ian1964 10,626 Posted March 13, 2012 Share Posted March 13, 2012 SIR DAVID Murray last night held his hands up and admitted he had been "duped" by Craig Whyte and now "deeply regretted " selling Rangers to the Motherwell born businessman. And in his first full and frank interview since the Ibrox club entered administration the former owner insisted he would never even have entered into talks with Whyte if there had been any suggestion he was going to pay for the take-over with £24m worth of borrowed money from Ticketus. Murray who produced legal documents and letters of assurances from Whyte and his lawyers Collyer Bristow to support the sale which included £9.5m being set aside for players and stadium work and an immediate £5m of other working capital also confirmed all negotiations in London and Monaco had been conducted with a "chaparone " to meet Takeover Code rules. Now the man who was in charge for 22 years at Ibrox and invested almost £100m in the club says he is willing to help in "any small way" to ensure Rangers thrive again under new ownership as Scottish football and the country's economy in general needs them. ì David Murray admitted he had been "duped" by Craig Whyte î "I was primarily duped. My advisers were duped, the bank was duped, the shareholders were duped. We've all been duped. Is duped the right word? I think it is." admitted Murray. "There's only so much information. After someone has been disqualified for seven years, it's not that easy to check. And it is also down to the individual, is it not, to make us aware of that. So we did check, to the best of our ability. "But I was in a situation where we had been endeavouring to sell the club for four years. We had received proof of funds. We had a legal document confirming he was going to spend money on players, eventually, once he had paid back the loan. "I'd actually delivered what I'd said I'd deliver in a tough economic time. I'm not defending me _ because I've made a huge mistake here. And I deeply regret, I deeply regret, selling the club to Craig Whyte now. Deeply. "And if the information had been available to me at the time I wouldn't have done it. I did it in good faith. "Any time you sell there are always murmurings. There was no factual information. And in fact shareholders, press, SFA - I mean, I'm first in the line, but everybody was duped. But then slowly it has unravelled." " What we wanted to do was get debt out the club. I've read all this 'debt-ridden club'. Craig Whyte made a statement the club was never in better financial state when he took it over. "I thought: I hope I've done the job right. I've passed it on. This is a guy saying he's going to spend money on players, on health and safety, do the ground up. That is a legal offer document. You would expect that to be honoured." "My Rangers reputation has been tarnished and I accept as I was captain of the ship I must take my share of the blame. "I very much regret selling to Craig Whyte. "He was the wrong person and it was a big mistake .I apologise again for how things have turned out but at the time he seemed the right choice. They weren't exactly queuing up to buy Rangers over a four year period. "He was Scottish, supposedly a Rangers fan, seemingly had the money and was very affable even if his reputation was vague . He and his lawyers met the criteria we laid down in the offer document and if he had delivered we would not be in this position today." he added. "We have all the relevant documents and they have been passed on to the Administrators who visited us as a courtesy and not to 'interrogate' as was reported and understand those will be of use to them in pursuing funds totalling as much as £9.5m held by Collyer Bristow and apparantly unaccounted for." Murray stressed an arrangement with Ticketus had never been mentioned in take-over discussions nor had the sale of "historic " shares in Arsenal FC which he bitterly regretted. He has no preference as to the next owners but warns: " They will need to have a bold strategy to adapt to a changing situation and have deep pockets. I made the wrong choice and hope whoever gets it this time , whether it is a Black, White or Blue Knight is the best one. "It's important the club survives, not just for Rangers supporters but for Scottish football as a whole." http://www.express.co.uk/posts/view/307965 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 13, 2012 Share Posted March 13, 2012 "I was primarily duped. My advisers were duped, the bank was duped, the shareholders were duped. We've all been duped. Is duped the right word? I think it is." admitted Murray. I'll absolutely NEVER believe that Lloyds were "duped" in the Whyte takeover deal. 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted March 13, 2012 Share Posted March 13, 2012 Now the man who was in charge for 22 years at Ibrox and invested almost £100m in the club says he is willing to help in "any small way" to ensure Rangers thrive again Didn't shareholders pay this £100m debt in share issues and the rest was paid by a JJB sports deal? I'm pretty sure, as someone not 'in the know', that he didn't physically walk away from Rangers £100m worse off than when he bought us. "he is willing to help in 'any small way'" - aye please do, keep your nose out. I appreciate the glory years, I understand we had to pay for it some point. Selling to a crook, then remaining silent as our club was driven into a fucking wall, then when we are getting back on track release a statement.. can anyone else smell a P.R stunt? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,092 Posted March 13, 2012 Share Posted March 13, 2012 Now the man who was in charge for 22 years at Ibrox and invested almost £100m in the club says he is willing to help in "any small way" to ensure Rangers thrive again under new ownership as Scottish football and the country's economy in general needs them. So sir David when can we expect your public donation to the RFF? "I was primarily duped. My advisers were duped, the bank was duped, the shareholders were duped. We've all been duped. Is duped the right word? I think it is." admitted Murray. " The IBC and other directors (save Muir & McGill) were not duped were they? Why did you ignore their repeated warnings not to sell the club to Craig Whyte? "There's only so much information. After someone has been disqualified for seven years, it's not that easy to check. And it is also down to the individual, is it not, to make us aware of that. So we did check, to the best of our ability. What checks did you make and who did you entrust with doing the checks? "But I was in a situation where we had been endeavouring to sell the club for four years. We had received proof of funds. We had a legal document confirming he was going to spend money on players, eventually, once he had paid back the loan. If you have indeed got a legal document