rbr

As long as it doesnt end up like Rangersmedia , the advertising on there is a complete switch off

BY SANJAY NAIR HOUGANG United chairman Bill Ng will not budge in his bold bid for Scottish football club Rangers FC – despite reports that its debts could rise past the £130 million (S$260 million) mark. The Straits Times reported yesterday that he is part of a five-man Singapore consortium seeking to take over the Glasgow outfit, which entered administration last month following tax disputes. It is understood that they have tabled a bid of around £20 million, of which £12 million will be used to pay off creditors. But administrators revealed yesterday that monies owed by the Scottish champions stand at £55.4 million, with a further bill of £75 million should they lose a court battle with the British tax authorities. Nonetheless, Mr Ng, a director at private equity firm Financial Frontiers, said his group will not go a “single cent” over their proposed offer. The 52-year-old said yesterday: “In recent days, we’ve seen more creditors crying foul and claiming that they’re owed money by the club. “It is up to the administrators to decide what the real amount is. We’ve been monitoring the situation since last December so we’re happy with our offer, which remains and will not change.” His group faces rival bids from the Blue Knights led by former Rangers director Paul Murray and Chicago-based Club 9 Sports. A bid from an unidentified German- based consortium was dismissed. All three remaining offers are considered “competitive” by the administrators, who plan to select a preferred bidder next week, followed by due diligence. It cost Rangers owner Craig Whyte about £52.5 million to take over the clubfrom Mr David Murray in May last year. Rangers sank into crisis after news that Mr Whyte had bought the club using money – about £24.4 million – raised by mortgaging three years’ worth of season tickets to London-based agency Ticketus. Fans of the 141-year-old institution, which has won the Scottish league a record 54 times, are hoping the change of ownership will be for the better. Mr Gavin Berry, a journalist at Scottish newspaper Daily Record, told ST: “Whyte was such a disaster for Rangers and the fans. There can be no mistake in selecting the new owners as the club’s very existence depends on it. That is why most people here prefer the safe option, which is the Blue Knights.” Backed by several notable Rangers supporter groups, the Knights have already worked out an interest-free repayment plan with main creditor Ticketus. Some sections of the club’s reported worldwide fan base of 5.5 million have questioned the Singaporeans’ motives. But Mr Ng has reassured them that the storied club would remain in Scottish hands. He said: “As a Rangers fan myself since my childhood days, I know how fiercely protective the supporters are of the club’s heritage and tradition. We truly feel that we are the ones who can right the ship there.”Mr Stewart Franklin, a long-time Rangers fan who runs the Gersnet fansite, said there is excitement over the prospect of Singaporean ownership: “Some fans may be sceptical because of the lack of information on Mr Ng and their overall plans. But they are well in the running because many want to see the brand being extended into emerging markets.”Mr Ng, who plans to establish an exchange programme for Singapore players at Rangers, received the backing of the Football Association of Singapore (FAS). Said FAS’ deputy director of marketing and competitions Ridzal Saat: “We would like to applaud Bill Ng for his efforts in the bid, and if this development is successful, it could possibly further benefit Singapore football in the future.”

could you get an old godgers team from gersnet , im up for it

Another small point , the £75 million that is getting mentioned , I always believed that was the initial BTC plus all the other stuff ie wee tax case , £ 15million in unpaid tax , VAT etc , however the £15 million is quoted in the creditors £55million total , cant be their twice or is the £75 million pure guess work

Sorry but £5 million for Jelavic , that bastard Whyte needs shooting , I say again £5million for Jelavic , and half is deferred

my head hurts

i wasnt putting anyone in any order as they are all bastards as far as I'm concerned, I was only writing this in the context that the Vanguard bears were /are getting slaughtered because of one article on their site , where they stated that at the time of writing CW hadn,t been charged wiith anything . Plenty of people jumped on this and are like dugs with a bone , yet we have a situation where yet again Dingwall has been very selective with what he remembers from a meeting only a few days ago , simillar to the RFFF meeting where he said he would suspend the saverangers site . You cant have it both ways

Well why did he want this put out then , only asking

You obviously never read what they put out re CW , and as of this moment he has not been charged with anything. He might be a an arsehole of the highest order , but he would only be joinging a right royal line up with SDM and Bain at the head , as for you not taking them seriously , I'm sure they will live with that lol

Does any othet members of this site own a debenture , if so have they been contacted by the administrators or is it the bond holders responsibility .Only asking as I have moved home several times since it was bought and have never updated the club , mainly due to the fact there is no bond office anymore. Also do we lose all rights to our bonds under an administration/cva scenario or is it only in the event of a liquidation . I dont want any money under a cva but I would like to be able to keep my debenture rights

From the Vanguard bears forum . [b"]Andy Smillie is paying all costs for the protest against liquidation and it was also him that organised the meeting on Monday ,took place in his office, He wanted this to get out to the fans as he feels its being touted as an RST organised protest."[/b]

Oh well that will be really riviting stuff , woof

It was BEAR who tweeted that , it was in relation to a comment Paul Murray made about TBK's being the only bidders not looking to put us into liquidation

To be perfectly honest I think this shows the absolute shambles that is the tax system more than anything else , slightly off topic but the way we administer Tax in this country is archaic

To be perfectly honest , once the club is saved and secure in the hands of new owners , the fans will do what they wlways do , put their money away and wait and see , the RFFF has raised comparetivly little , take away the few big donations and the money from Red and Black scarves and its not that much , the save Rangers scheme whilst looking like a lot will IHMO deliver only a fraction of that pledged . There is so much spin and counter spin that its really difficult to get to the bottom of bids , I had first hand info of very very wealthy guys who were over the moon when we went into administration ,but it now turns out they were only interested in the liquidation route , and these guys are serious Rangers men , aye right

Well hopefully the media will report it with the same amount of coverage as Regan's distorted version got

The main things that yesterday unfolded was that it is not all doom and gloom , many thanks for getting this info out Frankie , we appreciate it

just dont take anything for granted , lol

Sorry for the spelling error lol , you've just made my point , all I did was make a generalisation and you bit because you thought it was aimed at you , then you come back with your own sly dig aimed at me , you dont do irony mate

What because Craig is an admin he isn't allowed an opinion ,some people just have far to high an opinion of themselves

There was a long thread on those arsehole's Rangerstaxcase blog on this , basically due to Gary Withey actions Collier Bristows is fecked , Dudd & Phelps had withdrawn their claim on the £3.6 million to go after the larger £9.5 million which , RTC reckoned they would get through Collier Bristows Pl insurance

And exactly who's fault is that then , you seem to be laying the blame entirely at our door

I have to agree with Bluedell as much as I love the GIRUY to Dundee Hibs , this is not what the fund was meant to be used for and as the first use of the fund I find it a very strange choice

The shops and pubs around Govan , KP might get a bounce every second saturday or the equivelant of 24 days a year but I dont see it as enough to make a massive difference that your suggesting , the majority of our fans travel to Ibrox , your arguement seemed to be about fans travelling away from Sale Rugby. Also how do you quantify other businesses losing trade when fans travel to Ibrox , I dont get your arguement

And just how do you go about measuring local communities when talking about Rangers who have a Britain and Northern Ireland travelling support ,we have buses coming from all over the place and how local is local , Govan , Drumoyne , Partick , Shawlands , East Kilbride etc etc , as Govanallan says its a completly different animal