pete 2,499 Posted May 11, 2012 Share Posted May 11, 2012 Brian Kennedy and the Blue Knights are back in the race to buy Rangers after striking a deal for Craig Whyteâ??s shares. Sale Sharks owner Kennedy is currently in New York on business, but told Sportsmail he has reached agreement with the discredited owner to transfer the shares for £1. Kennedy and Paul Murray will now go head-to-head with a mystery UK-based consortium for the right to enter negotiations with creditors over a voluntary agreement which would preserve the clubâ??s history and avoid substantial sporting sanctions, including a three-year European ban. Back in the frame: Brian Kennedy (left) and his Blue Knights are edging closer to a deal for Rangers Kennedy and the Knights came close to acquiring preferred-bidder status before the Bill Miller fiasco left administrators Duff & Phelps high and dry. The entry of an unnamed UK consortium, who have also done a deal with Whyte for his shares, has been the source of widespread scepticism. However, Kennedyâ??s lawyer held a meeting with Duff & Phelps yesterday and was told there would be an answer â??one way or the otherâ?? by today. â??The administrators chose the wrong horse when they went with Bill Miller,â?? said the Scots businessman. â??I wouldnâ??t like to see them make the same mistake again. â??Financially, a newco doesnâ??t work unless you can write a cheque for £35million to compensate for the absence of European football. We would only contemplate a CVA.â?? Crisis club: Rangers' preferred bidder Bill Miller has pulled out Paul Clark, joint administrator, said of the latest moves: â??We have continued discussions today with the parties remaining in the bidding process and good progress has been made. â??We can also state that Craig Whyte has confirmed that he will transfer his shareholding in Rangers Football Club to two of the parties and has indicated he would not be an impediment to a sale. â??We will issue a further update tomorrow (Friday) and can say that every effort is being made to conclude the sale of the club as quickly as possible.â?? The rival London-based consortium is thought to include individuals who have held senior posts at Premiership and Championship clubs. On Thursday night former player-manager Graeme Souness told Sportsmail: â??I can categorically, 100 per cent, deny that I have committed myself to any consortium proposing to buy Glasgow Rangers. â??I have no connection with anyone proposing to buy Rangers.â?? Things are finally moving. 0 Quote Link to post Share on other sites More sharing options...
A Horse With No Name 0 Posted May 11, 2012 Share Posted May 11, 2012 ‘We will issue a further update tomorrow (Friday) and can say that every effort is being made to conclude the sale of the club as quickly as possible.’ They've been spinning that pap for 3 months so don't build your hopes up as had these two inept guys been Celtic supporters they would've went about their task in the same way: Knife in watch them in pain while we twist it! Knife out make out the calvary are coming, no calvary back in with knife! One way or other I hope it's over real soon and we can go about paying all those bastards back! For me top of the list has to be Keevins BUT IT'S A LOMG LIST! If we survive as a club there must be boycotts galore and that means refusing to do business with those that have employed the Rangers haters: Radio Clyde, BBC Scotland... I know you're trying to spread some optimism but don't expect those two crooks to do the right thing. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted May 11, 2012 Author Share Posted May 11, 2012 ‘We will issue a further update tomorrow (Friday) and can say that every effort is being made to conclude the sale of the club as quickly as possible.’ They've been spinning that pap for 3 months so don't build your hopes up as had these two inept guys been Celtic supporters they would've went about their task in the same way: Knife in watch them in pain while we twist it! Knife out make out the calvary are coming, no calvary back in with knife! One way or other I hope it's over real soon and we can go about paying all those bastards back! For me top of the list has to be Keevins BUT IT'S A LOMG LIST! If we survive as a club there must be boycotts galore and that means refusing to do business with those that have employed the Rangers haters: Radio Clyde, BBC Scotland... I know you're trying to spread some optimism but don't expect those two crooks to do the right thing. I agree Duff and Duffer are starting to be a joke but a lot of people in the know are starting to feel confident that something may be announced today. Frankie and Forlan have been dropping hints. Sometimes things come out at the last minute to blow away the bridges as has happened a few times recently. 0 Quote Link to post Share on other sites More sharing options...
A Horse With No Name 0 Posted May 11, 2012 Share Posted May 11, 2012 'Starting' to! Seriously I really (X 1million really's) hope you aren't setting yourself up mate! 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted May 11, 2012 Author Share Posted May 11, 2012 'Starting' to! Seriously I really (X 1million really's) hope you aren't setting yourself up mate! Something has to happen at sometime whether it be positive or negative. Just maybe that will be today. I am realistic enough to know that it also may not be. Without hope life would be pretty boring. 0 Quote Link to post Share on other sites More sharing options...
