fans, he persevered and he did buy the club â?? albeit via the less attractive newco route. For that, many fans are prepared to give him the benefit of the doubt and these same supporters wonâ??t be enthused by the belated actions of the McColl bidders. Why leave it so late? However, despite fulfilling his promises, Green still doesnâ??t convince. In his opening statement as CEO yesterday, he mentioned Ian Hart as being one of his backers. Not true, says Hart. Thatâ??s a huge worry if Green canâ??t even rely on people he thinks are backing him. Meanwhile, the other names in his list are relative unknowns which, after the nonsense of the Whyte â??eraâ??, our fans may struggle to buy into. To that end, large sections of the support are already (and understandably) gravitating to the McColl bid. The familiarity discussed earlier means fans are more comfortable with names they recognise and business backgrounds more easily scrutinised. This overwhelming goodwill means this new bid will be backed by many and the supporter groups are already speaking of season ticket boycotts to pressure Green into â??stepping asideâ??. However, this shouldnâ??t automatically mean McColl et al are not subject to the same questions and constructive criticism other parties have had. Rightly, fans have had concerns over a variety of people involved in this process and this new â??fan favouriteâ?? bid should receive the same close attention despite, and indeed, perhaps because of the names that will be associated. For example, HMRC via BDO are about to begin an investigation into the previous directors of the oldco. People like Paul Murray, Alistair Johnston and Martin Bain may not have anything to hide but they are tainted with the failure of the old company. In addition, outstanding inquiries into tax avoidance schemes and alleged dual contracts, means we can ill afford the newcoâ??s reputation, time and money to be faulted down the line. Thus, I think itâ??s fair to ask Jim McColl and Dougie Park just who is involved in their group, what their plans are for the club and how they intending funding it? Provide that and theyâ??re arguably home and dry. Do not and other bidders will fancy their chances while Green will be less easy to deal with. Generally speaking, I think most fansâ?? default position will be to support the â??newâ?? Blue Knights. At a push, despite being neutral throughout this whole farce, Iâ??d have to agree with that. Nevertheless, as the bidding war starts for the club, I also think our support would be well advised to keep their eyes open and approach all bids with caution. Remember, we are about to spend around £15million on season tickets and will be asked to contribute to a share issue under both Green and McColl. That means we hold immense power and we need to start using it more productively than we have been. Our annual ticket investment funds the club â?? we deserve a say in where this money goes and how it is used. Finally, the club has now effectively been sold twice over the last year. Itâ??s about to be sold for a third time â?? possibly as quickly as next week but certainly before the start of the new season in August. Letâ??s ensure itâ??s sold to the right people this time! 0 Quote Link to post Share on other sites More sharing options...
foggy dewhurst 0 Posted June 15, 2012 Share Posted June 15, 2012 why has it taken the new consortium so long to come forward this all started on february the 14th . but i for one would like to see the walter bid come up trumps anything to keep the club in the rangers family . 0 Quote Link to post Share on other sites More sharing options...
Craigy1881 79 Posted June 15, 2012 Share Posted June 15, 2012 Good read Frankie thanks 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 15, 2012 Share Posted June 15, 2012 we need answers from everyone. we know even less about ng's bid. not that we know much about green or Walters. it would also be better if we didn't have a bidding war probably. which for me means I would like to see ng step asside or better still back Walter. though I've never had a problem with ng. his we bit about the cwc final was a mistake but typical of Asian over enthusiasm imho. he seemed to have the cash and was just another victim of d&p. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted June 15, 2012 Author Share Posted June 15, 2012 we need answers from everyone. we know even less about ng's bid. not that we know much about green or Walters. it would also be better if we didn't have a bidding war probably. which for me means I would like to see ng step asside or better still back Walter. though I've never had a problem with ng. his we bit about the cwc final was a mistake but typical of Asian over enthusiasm imho. he seemed to have the cash and was just another victim of d&p. I've been consistent throughout that all bidders need to be open and details their plans. Anything less isn't good enough and it doesn't matter who that is. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 15, 2012 Share Posted June 15, 2012 I've been consistent throughout that all bidders need to be open and details their plans. Anything less isn't good enough and it doesn't matter who that is. agreed. I've always said tbk need as much scrutiny as any other bid. though I'm clearly not the person to do that. never had a problem with people asking questions of tbk. even the ones asking the same questions over and over again despite knowing the answers. 0 Quote Link to post Share on other sites More sharing options...
Cotter 0 Posted June 15, 2012 Share Posted June 15, 2012 If it's fan power that will decide the fate of the club, which is looking increasingly likely, then the Walter consortium could do a lot worse than a Blue Knights style press conference followed by some swift and agressive marketing re season ticket purchase. Answer our questions, give us a vision we can embrace and we'll be 100% behind you and hell mend anyone that gets in the way. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted June 15, 2012 Author Share Posted June 15, 2012 I think Walter's in France at the moment but I'd imagine there will be some sort of press conference when he returns. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,342 Posted June 15, 2012 Share Posted June 15, 2012 I think Walter's in France at the moment but I'd imagine there will be some sort of press conference when he returns. No rush then.......... 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted June 15, 2012 Author Share Posted June 15, 2012 No rush then.......... They probably hope they can do this without resorting to it but if Green does dig his heels in, then he may have to. No matter, I'd hope the fan groups are as eager to ask for more info a quickly as they've backed the bid. 0 Quote Link to post Share on other sites More sharing options...
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