Lots of the media salivating this morning about the prospect of Rangers' immediate return to financial health. Personally I'm sure that this Blue Knights consortium will lead to a sustained period of Celtic dominance.
Here's why -
1 A wider ownership base is a desirable outcome...but not in the current situation. At the moment the club needs a leader with deep pockets who can work his way out of the mess they are in. The presence of a consortium will drive such a person away.
2 Paul Murray is not the guy to lead the consortium. His approach (and I know this for a fact) has been to have his mates phone people they know to have cash and ask them to invest. This has included Celtic fans and several from other clubs including one Aberdeen fan who is widely known not to like Rangers. Amateurish.
3 Paul Murray also talks rubbish. He was widely quoted last week as saying it was important for Rangers not to lose players. He specifically said that 11 players would cost £30m to replace. That sounds more like David Murray talking. The 11 players Rangers were likely to lose could have been replaced like for like for about £5m. £10m would have considerably improved the team (assuming you have a manager who knows what he is doing). He is another one who hasn't learned his lesson.
4 The guys who are supporting this consortium better have deep pockets. Rangers fans are not known for taking up share issues, as SDM found out to his considerable cost. Celtic, on the other hand, had the biggest rights issue in the history of football (FACT!). Celtic fans are happy to go into JJB and pay £39.99 for a home top. Rangers fans won't buy their home top for £9.99 unless you are getting a free ticket for a home game (and even that week they didn't buy many!)
Basically what we have here is a relatively unknown guy trying to buy Rangers by using other people's money and getting in bed with Ticketus...sound familiar?
Blue Knights, Green Days!
posted on 10/3/12
And btw..I was one of the first to warn about Mr Whyte. It was the day after he lifted the league trophy despite only having been in the club for about a week. He was clearly a glory hunter. That title was nothing to do with him and he shouldn't have been anywhere near the pitch that day. Some abuse I got for that one!
posted on 10/3/12
'Explain how that would have worked.'
Seriously?
posted on 10/3/12
Yep.
posted on 10/3/12
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posted on 10/3/12
The administrators say they have been talking to other people so other offers may emerge. We'll see.
Some say the "newco" is the best way to go but I'd rather avoid that if possible (which again remains to be seen).
posted on 10/3/12
Former Motherwell chief executive Pat Nevin believes Duff and Phelps's success in reaching an agreement over wage cuts at Ibrox "is a way for Rangers to possibly survive only until the summer".
Former Scotland international Nevin, who was at Motherwell during the Fir Park club's period of administration, told BBC Radio 5 live: "There are two ways out; one is a CVA [company voluntary arrangement] then asking HMRC to look for 10p in the pound and the £49m big tax bill and there's a smaller tax bill - which is considerable too.
"If the HMRC do not agree then there is no route out. Nobody is going to come in and pay £60m/£70m to Rangers because that money will never be recouped.
"They still have massive problems."
posted on 10/3/12
HMRC don't want liquidation. If it takes Rangers a decade to pay back whatever they agree to, then so be it.
If Rangers liquidate it would be shameful, truly shameful.
Also, where were all of these 'bidders' 12 months ago. How can we go from 'the only game in town' to multiple expressions of interest?
posted on 10/3/12
Tim
That's a very good point. They wouldn't touch Rangers with a barge pole a year ago when it was in a relatively healthy state but now they're desperate to get their hands on it when it's on life support.
Very iffy.
posted on 10/3/12
It is weird, policy. 40 expressions of interest? When their state is truly parlous?
The gorilla hasn't gone away after all.
Also, Whyte is linked with Ticketus, or Octupus, or whatever.
It's as murky as it was when Minty was calling the shots.
I'm prepared to be shot down, but I don't think Rangers will liquidate. HMRC will not allow it.
posted on 10/3/12
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