The Herald newspaper has returned to one of it's favourite themes by reporting that a property developer has made a £33m bid to buy Rangers.
What exactly that would buy you from Rangers is unclear with the clubs last declared debt being reported at £31m.
The Herald have previously exclusively revealed that a secretive Florida based Scottish billionaire was preparing to buy out Rangers then ran with the bizarre proposal that another Florida based Scot, Graham Duffy was leading a consortium that would be inviting 15,000 fans to invest £1,000 a year for three years to assist the buy out.
Both of those stories have disappeared without trace with no other news source giving the story the credibility of following up and investigating the claims.
Today's 'third time lucky' story from the Herald is only being carried in their paper edition with online viewers denied access to the scoop for now, it appears that this buy-out proposal hasn't been put together in Florida.
Familiar phrases such as 'early stages', 'stock market regulations' and 'fan involvement' can be expected to be attached to the story.
The mystery extent of the debts carried by MIH being supported by Lloyds/TSB are the biggest hurdle to any deal to sell Rangers, until those details are known it's highly unlikely that a reasonably profitable, or at least cash flow rich, leg of the company will be sold off with obvious assets such as Ibrox and Murray Park.
A deal without those assets, being retained by the banks, could be a possibility but highly unpopular with supporters if their club then have to pay annual rent to use Ibrox.
With David Murray requiring a price for his shares, Lloyds/TSB looking for safeguards that their debt will be honoured and the clubs assets of Ibrox Stadium and Murray Park valued at over £100m it's unlikely that the £33m bid from the latest white knight will be acceptable.Familiar phrases such as 'early stages', 'stock market regulations' and 'fan involvement' can be expected to be attached to the story.
The mystery extent of the debts carried by MIH being supported by Lloyds/TSB are the biggest hurdle to any deal to sell Rangers, until those details are known it's highly unlikely that a reasonably profitable, or at least cash flow rich, leg of the company will be sold off with obvious assets such as Ibrox and Murray Park.
A deal without those assets, being retained by the banks, could be a possibility but highly unpopular with supporters if their club then have to pay annual rent to use Ibrox.
SCOOP No. 3!
SCOOP No. 1 The Florida billionairre (Herald have removed the link to their story)
MURRAY CLAIMS NO INTEREST IN BUYING RANGERS
2 comments:
Clueless. If only you knew.
Not difficult to work out. Rangers in debt to the tune of £31M. Murray's asset valued at £100M. Total MIH debt several hundred millions to Lloyds. Simple business logic...Lloyds own Rangers ... why would they sell a distressed asset at a 70% write down.. don't think so.
Post a Comment