forlanssister

The 41 year-old, whose business career began in a blaze of publicity, has studiously avoided the limelight for over a decade now, which only makes his decision to pursue ownership of the Glasgow club all the more difficult to understand. Often described as a lifelong Rangers fan, there are those who can remember the Motherwell-born entrepreneur travelling to Hampden in a supportersâ�� bus 20 years ago to witness his hometown club defeat Dundee United 4-3 in the Scottish Cup final. A self-made businessman (he started an accountancy course but failed to complete it), even before leaving Kelvinside Academy Whyte had amassed profits of �£20,000 through gambling on the stock market from the age of 15 and he started his business career by buying a plant hire firm. In 1993, aged 23, he acquired security company Vital UK and built it into a conglomerate before it went into voluntary liquidation, with debts of over �£600,000, three years later. The tycoon appeared at the High Court in 1999, where his legal team admitted he owed �£3.5 million to a single creditor. Before his fortunes took a turn for the worse, Whyteâ��s personal fortune was rated at �£20m and, tellingly, among his luxuries was an executive box at Ibrox. With his empire seemingly collapsing, Mr Whyte relocated to Monte Carlo in 1999 while the government launched an investigation into his affairs and former employees pursued him through the courts for unpaid wages. He returned to Scotland in 2007 after re-inventing himself as a venture capitalist, buying the 15th-century Castle Grant, at Grantown-on-Spey, for �£720,000. One of his neighbours is Bob Dylan, who bought nearby Aultmore House several years earlier. Whyteâ��s business interests include a variety of complex offshore companies. He founded Liberty Capital, a group which claims to specialise in buying under-performing companies and transforming their fortunes before selling them on. However, quite how Mr Whyte has been able to persuade the Rangers directors that he has access to the funding required to effect a similar transformation for their club has yet to be explained. Many of the companies he has been associated with have either gone bust or are worth little. Consequently, the source, and extent, of Whyteâ��s wealth remains opaque. Whyte split with wife Kim, whom he had married in Naples, Florida, in 2000, last year.

Basically saying "Don't trust the c&*t!"

This isn't exactly a ringing endorsement...... Statement by the Independent Board of The Rangers Football Club plc 6 May 2011 Further to today's statement from Wavetower Limited ("the acquirer"), the Independent Board Committee of The Rangers Football Club plc ("the Club"), comprising Alastair Johnston, Martin Bain, John Greig, John McClelland and Donald McIntyre, (''IBC'') would like to make the following statement: In recent weeks the IBC has been engaged with the acquirer and has secured an enhanced financial commitment from Wavetower for future investment into the Club. The decision on the sale and purchase of the majority shareholding in the Club firmly and ultimately rests between Murray MHL Limited ("MHL") and Lloyds Banking Group ("LBG"). Although the IBC has no power to block the transaction, following its enquiries, the IBC and Wavetower have differing views on the future revenue generation and cash requirements of the Club and the IBC is concerned about a lack of clarity on how future cash requirements would be met, particularly any liability arising from the outstanding HMRC case. Wavetower is purchasing MHL's 85% shareholding in the Club for �£1 and the Club's indebtedness with LBG is to be assigned to Wavetower. This share transaction would ordinarily trigger a requirement on Wavetower under Rule 9 of The Takeover Code for a mandatory offer to be made to the other shareholders. Given this transaction structure and following discussions with the Takeover Panel, the IBC considers there to be no purpose in the acquirer making such an offer to acquire all other shareholdings at effectively nil value per share. Accordingly the IBC has agreed that the offer period for the Club will now end. In agreeing that no offer should be made to all shareholders the IBC has insisted that the acquirer issues a document to all shareholders setting out the full terms of the transaction, comprehensive details on the acquirer and the sources of its funding and giving firm commitments to agreed future investment in the Club. The IBC is committed to ensure that the transaction and future investment and funding proposals should be transparent to all teh shareholders and supporters of the Club

Does not exactly fill me with joy.

