Deal Done At Last - 85.3% of RFC sold for �£1 according to Stock Exchange

[pete 2,499]

Hopefully he'll have a press conference to answer some questions.

 

Has anyone ever heard the man speak?

 

I think his ex-wife probably has. Not sure though.

[pete 2,499]

MIH are suggesting WT are to waive the debt in the future...

 

A loan we don't have to pay back. I hope they don't forget the HMRC.

[Gribz 919]

So only 5 mill in player funding in 1st season.... at least according to that. Wonder when they will clarify the situation, or if they even will.

 

I also wonder if the 5 mill for new players or is this is budget for new players plus tieing up current players who are going to be out of contract.

[metlika 0]

I also wonder if the 5 mill for new players or is this is budget for new players plus tieing up current players who are going to be out of contract.

 

Who knows? That would be another question I would like answered. I am hoping its �£5m straight on players and funds from season tickets/European football can be used to cover wages?

[pete 2,499]

Who knows? That would be another question I would like answered. I am hoping its �£5m straight on players and funds from season tickets/European football can be used to cover wages?

 

I am sure he raised the 1st year investment to 10 mill to renew current contracts.

[Zappa 0]

I am sure he raised the 1st year investment to 10 mill to renew current contracts.

 

I think that might well have been more media bullshit pete. We'll have to wait and see, but don't be expecting what the media have been telling us word for word.

[chilledbear 16]

http://www.heraldscotland.com/sport/spl/rangers/thebig-questions-1.1100097

 

IT is all over.

 

And now it is only just beginning. The saga of the Rangers takeover has ended in victory for Craig Whyte’s bid but what does it mean for Rangers? Whyte has a series of issues to face immediately. The Scottish businessman has been silent, bound by rules governing takeover attempts, but the problems he faces have become all too public. Rangers as an institution have become embroiled in a financial crisis, have faced sanctions from UEFA and now live in a home that needs refurbishment. The team, too, needs investment although it has now been installed as favourites to win a third consecutive Clydesdale Bank Premier League title under a manager, Walter Smith, who will leave in the summer.

 

There is a new management team in the boardroom and in the dressing-room. The big questions lie in wait for them.

 

 

1WHY DID CRAIG WHYTE BUY RANGERS?

 

Everyone is scratching their heads for a cunning plan along the lines of Mr Whyte discovering gold mines under Murray Park. The truth, as one football financier told Herald Sport last night, is probably more prosaic. “He is a Rangers fan from Motherwell and, frankly, he has bought the club at a very low price. When you take away the debt, he has paid very little for a club that, if run prudently, can turn over a modest profit.” Any inclusion in an English League or European Super League would constitute a pools win for Whyte.

 

 

2HOW much has ally McCoist to spend on players?

 

This has been the subject of much gnashing of teeth. Whyte’s camp made it clear from the outset six months ago that as a ball-park figure he was prepared to invest around Ã?£25m over five years in the squad. He has listened carefully to what has been said about the possible need for that investment to be frontloaded. So long as McCoist can make a sound business case for investment, it is understood Whyte will react favourably, but realism will be the watchword at Ibrox. Alastair Johnston, the club chairman, admitted at the annual meeting that Rangers would have to balance the books on transfers, indicating Rangers would be a “selling club”. Whyte has promised investment but knows all too well the reality of Scottish football in 2011.

 

3 What about the dispute with the Inland Revenue, who pays up if Rangers lose?

 

First, Rangers have not conceded defeat in this case. But if the club loses the case over the use of employee benefit trusts, the bill will be sent to Rangers FC plc. Certain confidential agreements have been negotiated to accommodate the possibility of a bill of, say, up to Ã?£10m. If the bill is larger than that, say Ã?£50m or Ã?£60m, and the taxman demands full payment then Rangers will have a problem meeting that. There is no one waiting in the wings with an open cheque book ready to pay, regardless of the total bill. Again, Rangers’ lawyers have told them they have a winnable case. But the Inland Revenue have been told the same. The case has still to be heard and – with the losing party certain to appeal – may not be settled until next year.

