Rangers FC lodge papers to go into administration

Dempsey

Chris McLaughlin ‏@BBCchrismclaug

spokesman for #Rangers administrators confirms to me that offer of £8.7M for the club was rejected on Monday. Bid was from Stewart & McKenna

John Brown's consortium was rejected on Monday!

Jelle1880

Lol, McLaughlin fails again.

McKenna has nothing to do with Brown's bid.

Dempsey

Jelle1880 wrote: »

Lol, McLaughlin fails again.

McKenna has nothing to do with Brown's bid.

He was actually, John Brown said so last night

Jelle1880

He said so to flush Green out to reveal his backers.

Housebuilders and property developers Allan Stewart and Stephen McKenna said last week that they planned to bid about £11m for the club.

McKenna has now told BBC Scotland he had an £8.7m bid rejected on Monday but insisted that he is not involved with the new group now being fronted by Brown.

BBC

Dempsey

He was apart of the bid rejected on Monday, the consortium going forward doesnt have McKenna involved.

I have very influential Rangers men in the background now.

“I realise there was publicity surrounding Steve McKenna’s Celtic background in the original consortium but he is someone I trust and that move was designed to smoke people out.

“There’s no hidden agenda to this, I have investors from Hong Kong, Australia, America and Britain"

Once again Jelle, you fail!

lubo_moravcik

Jelle1880 wrote: »

That he will be the owner of the assets and can ask whatever the **** he wants to anybody that wants to get them.

So that's Ibrox, Auchenhowie,...

Jelle1880

Dempsey wrote: »

He was apart of the bid rejected on Monday, the consortium going forward doesnt have McKenna involved.



Once again Jelle, you fail!

McKenna has ended his interest in bidding and the money behind his bid wasn't even his, he was just fronting it like Brown is now.

Your post made it look like the bid of Brown's consortium was already rejected, while this is completely unrelated to what may or may not have happened on Monday.

Dempsey

Jelle1880 wrote: »

McKenna has ended his interest in bidding and the money behind his bid wasn't even his, he was just fronting it like Brown is now.

Your post made it look like the bid of Brown's consortium was already rejected, while this is completely unrelated to what may or may not have happened on Monday.

He was part of the consortium that bid £8.7m, who cares what he was putting in.

McLaughlin was correct in what he said and you jumped to discredit him before checking your facts. You pull this shít alot so you can try to discredit a journalist at every turn after that. Its tiresome.

Jelle1880

Fine, he wasn't wrong, you (deliberately ?) made it look like this was the same bid that is now being put in though.

Which it of course isn't.

I can think of other things that are tiresome too btw.

Dempsey

I already posted an article this morning explaining that McKenna was part of Brown's consortium and had left it, my quote from Brown about McKenna's role is in that article. I assumed you read the article properly, obviously you didnt.

TheBuilder

Rumours that Brown knows Green's name isn't on the deeds to MP and Ibrox and that's why he's challenged him to explain what's going on.

TheBuilder

Craig Whyte, Charles Green, John Brown...

What colour is next?

Dempsey

TheBuilder wrote: »

Rumours that Brown knows Green's name isn't on the deeds to MP and Ibrox and that's why he's challenged him to explain what's going on.

Surely there is conditions to Green getting Rangers assets like filing all the paperwork with the SFA to the satisfaction of the SFA, turning Sevco in a football club as opposed to being just a company and him passing a fit and proper person's test? Surely D&P set the deal up so that it can be reversed in the event of him taking everyone for a ride?

TheBuilder

Dempsey wrote: »

Surely there is conditions to Green getting Rangers assets like filing all the paperwork with the SFA to the satisfaction of the SFA, turning Sevco in a football club as opposed to being just a company and him passing a fit and proper person's test? Surely D&P set the deal up so that it can be reversed in the event of him taking everyone for a ride?

That's what you would think, but D+P are definitely not trustworthy.

That and Green hasn't given the SFA any paperwork, all of which is due on Friday for the membership application.

PauloMN

TheBuilder wrote: »

Craig Whyte, Charles Green, John Brown...

What colour is next?

Must sound like Reservoir Dogs in board meetings at the moment:

Dempsey

Grant Russell ‏@STVGrant

Who is moving to 'Rangers newco' & who is refusing? Full list of players' intentions as Kyle Hutton says yes to newco: bit.ly/KDwu91

http://local.stv.tv/glasgow/108240-rangers-crisis-ibrox-and-murray-park-hived-off-to-separate-newco/

Rangers’ takeover consortium has hived off Ibrox and Murray Park to a separate new company.

Here comes the stroke!

Beefy78

Dempsey wrote: »

I know some of the Rangers lads are annoyed with the players that announced their intentions to leave but I dont know how you could expect players to take that leap of faith. If this happened Celtic, I'd expect every player to run, not walk away.

