ian1964 10,720 Posted March 28, 2011 Share Posted March 28, 2011 The Rangers Supporters Trust have called on Lloyds Bank to make clear their plans as Craig Whyte's takeover bid hangs in the balance. The �£33million deal will see the Scottish tycoon take over 75% of Sir David Murray's shareholding, with London-based property developer Andrew Ellis becoming a 25% partner. However, it is understood the bank's desire for an 'exit payment' of more than �£1m is just one of the key stumbling blocks and patience is fast running out. Whyte has targeted Thursday for the deal to be concluded by which time Rangers supporters are expected to be told the club's debt has been slashed to around �£21m from the �£27.1m figure announced in June. RST chairman Stephen Smith said, in these fraught circumstances, the Light Blues fans deserve to be informed of Lloyds' position. "Lloyds Bank can be a convenient whipping boy," Smith said. "It is very easy to paint them as the bad guy in this situation and there are some who may feel excuses are being put in place for the deal not happening. "However, our main concern is with the way that the bank is treating Rangers "We are living in extraordinary financial circumstances where Lloyds Bank have been kept afloat by the taxpayer. "Yet it appears they are refusing to accept a deal which will give them all their money back. "It just doesn't make sense. "If anything, it appears that the bank is trying to devalue the club. "So we would like Lloyds to tell us about their strategy. "We are not talking about breaching commercial confidences, or asking them to come out with figures and percentages. "We want to know their plans for the club and for them to confirm that they are operating normal commercial arrangements with a company the size of Rangers with the turnover of �£50m plus. "They should be able to do that but we have asked on a number of occasions and have been met with a wall of silence. "But as Rangers fans and taxpayers, we are surely entitled to know what's going on. "Anything else is not acceptable in the 21st century." Smith admits the rank and file of the Rangers support have grown tired of the takeover saga. "People are weary with it all," he said. "It has been dragging on for around nine months. "There have been various deadlines which come and gone, the first being in December when there was talk of Walter Smith getting money for the January transfer window, with another being in February. "But meanwhile, it seems the bank's restriction have been detrimental to our abilities on the pitch. "We have had to go with five loan players in our squad, while fighting in all three domestic competitions and in Europe. "Now we are down to one competition, the title race, and that might come down to fine margins. "And if Rangers lose out then Rangers fans will not forgive the bank." No one from Lloyds was available for comment. http://www.teamtalk.com/rangers/6839240/Supporters-chief-wants-answers 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,624 Posted March 28, 2011 Share Posted March 28, 2011 "They should be able to do that but we have asked on a number of occasions and have been met with a wall of silence. No one from Lloyds was available for comment. And yet Frankie was today able to get the bank to confirm that "Suggestions that Lloyds Banking Group is blocking a deal to acquire the club are baseless and without foundation." without too much difficulty. 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted March 28, 2011 Share Posted March 28, 2011 Yes but Frankie is the real deal. 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted March 28, 2011 Share Posted March 28, 2011 I know the RST like publically to question the actions of Lloyds but why don't they release a statement asking Mr whyte to make his intentions / situation clear? 0 Quote Link to post Share on other sites More sharing options...
boss 0 Posted March 28, 2011 Share Posted March 28, 2011 Frankie is a hero - he can walk on water. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted March 28, 2011 Share Posted March 28, 2011 I know the RST like publically to question the actions of Lloyds but why don't they release a statement asking Mr whyte to make his intentions / situation clear? I don't think Whyte is allowed to say anything or he will be guilty of breaking stock-market codes. 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted March 28, 2011 Share Posted March 28, 2011 I don't think Whyte is allowed to say anything or he will be guilty of breaking stock-market codes. Not so according to sone financial experts on FF. The same laws didn't prevent Murdoch speaking when he was tryig to takeover Sky News. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 28, 2011 Share Posted March 28, 2011 Stephen Smith was supposedly on SSN a couple of hours ago, but I missed it. Anyone catch it? 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted March 28, 2011 Share Posted March 28, 2011 Stephen Smith was supposedly on SSN a couple of hours ago, but I missed it. Anyone catch it? Yes mate, he asked questions of the bank and relaid the fears fans have of the club's future. Came across as objective without making any allegations towards any party. Lasted about 10 minutes. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,562 Posted March 29, 2011 Share Posted March 29, 2011 Certainly positive that our voice is being heard. The bank were unequivocal in their denials yesterday so the buck now lies with Whyte and MIH which, IMO, it always has done. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.