 

 

4 Has Whyte canvassed for cash from other sources to invest in Rangers?

 

This question concerns the likelihood of Paul Murray, the Rangers non-executive director, and his “mystery backer” pitching in with extra funds if Whyte should offer shares for cash. This possibility has not been discussed in the Whyte camp. Whyte, presumably, would not be averse to augmenting his war chest to take Rangers forward but there has only been speculation not substance on this matter. The best answer is that it is possible, no more than that.

 

 

5 Is there a chance of fans on the board?

 

Rangers have well-organised supporters’ groups who sought to take over the club through the avenue of a members’ trust. The Rangers Supporters Trust (RST) issued an exploratory document on the matter last year but its plan could not find a viable guarantor. It is difficult for fans to find their way on to boards and even more difficult for them to exert any influence when they get there. The Whyte camp has never ruled out the presence of a supporter on the board but it has not been a priority.

 

 

6 The stadium is in need of an upgrade so how and when will that be done?

 

The most casual of glances at Ibrox reveals a stadium that needs much work. Most visibly, the two JumboTrons at each end of the ground are no longer in operation. But there are a host of pressing problems. The stadium needs urgent attention, some of it may soon be demanded by health and safety authorities. Estimates for refurbishing Ibrox have been set by some at �£5m. This is much too low. The figure is between �£12m and �£15m. Work will be started soon.

 

 

7 Will Whyte sack the board?

 

This is probably too emotive a term, but the reality is that a new, smaller board will be installed. This has little to do with what some saw as obstruction to the Whyte bid but rather an indication that the new owner wants a smaller board with, presumably, a united purpose behind him. The days of certain Rangers directors are numbered.

 

 

8 So is Martin Bain on the way out?

 

Alastair Johnson, the Rangers chairman, has already said he would resign when Rangers found a new owner. Don’t expect Bain to stay on much longer. The chief executive and the new owner will have early talks.

 

 

9 Will Whyte’s role be hands-on or hands-off?

 

The businessman has spent six months trying to acquire the club. He has been subjected to media scrutiny, scorned initially by the independent committee on the Rangers board and spent a substantial amount of money. This is not a plaything for the boy from Motherwell. Whyte will want to set his mark on the club as soon as possible. He is likely to be chairman of the board initially and will be hands-on for the short to middle term at least. But he has a lot of other business interests. It is understood he is keen to bring in people who have both the talent and experience to run a major football club.

 

 

10 IS This a new era, a new image for Rangers?

 

Frankly, yes. The high-spending days are behind the club. The model of the club will be prudent player acquisitions and a balancing of the books. The Whyte camp has always stressed that this was a bid about taking the club forward. This, of course, means ridding the club of its toxic debt but it also means a continuing of the policy to make Rangers a fully all-inclusive club by eradicating sectarian singing.

[Gers4Life 0]

I've very excited but also extremely wary until we know much more about what is happening in the short and long term.

 

Tomorrow should be a great day at Ibrox irrespective of such worries. Let's hope the team keep their eye on the ball and deliver three points.

 

I'm sure frankie that's what we all want mate:)

[Gribz 919]

8 So is Martin Bain on the way out?

 

Alastair Johnson, the Rangers chairman, has already said he would resign when Rangers found a new owner. Don’t expect Bain to stay on much longer. The chief executive and the new owner will have early talks.

 

Bain has given himself some credibility in the last year or 2. He went from being a suntanned yes man early on to then start coming out and defending the club well.

 

Im not sure about his full role and if he has any responsibility on bad financial decisions but Im not sure it would be wise to get rid of him straight away unless a better CE is ready to step in.

 

This will be an interesting one.

[pete 2,499]

10 IS This a new era, a new image for Rangers?

 

Frankly, yes. The high-spending days are behind the club. The model of the club will be prudent player acquisitions and a balancing of the books. The Whyte camp has always stressed that this was a bid about taking the club forward.

 

Whether Whyte pumps in Millions himself or not this is one of the most important issues. Running Rangers in a responsible manner.