Whyte offer rejected rumour - denied by Johnston

[Bluedell 5,679]

We wouldn't be debt free, far from it, we'd just owe the money and quite possibly more money to someone else or some other bank.

 

That's where the support have been misled. Newspaper reports stated stuff like "A deal would also see Rangers' debt wiped out and significant funds made available to sign new players." and Whyte has done nothing to correct this misconception.

 

If what you have said is true then Whyte has obviously then been misleading people in a Murrayesque manner, and it's out of the frying pan.....

[Zappa 0]

So season ticket renewal deadline was yesterday then eh?

[buba3d 0]

those pricks on the board are happy to let the club go into administration.

[BrahimHemdani 1]

[1] I presume that you mean "from an offshore company"?

 

[2] So you are saying that Whyte never had any intention of clearing the debt, and therefore presumably he was misleading the support?

 

[1] Correct, sorry about that. The offshore company presumably has money or is backed by people with money (though it is possible it may have to borrow some, more likely it would be equity based finance); the offshore company lends the money to Rangers secured on Murray Park (which has been revalued a number of times recently); the terms of the loan may or may not be better than the existing terms with LBG (though I don't see how they could be better); Rangers use that money to pay off most but not all of the LBG debt.

 

It is not as if Whyte is "giving" Rangers any money all that is happening is that Rangers trade one lender for another, a pointless exercise in my view, since so long as they don't breach their current banking covenants there is not much LBG can do about it.

 

[2] I am not sure what Whyte himself has said but it does seem that the support have been misled, by whom or for what purpose I am not sure.

[BrahimHemdani 1]

That's where the support have been misled. Newspaper reports stated stuff like "A deal would also see Rangers' debt wiped out and significant funds made available to sign new players." and Whyte has done nothing to correct this misconception.

 

If what you have said is true then Whyte has obviously then been misleading people in a Murrayesque manner, and it's out of the frying pan.....

 

What was missing from that quote was "A deal would also see Rangers' debt to LBG wiped out ........"

[BrahimHemdani 1]

Did we not think this was the case all along? I'm sure the wording I read from "sources" was that the debt to Lloyds would be cleared therefore taking the immediate pressure off, but I assumed the debt was just being refinanced on more agreeable terms somewhere else.

 

Yes, but we don't know what the terms are elsewhere.

 

The worry would be that "elsewhere" would want to sell Murray Park or other assets, to get its money back.

[BrahimHemdani 1]

Until the support are in an informed position to form an opinion on what is the more suitable way forward, we are in the dark.

 

At the moment I cannot see how being debt free, with a new owner and new ideas, can be worse than the status quo and our failed board of directors. (if we are indeed to be truly debt free.......)

 

We're not, that's the point.

[Guest Ari Gold]

The simple fact is that Whyte does not have �£52m of his own funds to purchase and finance Rangers - the money he needs would be financed, we would be in debt to another finance house, the terms of which may be even less favourable than those of lloyds.

[BrahimHemdani 1]

[/b]

 

 

Sorry just dont and cant beleive the op, nothing against him but we have heard so much BH over this i', not about to beleive a poster on an internet forum.

 

Amazing how people in the know only come out with stuff after other things have been said in the papers.

 

I was wondering if you meant BS (as in bull****) or from BH as in me?

 

Anyway I posted the details of the Monday 19th D-day and it was proven correct as SDM, Whyte and LBG were set to go on that date but stopped by the "independents".

 

I posted this information today as soon as I got it from my source and if I say any more about the source it will dry up and he would get lynched amongst other things.

 

Believe me or don't but at that point I had not read anything in the press, I don't buy the Record or the Times.

 

The papers will likely have the story tomorrow but remember you heard it here first.

[CumbernauldGers 0]

I was wondering if you meant BS (as in bull****) or from BH as in me?

 

Anyway I posted the details of the Monday 19th D-day and it was proven correct as SDM, Whyte and LBG were set to go on that date but stopped by the "independents".

 

I posted this information today as soon as I got it from my source and if I say any more about the source it will dry up and he would get lynched amongst other things.

 

Believe me or don't but at that point I had not read anything in the press, I don't buy the Record or the Times.

 

The papers will likely have the story tomorrow but remember you heard it here first.

 

 

Meant bull shit sorry mate.

 

Not a go at you as i dont know you but wait to hear from official sources before worrying about anything.