Breaking News: Rangers to be sold before Xmas

[Zappa 0]

Quality!...

[pete 2,499]

I hate to be a party pooper but i will believe this when the dotted line has been signed.

[wabashcannonball 0]

See it's all kicking off again, so I will have my say and leave it, not got the inclination to go down a blind alley. Grandson reckons figures are out by a factor of three, taking into consideration the club has very manageable short and long term debt, also the clubs obvious property and other assets portfolio. Whyte has had to say the least a very chequered career, quite a few companies having gone under, always someone elses fault. The company named as the main player, Liberty, is loosely called a turnaround specialist, actually they are more asset strippers, why we would need a turnaround specialist, when we have Muir begs a question.

 

I will wait and see same as everyone else, but it looks like another florida/ellis shitfest, enjoy.

[chilledbear 16]

There may be more in it this time, but if it is good for Rangers we will have to wait and see.

[ian1964 10,761]

A potential takeover offers optimism to Rangers.

 

It will feel priceless when heavy debts still restrict the size of the first-team squad and the means to offer players new contracts, but uncertainty, as much as relief, must be dealt with in the meantime.

 

While Craig Whyte, a millionaire from Motherwell who made his money as a venture capitalist and is now based in London, continues negotiations with Sir David Murray, Rangers’ majority shareholder, speculation, and even doubt, will be generated. That is the case for the players and the coaching staff, at least.

 

A source close to the talks revealed that a deal could be struck in “weeks rather than days”. But then the club has been here before, with Graham Duffy, Andrew Ellis, Dave King and Jim McColl, who was briefly said to be involved in financing a supporters’ takeover, all linked with buying Rangers.

 

None of those deals could be completed, and supporters will wonder if now, finally, the club is to change hands for the first time in 22 years.

 

A resolution is needed, with the debt standing at around Ã?£25m and the likelihood that Lloyds Bank will act more stringently if Rangers fail to qualify for next season’s Champions League and earn the estimated Ã?£12m that generates.

 

It is understood, though, that Martin Bain, the Rangers chief executive, was unaware of the talks between Murray and Whyte, which brings further uncertainty as his role after any takeover would be unknown.

 

A kind of stability was established last June, when Rangers released a statement to the Stock Exchange declaring that Murray International Holdings would “no longer [be] actively marketing its controlling stake in the club for sale”. The move brought a sense of stability and calm in which Walter Smith could being to plot, without distraction, a bid to retain the title and be competitive in the Champions League.

 

But around 12 months on from Rangers last becoming the subject of stories about takeovers and the influence of Lloyds Bank, Smith might find himself again thrust into the upheaval of speculation. What funds will there be to invest in the team if Whyte completes his purchase of the club?

 

Will there be any money to spend when the transfer window opens in January to bolster a squad that is already beginning to strain under the competitive demands of the Champions League and a Celtic side whose title challenge, under Neil Lennon, is fiercely determined?

 

Whyte, a Rangers fan, is believed to have the finance to provide for transfer business, but it is unlikely to match the spending of Murray’s early years at the club. Supporters will demand ambition, that he is prepared to speculate to accumulate, but they may also be reassured at Whyte’s background as a fan.

 

Contract talks with Kenny Miller remain unresolved, while Sasa Papac is also out of contract at the end of the season. Suddenly, issues that the Rangers manager has been able to keep at arm’s length will suddenly reintrude, at a time when the Champions League group stage is coming to its conclusion and the Clydesdale Bank Premier League enters what is often a decisive period.

 

Smith has been here before, when Ellis was in discussions with Murray and the Rangers manager was asked on a weekly basis for updates. In the end, the inquiries began to irk Smith, particularly since he had never met Ellis.

 

He will be wary of that circus developing again. There is also the wonder about what will happen at the end of the season, when Smith retires, from Rangers at least, and Ally McCoist is due to take charge. All of the coaching staff will wonder what will happen to their roles under a new owner.

 

It is the future of Rangers that is at stake, and the emergence of Whyte brings only questions for now.

 

http://www.heraldscotland.com/sport/spl/rangers/whyte-knight-venture-capitalist-in-talks-with-murray-over-sale-of-rangers-1.1069162

[ian1964 10,761]

A SELF-MADE millionaire who lives in a castle is set to ride to the rescue of Rangers - after weeks of secret talks with Sir David Murray about taking over the club.

 

Lifelong Gers fan Craig Whyte - who made a fortune nursing struggling firms back to health - is poised to sign a �£32million deal for the debt-ridden Ibrox side.

