'AJ expects deal will be completed within 24hours' - Takeover latest

[Bluedell 5,679]

But we can be in fear of anyone who is going to take over the club,unless we know all about them.Your concerns may well happen,obviously we all hope not,but at the end of the day there isn't exactly a line up of candidates waiting to buy the club and we need someone to come in and buy us or we will continue to die.

 

It seems that the fans are being misled as there is an expectation that he debt will be cleared and not just switched to another provider. We've been there already.

 

There may not be any other options but it doesn't mean that it's going to be great for us.

 

However, perhaps i'm reading too much into it, but it'll be interesting to see how much detail is given if/when it's completed.

[CumbernauldGers 0]

Are we now just about there?

[pete 2,499]

P.S. Wake me up in 23 hours. :grin:

[Bluedell 5,679]

There is a lot we don't know about CW,but that doesn't mean it's bad.Rangers FC need a new owner and we are getting one who is going to clear the debt,if we have no debt then we will grow stronger,and he's a bear.

 

But is he clearing the debt?

[ascender 352]

How viable is that sort of thing though given we have limited assets & are playing in the SPL? I thought the only reason the Glazers were able to load man yoo up with debt was because of their massive annual income and subsequent value of their assets?

 

It's all speculation at the moment, but at least the guy is a Bear so surely he deserves the benefit of the doubt as things stand?

[ian1964 10,761]

Again, you know this how ? What if he is merely taking our debt from LBG and shifting it to another entity, secured by our assets ?

 

I would have thought people would be at least a touch open-minded having watched what the Glazer's did at Man U and Gillete & Hicks did at Liverpool. They took on ZERO risk themselves and the debt remained with the club.

 

This could easily be the case at Rangers - you cant say that he is "clearing us of debt" unless you have the inside scoop.

 

Craig,how do you know that he won't?. What part have AJ and the board played in their scrutniy of his take over?.

[Frankie 8,663]

Enjoying these quotes:

 

Rangers chairman Alastair Johnston has told BBC Scotland that he expects Craig Whyte to complete his proposed takeover of the club within the next 24 hours.

 

And Johnston, who confirmed that he is to stand down from his post later this month, insists he has no regrets about raising concerns over the deal.

 

Whyte has agreed terms with Sir David Murray to buy his 85% share in the club and to pay off Rangers' �£22m debt.

 

Whyte is currently in Scotland aiming to tie up the protracted transaction.

 

The Motherwell-born, London-based venture capitalist has been negotiating with Rangers since mid-November.

 

Johnston was part of an independent sub-committee of board members that questioned Whyte's long-term plans for the Ibrox club.

 

On 19 April, Johnston released a statement casting doubts about the level of investment coming from Whyte and asking for time to consider an alternative.

 

A week later, Johnston made something of a U-turn, saying: "The committee are now much closer to viewing Craig Whyte's bid as the right one for Rangers."

 

And now the committee, who only ever had limited powers to delay the deal, no longer stand in the way.

 

"A great deal of work has been done by the board and I'm very proud of that," said Johnston.

 

"I'm confident that the efforts of the board have improved the deal significantly for the benefit of the club.

 

"Our views will come out in the future and I'm comfortable with that, but I don't want to stand in the way of progress. I will resign as intended on 16 May but will be working hard until then to make sure Rangers secure the SPL title.

 

"After that I will go back to being the club's number one fan."

 

One of Whyte's early promises was to provide �£25m over five seasons towards strengthening the playing squad.

 

But a source close to the negotiations told BBC Scotland in early April that the businessman had decided to make available "significantly more" than the average sum of �£5m-a-season to Ally McCoist when he succeeds current manager Walter Smith at the start of next term.

 

The terms of the proposed takeover will see Murray receive �£6m, the amount he paid to take over at Ibrox in 1988.

[ian1964 10,761]

But is he clearing the debt?

 

I don't know,this is what we've been hearing. How do we know he isn't going to clear the debt though?.

[craig 5,199]

Im not saying he is or he isn't.

 

But everyone is writing the guy off without a clue of his level of investment or his plans.

 

It a joke.

 

I will reserve judgement until it happens.

 

It's taken long enough.

 

You DID though. You said he is clearing our debt. So you did say he is.

 

I am not writing him off but people need to realise that this whole notion that Rangers will be "debt free" is not necessarily the case. "LBG free" does NOT constitute "debt free".

 

Until and unless (I doubt we will) know just how he is/has financed us none of us know - yet some are suggesting it as fact.

 

Ian, yes we need a new owner - but, again at the peril of sounding repetitious, we do NOT KNOW if he is clearing the debt. The fact he is a BEAR is a good sign, but not necessarily the best sign.

 

Yes, we need to wait and see - but we simply dont know if his is a good deal or not. WE CAN BUT HOPE

[craig 5,199]

I don't know,this is what we've been hearing. How do we know he isn't going to clear the debt though?.

 

We dont know either way Ian.

 

But in this thread alone people like BD and myself have said something along the lines of "we dont know if he is clearing the debt or not" whilst folks like yourself and BrianMc are saying "he will clear the debt".

 

BD and I are simply saying there is doubt that he will clear the debt.

 

You guys are stating it as fact that he will clear the debt.

 

I know it is a touch of semantics but saying "he will clear the debt" is not necessarily the case and that is dangerous for people to believe it until and unless it is known for sure.