And I'm sure that you'd expect Celtic to respect that that is what the players would want to do.

Rangers need to let these guys go and concentrate on building a squad to have them competative at whatever level they are coming in at and with a wagebill in line with that level. Threatening to take players through court doesn't do anyone any good, least of all the club.

Dempsey

Beefy78 wrote: »

And I'm sure that you'd expect Celtic to respect that that is what the players would want to do.

Rangers need to let these guys go and concentrate on building a squad to have them competative at whatever level they are coming in at and with a wagebill in line with that level. Threatening to take players through court doesn't do anyone any good, least of all the club.

Green plan was to sell these players for the transfer fees agreed in their wage cuts, the loophole the main players have jumped through has seriously undermined his whole business plan. As it stands they are expected to join a company, not a football club. They are right to walk imo.

I'd hate to see Celtic to fall into the hands of an opportunist like Green

A_Sober_Paddy

Dempsey wrote: »

Green plan was to sell these players for the transfer fees agreed in their wage cuts, the loophole the main players have jumped through has seriously undermined his whole business plan. As it stands they are expected to join a company, not a football club. They are right to walk imo.

I'd hate to see Celtic to fall into the hands of an opportunist like Green

Should these players not be sold in the liquidation process in order to pay off the creditors?

Dempsey

A_Sober_Paddy wrote: »

Should these players not be sold in the liquidation process in order to pay off the creditors?

D&P could have done that but didnt. The players were kept to make the club attractive to potential buyers.

billybudd

:pac:

TheBuilder wrote: »

Craig Whyte, Charles Green, John Brown...

What colour is next?

Ah sure get rid of brown and replace with mr.Orange and see what you get :pac:

PauloMN

Dempsey wrote: »

http://local.stv.tv/glasgow/108240-rangers-crisis-ibrox-and-murray-park-hived-off-to-separate-newco/

Rangers’ takeover consortium has hived off Ibrox and Murray Park to a separate new company.

Here comes the stroke!

What's the deal here? So he bought the assets from Rangers (in admin), transferred them to his company, and is now trying to transfer them again to another company? Or have I got it wrong? What would the benefit to him doing that be?

L1011

PauloMN wrote: »

What's the deal here? So he bought the assets from Rangers (in admin), transferred them to his company, and is now trying to transfer them again to another company? Or have I got it wrong? What would the benefit to him doing that be?

Asset stripping, as done to Brighton in the 1990s.

Pompey Magnus

Should these players not be sold in the liquidation process in order to pay off the creditors?

They should have been. D&P rejected £2.5m for Naismith in April, then sold the whole club for just 3m more, completely scandalous.

Jelle1880

PauloMN wrote: »

What's the deal here? So he bought the assets from Rangers (in admin), transferred them to his company, and is now trying to transfer them again to another company? Or have I got it wrong? What would the benefit to him doing that be?

The same like Huddersfield, they're still renting their stadium from the con man that ****ed them over years ago.

A_Sober_Paddy

Pompey Magnus wrote: »

They should have been. D&P rejected £2.5m for Naismith in April, then sold the whole club for just 3m more, completely scandalous.

How on earth is that even legal, so the creditors will getting next to nothing now?

Beefy78

MYOB wrote: »

Asset stripping, as done to Brighton in the 1990s.

Possible although that's a stretch. Many football clubs in England at least have set-ups like this with the club not owning tangible assets like the ground and training ground. It's the prudent set-up as it makes it difficult for an administrator to try to sell these off.

L1011

Beefy78 wrote: »

Possible although that's a stretch. Many football clubs in England at least have set-ups like this with the club not owning tangible assets like the ground and training ground. It's the prudent set-up as it makes it difficult for an administrator to try to sell these off.

If it had been done by anyone other than a new owner who bought a club knowing full well it had little chance of playing in the SPL, I'd be less suspicious.

But it was bought by one...

Pompey Magnus

A_Sober_Paddy wrote: »

Pompey Magnus wrote: »

They should have been. D&P rejected £2.5m for Naismith in April, then sold the whole club for just 3m more, completely scandalous.

How on earth is that even legal, so the creditors will getting next to nothing now?

Looks like it, that said I had been talking to a relative who has acted as an administrator for companies here in Ireland and he said that the liquidators can cancel the deal with Green if they regard the sale as being below market value.

Dempsey

Pompey Magnus wrote: »

Looks like it, that said I had been talking to a relative who has acted as an administrator for companies here in Ireland and he said that the liquidators can cancel the deal with Green if they regard the sale as being below market value.

You'd want to check if thats the case in Scotland though. There is even differences between English and Scottish laws when it comes to insolvency.

BDO wont be involved for a long time yet