 

Sources claim the final details of the agreement are still being thrashed out.

 

But the negotiations are set to be completed by the end of the year - bringing a dream to life for Whyte.

 

It is understood accountants and auditors are examining the wealthy businessman's bid but he and Murray are hopeful that the deal will go through without a hitch.

 

An insider revealed: "David Murray has always said he would only sell Rangers to someone he could trust and who could take the club forward. Craig Whyte is that man.

 

"He is a Rangers fan with the club's best interests at heart and the financial muscle to make this deal happen.

 

"The deal is in the early negoitation stages at the moment but I understand that David Murray has met Craig Whyte and been very impressed by his vision of the way ahead."

 

Venture capitalist Whyte - whose business interests are worth a massive �£1billion - was brought up in Motherwell and went on to amass a fortune through shrewd investments.

 

At the age of just 15 he played the stock market using cash he had saved from his weekend job.

 

And by the time he left school at 17 he boasted a bigger bank balance than most of his teachers - making more than �£20,000 from buying and selling shares.

 

It was the first step on the road to becoming Scotland's youngest self-made millionaire.

 

By the age of 26 he was chief executive and owner of Vital Holdings plc - a conglomerate of firms involved in everything from office cleaning to heavy plant hire.

 

And four years later he was listed alongside the likes of David Beckham as one of Britain's richest young people with an estimated �£20million fortune.

 

By 2000 he had quit Britain for the millionaire's playground of Monaco, but the dad-of-three returned to Scotland eight years later. He splashed out �£720,000 on historic Castle Grant, near Grantown On Spey, Moray.

 

Whyte currently heads London-based venture capital firm Liberty Capital, which has operations in the Netherlands, Switzerland, Russia and France and provides funding to struggling businesses needing a cash boost.

 

They also acquire existing businesses and specialise in providing finance to turn round situations where an established business has cashflow problems and requires both cash and expertise.

 

It's understood Whyte will take on Rangers' �£22.1million debt if he takes over the club.

 

In September, Rangers announced a year of profit and a substantial increase in turnover that enabled them to reduce what they owed by �£3.7million.

 

Debt problems had meant the SPL champions were unable to buy players for nearly two years until this summer.

 

Another source revealed: "Craig specialises in buying over stricken companies and nursing them back to health.

 

"He would take control of Rangers' debt - it will be taken care of. He's a very down-to-earth guy who likes to keep himself to himself and remain low profile."

 

The deal would mark the end of Murray's 22-year love affair with the Ibrox side.

 

Previous bidder Andrew Ellis - whose proposed takeover crashed earlier this year - had suggested that the steel tycoon be honoured with a lifelong presidency.

 

But it looks certain that the sale of his 92 per cent shareholding will see him make a clean break.

 

Instead it is thought Murray - backer of the Scotland rugby team - will try to enhance his sporting influence in other areas.

 

Last night Rangers fans welcomed the deal and claimed it was the boost their club needed.

 

James Macmillan, secretary of the Rangers Supporters Association, said: "This is very welcome news for the supporters and the club.

 

"It's early days yet and we've obviously heard things like this before, but this sounds very promising.

 

"It is something that the club needs and has needed for a while now. It'll be great to clear the debt and start with a clean sheet.

 

"But there needs to be money spent as well, not only on the playing field but the in the infrastructure of the stadium as well."

 

 

Read more: http://www.thescottishsun.co.uk/scotsol/homepage/news/3233965/Millionaire-fan-Craig-Whyte-is-set-to-buy-Rangers.html#ixzz15cGGX9bf

[Zappa 0]

Brilliant!! .. We all knew something was on the horizon

[Frankie 8,665]

Frankie,

 

Who is the journo running with the story on the Herald?

 

Sorry missed this last night - Darrell King and Richard Wilson both have stories.

[ascender 352]

I have to say it was nice to have an email this morning from the RST about this, but like many others, I refuse to get excited or even optimistic until its a done deal after the Ellis fiasco.

 

The email from RST, short though it was, seemed pretty unequivocal in its wording - "that Craig Whyte has stepped forward and is buying Rangers FC."

 

I guess we'll have to see what happens.

[Frankie 8,665]

The Trust obviously have some inside info so we can only hope they are basing their thoughts upon this while, like the rest of us, remaining rightly wary until we know more about the guy's plans.

 

It is good news that a buyer seems keen but it is impossible to back anyone unless we know exactly how they plan to run the club.