Absolutely none.

The "debt free" brigade just won't believe you, they think Mr Whyte is the second coming when he's just a very naughty boy!

Why do you think he was so keen to do the deal, he's quids in already.

Close enough. It's 85.6082% through Murray International Holdings Limited, Murray Group Holdings Limited, Murray MHL Limited, Dunwilco 172 Limited and David Murray Holdings Limited. I suppose it could be argued that whether Whyte can take us private or not rests in Dave Kings hands as I honestly can't see the 26,400 small shareholders parting with theirs, personally no offer could make me part with mine.

I doubt they've even considered that possibility going by their conspicuous silence.

Not if Whyte manages to take us 'private' though.

Every pound that Whyte takes out of Rangers is a pound less spent on Rangers, it's that simple. Venture or perhaps Vulture Capitalists by their very nature chase the quick buck they don't tend to stick around for the long term. In a couple of weeks time you may find the current buzzwords going around Ibrox at the moment namely unmitigated and disaster filling a fair few column inches and coming through the airwaves.

Do you know if Mr Whyte's plan merits the approval of Adam Smith. I'd rather be run by someone desperate for Rangers to prosper as opposed to by someone desperate to make money out of us.

A Bear who couldn't even recognise or name our players!

I concur. People are confusingly thinking that paying off LBG makes us debt free, when it's merely shifting the debt from one source to another.

Pity he plays on the left !

I'd be worried for our future if Craig Whyte gets his hands on us.

An opportunity to ask Whyte some pertinent questions would be welcome too, no ?

So why the all the cheer-leading for the bid that's best for Murray best for LBG and which threatens the very existence of Rangers.

I'm going, but if it's updates or tweets during the meeting then sorry no can do I'm afraid.

They initially cited Build my Gallows but accepted the clubs submission that it was in no way sectarian, but the club could do nothing to defend itself when faced with documented evidence of the "Fuck the Pope" add ons and the use of the word Fenian, that fact and the possibility of increased sanctions if any appeal should fail will probably mean that the club will decline the opportunity to appeal. The club are deeply concerned about the manner of the prosecution of this matter particularly the Kafkaesque nature of the anonymity of the accuser/witness and are pushing for the identity to be revealed, but are aware of fact that the likely suspect has already been outed. I like to think it's by democratic right in a free society to sing what I want where I want and when I want it but that is tempered by my love of the club and now omit singing anything which will damage the club, there's still a time and a place for singing our songs but that place is not in front of anyone who can use them as a stick to batter us with. The next sanction after closed doors is a total ban from European competition, there is no doubt that those orchestrating the campaign against us namely the sex pesting dope smoking self declared we taig across the city and his acolytes , his posse of compliant journalists (that's journalists in the loosest possible meaning of the word) and all the assorted Rangers haters have the total ban as the destination where they want us to arrive. Let's all wise up and stop supplying them with the ammunition.

As a venture capitalist he (and his backers presumably) will be looking for a substantial return on any capital committed, how he intends to get that return is perhaps the most pertinent question to be asked of him, when all said and done any return can only come out of the fans pockets.

Indeed it is nearer 85% due to the recent untangling of Murray Sports. It's a very significant point if Whyte wants to take the club private he needs 90% of the shares before he can compulsory purchase the balance (IIRC).

The cost of having to build new roofs over three stands negated the value of additional seating. The original plan was to have more seating but the need to support roofs meant large pillars were required rendering a large proportion of the additional seating having restricted views. Whilst the screens have been crap for years it must be remembered that when the were initially installed they were state of the art and actually made good money for the club by renting them out to Wimbledon, cricket test matches, T in the Park et al.

I hope the standard of refreshment on offer greatly increases but alas if it does the price will probably too. The present standard in the West Enclosure is particularly grim and availability tends to be poor.

Pleasure .