why are you not taking legal action to enforce it? "I'd actually delivered what I'd said I'd deliver in a tough economic time. I'm not defending me _ because I've made a huge mistake here. And I deeply regret, I deeply regret, selling the club to Craig Whyte now. Deeply. You cannot for one f*&king minute be serious? "I thought: I hope I've done the job right. I've passed it on. This is a guy saying he's going to spend money on players, on health and safety, do the ground up. That is a legal offer document. You would expect that to be honoured." Once again why the lack legal of action to back up your claims "My Rangers reputation has been tarnished and I accept as I was captain of the ship I must take my share of the blame. No shit! "I very much regret selling to Craig Whyte. Not near as much as those who hold Rangers at heart though eh? "He was the wrong person and it was a big mistake .I apologise again for how things have turned out but at the time he seemed the right choice. They weren't exactly queuing up to buy Rangers over a four year period. But you know why they weren't forming a queue don't you? "He was Scottish, supposedly a Rangers fan, seemingly had the money and was very affable even if his reputation was vague . He and his lawyers met the criteria we laid down in the offer document and if he had delivered we would not be in this position today." he added. And that wasn't like a big red light flashing before your eyes? "We have all the relevant documents and they have been passed on to the Administrators who visited us as a courtesy and not to 'interrogate' as was reported and understand those will be of use to them in pursuing funds totalling as much as £9.5m held by Collyer Bristow and apparantly unaccounted for." Oh the administrators, how far into the sale process did you become aware of the relationship between Donald Muir and David Grier, and who employed the services of David Grier via MCR since there was no relationship between Craig Whyte and MCR prior to the takeover of RFC, who paid the bill for the services of MCR (now known as Duff & Phelps)? Murray stressed an arrangement with Ticketus had never been mentioned in take-over discussions nor had the sale of "historic " shares in Arsenal FC which he bitterly regretted. Can you guarantee that your representatives never mentioned either Ticketus or our 16 Arsenal shares in their dealings with Craig Whyte or his representatives? He has no preference as to the next owners but warns: " They will need to have a bold strategy to adapt to a changing situation and have deep pockets. I made the wrong choice and hope whoever gets it this time , whether it is a Black, White or Blue Knight is the best one. No preference for our next owners but yet had a preference for our last owner? "It's important the club survives, not just for Rangers supporters but for Scottish football as a whole." Too f*&king right it's important the club survives pity you didn't take that view last May though eh? 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,626 Posted March 14, 2012 Author Share Posted March 14, 2012 SIR DAVID MURRAY has spoken of the pain he feels for Ally McCoist. 0 comment Related Stories US big guns make move for Gers A BILLION pound American investment bank is behind a Rangers takeover bid Boydy fells Philly on Timbers debut Gers has cost me close to £100m No more Ibrox Knight-mares Kennedy's set to bid for Gers China is a no Go for stopper Dorin McCoist has been left to hold together crisis-torn Rangers as they teeter on the brink of oblivion. Former Gers owner Sir David yesterday confessed to regrets over selling the club to Craig Whyte. He feels Ibrox icon McCoist has been left to carry the can in the season from hell. The ex-chairman admitted: "I really feel sorry for Ally. In the past, there has always been a spine at the club. There was myself, Martin Bain, Walter Smith, Richard Gough, David Weir. It gave us solidity and there was always confidentiality too. The group was tight and nobody leaked anything. "Unfortunately that's not there now. It's like a rudderless ship. "The sooner someone puts a hand on the tiller, the better." Sir David owned Gers for 23 years before selling to disgraced tycoon Whyte for just £1 almost a year ago. He had presided over the Nine-in-a-Row heyday when McCoist was a record-breaking striker and he admitted for the first time that he misses aspects of his old role at Gers. Sir David added: "If I could genuinely help, I would. I have genuinely put in close to £100m over the years. There was a rights' issue where I put in £50m. "We enjoyed a lot of success together. "Now it's all my fault but I accept that I was captain of the ship and I take my share of the criticism. "I do miss the camaraderie and friendship I had with people." Asked if he may return, he said: "It is not on my agenda — today." Sir David meanwhile, has denied he was under pressure from Lloyds to sell the club to Whyte. He said: "Was I under pressure from the bank to do the deal? No. "The bank wanted their money back, of course, and I'd made it clear I wanted out of Rangers. "At that time we were going into recession and people weren't queueing up to buy football clubs. "But if we'd known of the Ticketus thing, we'd not have done the deal. "If Craig Whyte had done what he was meant to have done, we would also be in a far better position." Read more: http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4193120/Murray-My-pain-for-Ally.html#ixzz1p2zLGGHV 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted March 14, 2012 Share Posted March 14, 2012 I expected more from this thread 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 14, 2012 Share Posted March 14, 2012 You ask some very good questions of Murray their forlan! 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,482 Posted March 15, 2012 Share Posted March 15, 2012 Can you guarantee that your representatives never mentioned either Ticketus or our 16 Arsenal shares in their dealings with Craig Whyte or his representatives? Whyte would have learned about Ticketus through the due diligence process. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,482 Posted March 15, 2012 Share Posted March 15, 2012 Didn't shareholders pay this £100m debt in share issues and the rest was paid by a JJB sports deal? I'm pretty sure, as someone not 'in the know', that he didn't physically walk away from Rangers £100m worse off than when he bought us. "he is willing to help in 'any small way'" - aye please do, keep your nose out. He probably did pay close to that for all of his shares (although not all of it went into the club). £50m rights issue, £10m King issue, £6m original purchase, £9m ENIC. There was also purchases from Gillespie and others. 0 Quote Link to post Share on other sites More sharing options...
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