Rangers administration: Paul Murray ready to be part of takeover deal but ‘not with Whyte’

By GARETH ROSE
Published on Tuesday 21 February 2012 22:39

FORMER Rangers director Paul Murray has said he would be willing to be part of a possible takeover of the Glasgow club, but admitted he would not be able to do it alone.

Mr Murray has met with fans to discuss possible ways of rescuing the club from its current position.

“Would I come forward and help the club? Yes,” he said.

“But I can’t do that on my own. I would need to work with others. Would I be prepared to do that alongside Craig Whyte? No.”

Mr Murray had attempted to put together a rival bid with his then-fellow Ibrox board member, Dave King, in an effort to block Mr Whyte’s takeover in May.

If he is to launch a new takeover bid as part of a consortium he will have to enter negotiations with Duff and Phelps, the firm tasked with taking Rangers through the administration process.

“I’m sure they are a reputable company and I would be happy to have a conversation with them,” Mr Murray said.

“But it would have been far better to have an independent firm looking after the interests of all the creditors, not just the interests of Craig Whyte.”

He also backed the Rangers Supporters Trust’s calls that in future the club should be protected from sole ownership.

“I don’t think one person running the club is a sustainable model,” he said.

“I think there has to be wider ownership to give the club the best chance of moving forward.”

The club’s future is also clouded in uncertainty because of a tax tribunal relating to employee benefit trusts payments made between 2001 and 2010, which was previously estimated to be worth about £50m, but which Mr Whyte has said could ultimately cost the club £75m.

The Rangers majority stakeholder has yet to release a set of audited accounts or hold an annual general meeting.

“There is a real lack of clarity on finances,” Mr Murray said.

He added: “Once this whole process comes to end, I think Rangers fans have to ask themselves, is Craig Whyte a fit and proper person to own this football club?

“I don’t take any pleasure from saying this but the transaction was always going to be a disaster and that’s the way it turned out. Rangers supporters need to come together and examine all the options.”

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Free2B

Thursday, February 23, 2012 at 09:37 PM

Guess Dave Hartnett didnt want a job with Rangers when he left HMRC : Dave Hartnett : In May 2011 Private Eye alleged Hartnett personally "shook hands" on a deal over a long-running tax avoidance dispute with Goldman Sachs dating back to 2002, without consulting HMRC lawyers, letting the US bank off around £10m in interest.[7] Complaints from HMRC informants that Hartnett personally intervened in settlement cases and agreed to "sweetheart deals" with no explanation or consultation with lawyers have also been published.[8] In October 2011,

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bieldmaster

Wednesday, February 22, 2012 at 11:57 AM

There being a touch of negativity within my comment at#1,! my concionsciousness is prodded to suggest a possible source of the neccessary backing he could consider liasing with such a person,they would have to have ticked all the boxes,met all the criteria ,have limitless resources,without further ado I nominate Rupert Murdoch,a combination of his internationaly recognised talent in the business world plus an in built Aussie panache for anything with a sporting flavour.to say nothing of his forthcoming launch back into "Sunday Sun" paper from this coming weekend. Personaly I think he would enjoy being involved with "Rangers" and "Rangers" desperately need some one of his stature to pull the rabbit out of a magicians hat if they are to survive... There now thats all done and dusted ;Paul Murray has a few connections to complete ;then the "RANGERS "affair is faits accompli. For my part I will sleep better having been a tad more optimisticaly orientated.

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bieldmaster

Wednesday, February 22, 2012 at 02:34 AM

"Jumping from the frying pan into the fire"would appear to be the offer Paul Murray is proposing;"he would not be able to do it alone"his word's on a takeover.Hobson's Choice could equaly express the same sentiment.While not denegrating his fervor to such a venture(notably with cosnsiiderable cash injection from unknown source)he would appear to letting his heart rule his head. As to Craig Why(i)ite suggestion he would be prepared to pay by Instalment the "Tax" overdue;my understanding of dealing with H.R.M.Customs is that they "advise without partiality"who,when and how to expedite any monies they are due;you don't do deal'sl 'with them ;they are like undertakers ,indespensible at the concluding moments of life;they will also be first in queue for payment of any final disbursement that transpires from such finality. Somewhat depressingly scarey;but such is legal life.

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