http://news.bbc.co.uk/sport1/hi/football/13124145.stm
Seems like the takeover is on the verge of going tits up.
Seems like the takeover is on the verge of going tits up.


No doubt the Celtic-Minded administrator will allow it to stay.
Double standards as per usual.
*Thread Closed*

Why would that board, made up of genuine Rangers men scupper the deal?
Craig Whyte's protracted takeover bid for Rangers ran into fresh difficulties last night after talks hit a further snag, with Ibrox chairman Alastair Johnston understood to want negotiations to continue until after the end of the season.
According to a source close to the deal, Whyte's bid to buy Rangers could have been rubber-stamped yesterday. Sir David Murray, the club's majority shareholder, is also believed to have wanted the deal done on Monday, as did Lloyds Banking Group, who are owed ã18 million by Rangers. However another delay has developed, one described as "unnecessary" by the source. Rangers board members were accused of "dragging their heels" after Whyte was left frustrated in his attempt to tie-up the deal yesterday.
The Scottish businessman, who launched his bid to buy Rangers in November, is understood to be deciding whether he can afford to wait much longer. The proposed deal, which was originally valued at around ã33m, would see Whyte take over 75 per cent of Murray's shareholding, with London-based property developer Andrew Ellis becoming a 25 per cent partner. "Everything is ready to go but some members of the independent committee are dragging their heels and want to delay the takeover until the end of the season," said the source last night.
Johnston is part of the independent committee which comprises Rangers board members, including chief executive Martin Bain, John McClelland, Donald McIntyre and John Greig. Although they cannot block the deal going through, they could delay it. "Mr Whyte is in a position to close the deal to buy Rangers immediately," said the source, who warned that the Scottish businessman could well pull out of the talks if this latest hitch is not overcome. "We have a very short period of time for this deal to go through."
Whyte's proposed purchase of Murray's controlling stake in the SPL champions has already been delayed by a ã2.8m tax liability, which came to light last month. A potentially multi-million-pound bill from Her Majesty's Revenue and Customs has also presented an obstacle.

comment by simon_bhoy (U10802489)
posted 14 Minutes Ago
"I don't know, you would think if that was the case then this would never have got as far as it had now. "
look at it this way bear
who was sceptical about dave south african blokes bid - johnston
who has set unrealistic deadlines that he cant control - johnston
who has scaremongered by intimating rangers could go out of business - johnston
who has talked UP the tax issue rather than put a positive slant on good financial performance last year - johnston
i remember traynor (i know i know) mentioning that someone on the rangers board might have been interested in taking over the club at some point (months ago now) - who is the only one with the financial clout to consider this? johnston
who has american backers that might just like the idea of being involved in a "soccer" team? johnston
its conjecture mate - of course it is - but it is the oldest trick in the book as well - drive the price down by scaring of competition (maybe even get the bank to cut a deal if the situation looks bleak) and then BOOM new owners

