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Smith consortium withdrawing bid ??!


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And what about the walking away quote Ally is famous for now?

 

They want him to just forget that?

 

the guy making the thread points out the toll this is clearly taking on ally.

 

it might be best for super to do walking away now we are stabalised. I don't really think he will but you can see he's not happy. I feel for him greatly.

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the guy making the thread points out the toll this is clearly taking on ally.

 

it might be best for super to do walking away now we are stabalised. I don't really think he will but you can see he's not happy. I feel for him greatly.

If he wants to leave for health reasons of course it's fine, but we all know FF will be suggesting it as a form of protest against Green.

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Rangers: Walter Smith group drops bid for club

 

The consortium led by former manager Walter Smith has withdrawn its offer to take over the 'newco' Rangers.

 

Smith announced a last-minute bid, shortly before Charles Green completed his purchase of the Ibrox club's assets in a deal worth £5.5m.

 

But the group are stepping back after talks with Green.

 

"We very much hope the verbal assurances they provided to us - and the public statements made - are adhered to," said Smith.

 

Green was quick to invite Smith and his backers on board, offering to take the 64-year-old on as chairman of the football club.

 

However, Smith and his associates have declined to combine forces with Green's consortium.

 

"I would like to clarify the background to the offer of £6m for the assets of the club which I announced on Thursday," read a statement from Smith.

 

"The offer was made to the administrators before the Charles Green consortium had concluded their transaction to acquire the assets.

 

"We felt it necessary to have a fall-back position to secure the club's future. We have since made the same offer of £6m to the Green consortium through Zeus Capital.

 

"Our offer has been rejected and they have made a counter-offer inviting us to join their consortium.

 

"However, the current business plan is not in accord with our understanding of the present circumstances of the club and the way forward, but we would prefer to leave them to proceed in their own way and we wish them good luck in their endeavours.

 

"Members of our consortium had met with Charles Green and Zeus Capital prior to the CVA (company voluntary agreement) meeting and it had been agreed that we would be provided with significant information which would give us comfort as to the identity of the consortium members, their strategy and their funding capacity.

 

"This information had not been forthcoming by the date of our offer.

 

"We are therefore withdrawing completely from the process to enable Charles Green and his consortium to move forward.

 

"We very much hope the verbal assurances they provided to us - and the public statements made - are adhered to and that the club will therefore be financed and managed with appropriate governance and can go forward in a sustainable manner.

 

"We wish the new Rangers Football Club every good fortune."

 

Smith won 21 trophies over two spells as manager of Rangers but the club, who went into administration in February, are heading for liquidation, prompting Green's purchase of the assets.

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"We are therefore withdrawing completely from the process to enable Charles Green and his consortium to move forward.

 

Because they were not shown the funding et al before the CVA meeting, they actually made a bid but now withdraw it because of the backing was not shown. That sentence of The Gaffer does not make sense to me. I do assume that they still agree that Green's way ahead is a way ahead for Rangers, else they would sure have stayed in the hunt.

 

That said, nothing stops them from coming back at a later date ... after the dust has settled.

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Guys more bad news: Lawyer connected to fmr Rangers manager tells #c4news "there's a massive fraud in Rangers waiting to come out"

 

Is he going to tell us the rumour again? The one saying that Green knew in February that D&P would only sell to him? Aye right. Over to the doom-singers then.

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Is he going to tell us the rumour again? The one saying that Green knew in February that D&P would only sell to him? Aye right. Over to the doom-singers then.

 

Something to do what was said at agm re Bain/Murray about a payment

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