A Horse With No Name 0 Posted May 11, 2012 Share Posted May 11, 2012 Wonder why these two crooks have been 100% committed to newco or liquidation? My guess is HMRC suspect (as I do) they're in it with Whyte, and have made it clear they'll only deal with a genuine Rangers Consortium! Hopefully (having made millions) they'll give in now and pass it on to BK and TBK's and walk away, their lives still intact! It's ALWAYS been clear that ONLY a genuine Rangers supporting Consortium can return Rangers to life - everything else has just been time wasting! "Hope is a good thing, maybe even the best of things" - has to be realistic hope though Pete, as without that it's just illusion! Time is FAST running out! 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 11, 2012 Share Posted May 11, 2012 senior posts at epl and championship clubs. like Andrew ellis? 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted May 11, 2012 Share Posted May 11, 2012 I still get worried when anyone who's interested in us keeps banging on about Euro money and the need for it to run the club. The club has to be run without that crutch, if they are going to budget with that money included we will be in this mess all over again very soon. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,665 Posted May 11, 2012 Share Posted May 11, 2012 (edited) TBK set ultimatum: http://www.dailyrecord.co.uk/football/spl/rangers/2012/05/11/rangers-in-crisis-blue-knights-set-ultimatum-as-they-launch-last-ditch-bid-to-buy-ibrox-club-86908-23855296/?utm_source=twitterfeed&utm_medium=twitter BRIAN KENNEDY and Paul Murray were mounting one final big push for control of Rangers last night after striking a deal for Craig Whyte’s shares. But they’ll be forced to throw in the towel by lunchtime today and leave the way clear for a raft of last-minute bidders if they’re not given the keys to Ibrox by then. Kennedy, pictured, spoke exclusively to Record Sport last night to admit there are only hours remaining before the clock runs out at noon on the Blue Knights’ plan to save the critically-ill club from liquidation. Kennedy, Murray and their group of wealthy Rangers supporters believe they have to get to work immediately if they are to successfully deliver a CVA – and avoid any need to start the 140-year-old club up again as a newco. But unless they secure preferred bidder status before midday, they will reluctantly withdraw their £8.5million bid from the table and leave it up to the club’s administrators to pick another saviour. A mysterious London-based consortium are among those who flocked to the table following the withdrawal of American Bill Miller on Tuesday. They too have talked disgraced owner Whyte into handing over his 85.3 per cent shareholding but have yet to make a firm cash offer. As Record Sport revealed yesterday, former Rangers boss Walter Smith has been approached about fronting up another of those anonymous parties. But Smith will only be asked to help rush through a proposal if all the rest fall by the wayside which is exactly where Singaporean Bill Ng appeared to be heading at close of play yesterday after falling short for a second time. The Blue Knights, though, are hopeful of bringing Ibrox legend Graeme Souness on board. While Souness has made it clear he is not part of any consortium, he has been in constant contact with Kennedy and could join the new regime. If that happens, Smith might be persuaded to join him at boardroom level – to renew the partnership with Souness that began in 1986. But such a scenario will only happen if the Blue Knights land control of the club today. Kennedy, who was in New York yesterday, had been due to fly to Manchester overnight but he has now changed flights and will arrive in Glasgow this morning. And he warned: “We have now arrived at the end of the road. “If our bid is not accepted in the next few hours then, most reluctantly, we will have to withdraw from the process by lunchtime. “Let me be absolutely clear. This is not brinkmanship or an empty threat. “We have a plan to save this club but my lawyers, Walker Morris, have advised me it will not be possible to execute a CVA unless, on Saturday morning, we begin working, full-time and flat out on due diligence and documentation. Any later than that and our plan cannot be delivered with any legal certainty. “For that reason we’ll be forced to withdraw our offer today and neither I nor any member of the Blue Knights consortium will be left as the last man standing.” The Murray-Kennedy merger first appeared to have grabbed pole position more than a week ago when they believed their offer was accepted during a phone call with administrator Paul Clark. But the deal was then KO’d when Duff and Phelps said they could not secure Whyte’s shares. Instead, they named Miller as their front runner and backed his newco plan as being easier to deliver. Clark’s colleague, David Whitehouse, then infuriated the Knights by denying their offer had been accepted in the first place. A clearly riled Kennedy said yesterday: “For David Whitehouse to say otherwise is a slur on the character of Paul Murray. Paul doesn’t tell lies. “If someone else makes a bigger offer, that’s fine. But it’s about deliverability, not just quantum. “The administrators chose the wrong horse with Bill Miller. I wouldn’t like to see them make the same mistake again.” But we can now reveal, before jetting out to his business HQ in New York earlier this week, Kennedy met Whyte. And he flew across the Atlantic clutching a letter signed by Whyte in which the terms of their agreement were outlined. And that piece of paper could yet prove to be a game changer. Whyte has entered into a similar, potentially much more lucrative, agreement with the London bidders who, it is claimed, have a history of operating in top-level football down south. But their strategy is also dependent on the club, which will run out of funds on June 1, exiting administration through a CVA. And time is fast running out to achieve that. In fact, the person Kennedy has selected as the man to run Rangers, former Scottish Rugby Union chief executive Gordon McKie, has spent the last four days locked inside Ibrox poring over the club’s finances. McKie has now clocked up almost two weeks’ worth of due diligence from the books – which is two weeks’ more than any of the rival bidders. But all his hard work could yet count for nothing if Kennedy and Murray decide they can afford to wait no longer. Edited May 11, 2012 by Frankie 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted May 11, 2012 Share Posted May 11, 2012 Is anybody asking them who's paying the bills till a CVA is sorted? 0 Quote Link to post Share on other sites More sharing options...
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