gisabeer 409 Posted April 18, 2011 Share Posted April 18, 2011 seems steven smith of the RST thinks certain board members are hoping for administration so they can conveniently pick up the pieces at the end of the season for coppers! 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,721 Posted April 18, 2011 Share Posted April 18, 2011 Craig Whyte's protracted takeover bid for Rangers ran into fresh difficulties last night after talks hit a further snag, with Ibrox chairman Alastair Johnston understood to want negotiations to continue until after the end of the season. According to a source close to the deal, Whyte's bid to buy Rangers could have been rubber-stamped yesterday. Sir David Murray, the club's majority shareholder, is also believed to have wanted the deal done on Monday, as did Lloyds Banking Group, who are owed �£18 million by Rangers. However another delay has developed, one described as "unnecessary" by the source. Rangers board members were accused of "dragging their heels" after Whyte was left frustrated in his attempt to tie-up the deal yesterday. The Scottish businessman, who launched his bid to buy Rangers in November, is understood to be deciding whether he can afford to wait much longer. The proposed deal, which was originally valued at around �£33m, would see Whyte take over 75 per cent of Murray's shareholding, with London-based property developer Andrew Ellis becoming a 25 per cent partner. "Everything is ready to go but some members of the independent committee are dragging their heels and want to delay the takeover until the end of the season," said the source last night. Johnston is part of the independent committee which comprises Rangers board members, including chief executive Martin Bain, John McClelland, Donald McIntyre and John Greig. Although they cannot block the deal going through, they could delay it. "Mr Whyte is in a position to close the deal to buy Rangers immediately," said the source, who warned that the Scottish businessman could well pull out of the talks if this latest hitch is not overcome. "We have a very short period of time for this deal to go through." Whyte's proposed purchase of Murray's controlling stake in the SPL champions has already been delayed by a �£2.8m tax liability, which came to light last month. A potentially multi-million-pound bill from Her Majesty's Revenue and Customs has also presented an obstacle. Meanwhile, Walter Smith effectively put himself in the management shop window yesterday by confirming that he would listen to offers when he leaves Rangers at the end of next month, and revealing that he turned down the chance to manage an English Premier League side at the start of the season. Smith - whose side can extend their lead over Celtic at the top of the SPL to four points if they beat Dundee United at Tannadice this evening - will step down and hand over the reins to Ally McCoist at the end of the season, but the former Everton manager has reiterated that he could continue working in football. http://thescotsman.scotsman.com/sport/Craig-Whyte-camp-frustrated-as.6754229.jp 0 Quote Link to post Share on other sites More sharing options...
Guest BRIANMC1 Posted April 18, 2011 Share Posted April 18, 2011 AJ is a personal friend of Kings is he not? 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted April 18, 2011 Share Posted April 18, 2011 seems steven smith of the RST thinks certain board members are hoping for administration so they can conveniently pick up the pieces at the end of the season for coppers! I have the feeling that something like that is going on as well. That is where the end of the season comes in in my opinion. If we can win the League this year and start 10 points adrift next season then it will be a case of clearing the debt with minimal destruction. A new owner picks up the tab for peanuts and everyone lives happily ever after. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted April 18, 2011 Share Posted April 18, 2011 I have the feeling that something like that is going on as well. That is where the end of the season comes in in my opinion. If we can win the League this year and start 10 points adrift next season then it will be a case of clearing the debt with minimal destruction. A new owner picks up the tab for peanuts and everyone lives happily ever after. That's why I've said several times that I'd rather the takeover doesn't happen until after the outcome of the tax case. It hinges on the tax case more than winning the league IMO. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted April 18, 2011 Share Posted April 18, 2011 That's why I've said several times that I'd rather the takeover doesn't happen until after the outcome of the tax case. It hinges on the tax case more than winning the league IMO. I doubt that for the reason that it would also be in Whyte's advantage to have the tax bill nullified. Surely Administration would also be in Whytes 'best interest? 0 Quote Link to post Share on other sites More sharing options...
metlika 0 Posted April 18, 2011 Share Posted April 18, 2011 I doubt that for the reason that it would also be in Whyte's advantage to have the tax bill nullified. Surely Administration would also be in Whytes 'best interest? In some senses yes but wouldn't the board just pick the alternative bid that suits them and that they are probably waiting for? 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted April 18, 2011 Share Posted April 18, 2011 In some senses yes but wouldn't the board just pick the alternative bid that suits them and that they are probably waiting for? I doubt if the board would have anything to say about it I would imagine the administrator would be calling the shots. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted April 18, 2011 Share Posted April 18, 2011 In some senses yes but wouldn't the board just pick the alternative bid that suits them and that they are probably waiting for? I doubt if the board would have anything to say about it I would imagine the administrator would be calling the shots. 0 Quote Link to post Share on other sites More sharing options...
metlika 0 Posted April 18, 2011 Share Posted April 18, 2011 I doubt if the board would have anything to say about it I would imagine the administrator would be calling the shots. Yes so they are jeopardising their own tactics if they let this happen and delay it till the summer. They are probably trying to put Whyte off but if he is interested still and he could still get the club. 0 Quote Link to post Share on other sites More sharing options...
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