BBC: Craig Whyte remains hopeful - aye sure he does

[maineflyer 0]

The following is from BBC Sport website .... looks to me like a clear pre-cursor to the deal falling through ..... but I suppose we continue to live in forlorn hope .....

 

 

By Alasdair Lamont

Craig Whyte remains hopeful of concluding his proposed takeover of Rangers before the end of January.

Whyte has been in negotiations with the current owner Sir David Murray since the middle of November.

He had hoped to complete a �£33m deal before Christmas, but due diligence has taken longer than Whyte expected.

Meanwhile, the Rangers Supporters' Trust chief has warned that fans could boycott Lloyds Bank if they continue to deny Rangers funds for squad building.

Whyte considers the matter to be largely in Murray's hands at this stage, with Whyte's lawyers and accountants awaiting responses to a number of queries from the current owner.

He expects that following a period of relative inactivity over the festive period, which he found frustrating, the pace of negotiations will now pick up.

However, if Whyte can conclude a deal soon, he hopes to be able to help Rangers manager Walter Smith strengthen his squad.

On Thursday, Smith bemoaned the current financial constraints at the club, stating that he would be unable to bring in new players unless he sold first.

Stephen Smith, chairman of the Rangers Supporters' Trust, reiterated their stance regarding Lloyds Bank's involvement with the club.

"The sooner Lloyds are disentangled from the running of Rangers Football Club the better," he told BBC Scotland.

"I'm as worried now as I was last year when the manager felt strongly enough to publicly criticise the bank's role.

"We've had a successful Champions League campaign, we're guaranteed at least two more European games, yet there has still been no change in attitude from Lloyds.

"We're challenging for four competitions and that's why the size of the squad is a concern.

"If the manager's saying we need help, why are Lloyds behaving in such a vindictive way towards Rangers?

"If that begins to materially affect Rangers on the park, we will certainly look to take action to try to change that.

"Getting the Rangers family involved in a boycott of Lloyds bank can't be ruled out."

As of September 2010 Rangers' debt stood at �£27m.

While Smith was allowed to conduct some transfer business in the summer - including the purchase of Nikica Jelavic for �£4m - his hands have been largely tied on that front for the past three seasons.

The Scottish champions trail league leaders Celtic by four points, although they have two games in hand.

However, as things stand, Smith will have to challenge in all domestic competitions, as well as in the Europa League, with the same small squad of players.

Meanwhile, across Glasgow, rivals Celtic appear likely to bring in more players during the January transfer window.

Champions League participation over the last two seasons has helped Rangers go some way to alleviating their financial problems.

But failure to win the Scottish Premier League again this term, and thereby miss out on the lucrative Champions League, would reverse that trend and make things even more restrictive for whoever succeeds Smith as Rangers manager next season

[Danny 0]

I have never known a club harder to take over than Rangers. We've had countless rumours, and then stories like the above.

 

It's ridiculous and it's set to go on.

[Stimpy 0]

Fancy this article was wrote about a month ago and they decided to re-publish it to attract some readers. Nothing new in it.

 

Wish we we could be told one way or another.

[stewarty 2,025]

so this is based on a quote from the RST? where's the "ignore" button?

[bmck 117]

The tax issue really must be the thing that's undermining this. The tax issue aside we look a really good buy if you're sufficiently loaded.

[Stimpy 0]

Does anyone have a rough figure of what the tax bill might be?

[Zappa 0]

Fancy this article was wrote about a month ago and they decided to re-publish it to attract some readers. Nothing new in it.

 

The Stephen Smith interview in this article is definitely a word for word copy of what was published on the 7th January, so it's over 2 weeks old now.

 

See for yourself - http://www.gersnetonline.co.uk/vb/showthread.php?24299-RST-Chairman-quot-Boycott-of-Lloyds-can-t-be-ruled-out-quot

[maineflyer 0]

Does anyone have a rough figure of what the tax bill might be?

 

I think that's the wHole problem. No one can predict with any certainty if it's zero or �£50m or anywhere in between.

[craig 5,199]

I thought I had read that SDM would indemnify Whyte against the potential tax liability. If that is the case then it shouldn't hold up the sale. Obviously isn't the case then.....

[pete 2,499]

I think that's the wHole problem. No one can predict with any certainty if it's zero or �£50m or anywhere in between.

 

I am sure I read that it would be about 44 mill. I would imagine it will be between 10 and 50 mill as I don't think anyone would be too worried about a few million as much and a deal would still be done. The 60 million pound question must be why Murray is being so evasive.

1) Does he really want to sell or just steer from a distance to avoid any flack.

2) Does he have so many skeletons hidden in the shadows that selling will be opening a can of worms.

3Will the sale of Rangers affect MIH in some way.(i am thinking on the 50mill shares issue. Was it above board?)

 

I am no expert and these may be stupid questions but they spring to my mind.