Club Statement

[Bears 0]

http://sport.stv.tv/football/scottish-premier/rangers/244381-whytes-patience-wearing-thin-after-latest-rangers-takeover-claims/

 

 

Prospective Rangers buyer Craig Whyte is understood to be “frustrated and angered” by a statement from the takeover sub-committee, which claimed they were yet to see proof of the necessary funds to run the club.

 

STV understands the businessman, who has negotiated a �£27.5 million deal with Murray International Holdings and Lloyds Banking Group, is exasperated by the claims of club chairman Alastair Johnston.

 

Johnston said the board hadn’t received “a detailed working capital statement demonstrating that there is sufficient funding in place to meet the pressing needs of the club”.

 

However, a source close to the deal told STV: “The move by the board makes no sense at all and is clearly a misguided attempt to further delay or disrupt the deal.

 

“The deal Craig Whyte was putting forward was worth Ã?£52.5 million, more than double the amount which is said to be raised by an unnamed Rangers director.

 

“Mr Whyte is frustrated, angered and his patience is wearing thin.

 

“If the takeover took place not only will the debt be wiped out but, on day one, Ã?£10 million will go into Rangers’ bank account as working capital.”

 

The proposal of a current Rangers director to raise Ã?£25 million of fresh capital was also raised by Johnston, who stated: “Whilst the proposed transaction has addressed the interests of Lloyds Bank, the Murray Group and Craig Whyte, our perspective is solely directed towards the future of Rangers Football Club.

 

"To this end the board has had an approach from one of its directors who wishes the board to consider an alternative funding option. This would involve a fresh issue of new capital to raise �£25 million to be invested directly into the club.

 

“The board believes that it has a responsibility to examine this proposal whilst continuing its review of the Craig Whyte transaction.”

[Zappa 0]

I though AJ's statement was the first reasonable contribution to the whole underhand affair. Well done the chairman and well done the independent committee for speaking up for the club, it's time someone did.

 

I thought AJ's statement was a steaming pile of cow dung and AJ is really starting to piss me off. He took over as chairman under an agreement that his primary goal was to help facilitate the sale of the club and where are we now? He's been about as useful as a shit flavoured tic tac. His statement today has a massive contradiction in it.

[Guest BRIANMC1]

SOOOOOOOoooooooo.....

 

I read this as.....

 

"We don't want to sell to Whyte...... All of our Board like getting paid the way things are.....So one of the old boys who has been part of taking us near to ruin has suggested a way we can raise �£25 mil.....(Thats you the fans by the way but we'll talk about that later) We will still have �£28 mil debt with the Bank and still be owned by the Invisible Charlatan but whatever you the Fans raise will be given to Ally....... Meantime we can still be ran in the same short term , no vision for future way.....Whatya say?"

 

Am I wrong?

[aweebluesoandso 290]

Can someone please tell me when Baldric and his "cunning plans" were co-opted onto the Rangers board?

[Guest BRIANMC1]

Why does it take for the day before a Takeover to be done for 'A Director to say.....Hold on a minute i have an idea'

 

and have they provided proof of funding?

[aweebluesoandso 290]

Totally bad form from the board, in fact it's so far beyond bad form, bad form looks like good practice from here. I am embarrassed for our club, and after what has gone on over the last few weeks with the witch hunt against us, that for me is sinking to a new low.

[alexscottislegend 2,325]

Essentially they say that the funding for the squad leaves something to be desired and that in the wake of this, another director (I hazard a guess: Dave King) has put forward a plan to put 25m into the club itself, rather than Murray's or Lloyds' accounts. Then again, he also says that they are still awaiting more details from Whyte, so one never knows.

 

One would wish that the Bears (me included) had cooler heads ...

 

Dave King is still under investigation from SARS. I do not see how he can make any money available when the SA authorities can freeze his capital. With the sort of cash he is said to have he would have made his move before now, surely?

[Guest Dutchy]

I'd be embarressed if Whyte was allowed to take over and was shown to be a bit of a scunner.

 

Murray's been trying to get rid of Rangers for sometime now, but there's been no buyers. I don't think he wants to stay around much longer and it's now the board, with whatever is going on in their minds, that claim they're looking after the club.

 

That may, or may not be true, but one thing I say is anyone that get's into bed with Ellis, who has already been told where to get off, does not have my trust, never mind a bunch of money grabbing board members.

 

What a disatster, brought on by the bank pressing us on this LOAN.

[Guest Dutchy]

Dave King is still under investigation from SARS. I do not see how he can make any money available when the SA authorities can freeze his capital. With the sort of cash he is said to have he would have made his move before now, surely?

 

Chick Young has just been saying that that matter is nearing an end???

 

Whatever that means?

[aweebluesoandso 290]

Other forums posters are calling for a vote of no confidence on the board? i agree