The Rangers Saga and Fallout Thread
- Thread starter Ace Modder
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Associate
Walter Smith statement
"I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club.
"I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective - that Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.
"With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the "Newco" basis on which Mr Green is proceeding.
"We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.
"None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the club.
"However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.
"Let's be clear, this is an acquisition designed to stabilise the club and ensure history does not repeat itself.
"We are not in this to take money out of the club but more so to do whatever it takes in a turnaround plan to ensure within a few years the club can be passed on intact and to the right people.
"The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the club inside and out to control its destiny.
"The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.
"I would hope that this offer is fully supported by everyone in the Rangers Family as without them the club cannot and will not survive.
"We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for."
"I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club.
"I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective - that Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.
"With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the "Newco" basis on which Mr Green is proceeding.
"We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.
"None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the club.
"However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.
"Let's be clear, this is an acquisition designed to stabilise the club and ensure history does not repeat itself.
"We are not in this to take money out of the club but more so to do whatever it takes in a turnaround plan to ensure within a few years the club can be passed on intact and to the right people.
"The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the club inside and out to control its destiny.
"The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.
"I would hope that this offer is fully supported by everyone in the Rangers Family as without them the club cannot and will not survive.
"We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for."
Soldato
It depends how binding this whole agreement is with Green, its a nonsense that its taken this long for Smith and co to put their head above the parapit, but its better late than never I suppose, these are the kind of guys you want to own the club, not a leech like Green.
"The message from within Charles Green's camp re Walter Smith-fronted bid is: talk to us if you want to buy club, not admin or liquidators.
"Their investors are looking for a return on the money already spent on legal fees, etc. That shouldn't stop men of McColl and Park's money."
Err Mr Green you will have no supporters if you turn this down.
Soldato
ohh the plot thickens....
This is by far the juiciest story to come out of scottish football since the biscuit tin fiasco of '94.
This is by far the juiciest story to come out of scottish football since the biscuit tin fiasco of '94.
Soldato
I think thats fair enough, Green will have spent a fair chuck of cash at this, and will be looking to make a profit.
Soldato
Nope. Allowing a company to trade while insolvent is a criminal offence. Deliberate non payment of tax is also a criminal matter.
Soldato
Not necessarily, if someone comes along offering more money, BDO can undo the sale. BDO will be thoroughly investigating the sale anyway, i wouldn't be writing this one off as a done deal just yet
Associate
Watty is smart. Green has came in and done all the dirty work, and now Smith is gonna come in, with a clean slate, buy the club from Green giving him a small profit (he obviously has sunk a lot into this in time and legal fees), and start fresh. As far as I know the plan is to buy Ibrox & Murray park from Green, not from Duff and Phail. Walter Smiths blue and white army should be the name of the newco.
SPL or 3rd Div, I'll still be there.
SPL or 3rd Div, I'll still be there.
Wonder if Green was representing these people all along...makes sense since they kept quiet till the end when they could have trumped his offer to D&P earlier.
Associate
I'm not sure if I believe they've been working together from the start, but it's far better than Green is the bad guy instead of Watty, and it's quite a coincidence that they enter today.
Soldato
I went to uni with Douglas Park's son up in Aberdeen 
Associate
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Soldato
Hopefully Sky will put an end to the speculation and confirm finally what the deal will be or wont be with Newco in our out the league.
Soldato
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I'd love for Smith and Dougie Park to be the ones taking over at Ibrox. That's the sort of men they need running the club 
Thats not what anyone wants.
The decision on allowing Newco Rangers into the SPL needs to be taken first. Otherwise the decision is comprised if Sky announce they will renegotiate if Rangers arent allowed in.
Get the SPL together, make a decision, then deal with any fallout.
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