Sinkie want to buy Glasgow Rangers football club

[DerMannschaft]

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[DerMannschaft]

Hougang United chief won't raise bid for Rangers FC

Published on Apr 7, 2012

Hougang United chairman Bill Ng will not budge in his bold bid for Scottish football club Rangers FC - despite reports that its debts could rise past the 130 million pound (S$260 million) mark. -- THE NEW PAPER PHOTO: BENJAMIN SEETOR

By Sanjay Nair

Hougang United chairman Bill Ng will not budge in his bold bid for Scottish football club Rangers FC - despite reports that its debts could rise past the 130 million pound (S$260 million) mark.

The Straits Times reported on Friday that he is part of a five-man Singapore consortium seeking to take over the Glasgow outfit, which entered administration last month following tax disputes.

It is understood that they have tabled a bid of around 20 million pounds, of which 12 million pounds will be used to pay off creditors.

But administrators revealed on Friday that monies owed by the Scottish champions stand at 55.4 million pounds, with a further bill of 75 million pounds should they lose a court battle with the British tax authorities.

Read the full story in Saturday's edition of The Straits Times.

 

[GOD IS MY DOG]

this guy is doing what Peter Lim did..........they don't intend to buy the club at all..........just trying to get some limelight !


buying Rangers is like trying to get a ticket on the Titanic............except you know it's gonna sink

 

[Narong Wongwan]

Dun get your knickers in a twist.
Cannot be so cheap la.
I doubt they are serious with such a low bid, just want some cheap publicity.....doubt they have the expertise to run the club.

 

[DerMannschaft]

 

[Maxima]

Football: Singapore tycoon withdraws Rangers bid
Posted: 20 April 2012 1906 hrs

The emblem of Glasgow Rangers football club is pictured at the club in Glasgow, Scotland. (AFP photo/Ian Macnicol)

SINGAPORE - Singapore businessman Bill Ng scrapped his 20 million pounds (US$31.7 million) attempt to take over crisis-hit Scottish football club Glasgow Rangers Friday, citing concerns over the bidding process.

"Recent developments in the bidding process, with unwarranted and unexplained delays, have prompted our withdrawal from the bidding process," Ng said in a statement.

"After lengthy negotiations with a number of key stakeholders, we have serious concerns over the deliverability of the shares on offer to gain control of the club."

Ng said his consortium had become "increasingly uncomfortable and frustrated" with dealing with administrators Duff and Phelps, and "noted the ever-increasing uncertainties and complexities in the bidding process".

The "situation has made the bidding process untenable" and there are "great uncertainties," he said.

However, Ng also said he may relaunch his bid if the administrators failed to reach an agreement with other buyers.

A consortium fronted by former Rangers director Paul Murray stepped aside late Monday, but American businessman Bill Miller remains in the running for the 140-year-old club, according to reports.

- AFP/ir

 

[KoalaJack]

Yes, plus Rangers had some good players too. Frank De boer, Paul Gascogne, Gramme Sounness, etc. all played for them at one time or another.

and the biggest of them all....BRIAN LAUDRUP!!!...A EUROPEAN CUP WINNER W DENMARK

 

[KoalaJack]

this guy is doing what Peter Lim did..........they don't intend to buy the club at all..........just trying to get some limelight !


buying Rangers is like trying to get a ticket on the Titanic............except you know it's gonna sink

agreed on the limelight part...if theyre serious, the offer will be much better..and dont spout this BS abt them being his fav club etc. its an insult to real Rangers fans

 

[evian]

Not surprisingly he has withdrawn his offer for the club citing "frustration at the bidding process". Bulls**t!
He is just another publicity seeker like Peter Lim.

 

[jw5]

I think he would have been happy to take over the club at the level he bid.
The problem is that when the other party knows there is interest, their demands will increase from what they initially stated.
The SG consortium probably does not have that deep pockets, neither are they that super interested that they will pay whatever is being asked.

 

[DerMannschaft]

Rangers administrator likes ´newco´ bid

21 April 2012

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Rangers joint administrator Paul Clark believes the structure of Bill Miller's 'newco' proposal has potential.Miller, an American businessman, has offered to purchase the club for 11.2 million pounds, and has proposed to create an 'incubator' company to buy Rangers' assets to bring them out of administration via a Company Voluntary Arrangement (CVA). But administrators Duff & Phelps revealed that Miller's bid was dependent on whether the Glaswegian club receives a 10-point deduction for the following two Scottish Premier League seasons.

In a statement, Clark said: "We have read the statement by Mr Bill Miller that sets out a vision for the Club, but acknowledges it as being dependent on possible SPL sanctions. We can however say that if these issues could be addressed the structure of the bid has potential."Clark also said the Blue Knights Group, another potential bidder, must make progress in their talks with Ticketus by Monday.

Blue Knights had announced earlier in the week that they were 'stepping back' from the process after their financial backers Ticketus agreed a deal with a Singapore-based group interested in taking over.But the South-East Asian bidders, led by businessman Bill Ng, have also withdrawn their bid, opening the door for the Blue Knights Group and Ticketus to re-negotiate and launch a new offer.

And Clark hopes the pair can put together a deal by Monday. "It should be reiterated, however, that no unconditional bid has been tabled by any party. There have been a number of complicating factors in recent weeks, not least the cloud of possible further SPL sanctions against the club and the withdrawal of one of the parties last week when it emerged they had no formal agreements in place with their partners," he said.

"This, combined with uncertainty regarding the role of Ticketus in any future ownership, has led to delays that we and all Rangers supporters would prefer not to have occurred. "Despite suggestions to the contrary, it is not a case of the administrators refusing to nail down their choice - we can only accept a bid that is unequivocal." "As things stand tonight, the Blue Knights have informed us they are in discussion with Ticketus. We will consider what progress they are making with a view to making a final decision at the beginning of next week."

Rangers went into administration in February and are battling to keep the club afloat after winding up an unpaid tax bill of 75 million pounds. Clark praised manager Ally McCoist and the staff during a difficult spell for the club. "We realise the frustrations of the Rangers fans who want this process to come to a swift conclusion" he said.

"In Rangers' case, we have been in administration just more than two months. However, not every cub in administration will have had to deal with the complex issues that Rangers face - the present owner, Ticketus and sanctions from football authorities." Ally McCoist spoke at his press conference today (Friday) about the need to build for next season - we are keen to see this happen as soon as possible. "The team have been tremendous during this difficult time, as has the wonderful support of the fans."