Despite months of speculation Andrew Ellis has walked away from bidding for Rangers.
After three months of due diligence the mysterious London-based property developer has failed to put in a bid to buy out Sir David Murray’s shareholding in the club.
Recent reports of Middle-East backers have proved unfounded with Rangers announcing that the club is no longer up for sale.
A statement tonight from The Murray Group (MIH) said: “MIH has received interest in its controlling stake from a number of parties. At this time, however, the board of MIH has not been able to secure an offer which it considers to be in the best interests of the Club, its shareholders and its fans.”
The failure to sell the club would suggest that finances will continue to be tightly controlled with Walter Smith unable to pay a transfer fee since August 2008.
Smith and his backroom staff have recently signed new one year contracts but recent activity has all been one way with Nacho Novo, Steven Smith and DaMarcus Beasley all leaving Ibrox with top scorer Kris Boyd expecting to move on when his contract expires at the end of the month.
There’s an interesting split in traditional media reaction to this story typified by the broadsheets, clearly driven by whose camp they are in.
The Scotsman portrays the move as decisive action from Murray ‘David Murray rides out the storm/Murray in no hurry to offload prized asset’
The Herald takes a different tone. Having initially portrayed Ellis as a saviour they quickly became doubtful about the former QPR and Northampton director and are predicting another testing season ahead claiming that ‘right now there are no takers for a club that must limp on’.
The Sun is fairly critical of Murray giving publicity to fans wanting answers to what is going on, the Daily Mail, who expected Ellis to take control last Friday, claim that Murray’s decision not to sell ‘stunned Scottish football’ a view not shared by several rival newspapers.
The Daily Mail does give significant coverage to critical supporter reaction to the ‘stunning’ news that Rangers are not for sale/unsellable.
If proof were needed….
On the day that Neil lennon was announced as the new manager..the sycophantic Scottish press lead with “Rangers to be SAVED” etc; etc.and produce pages of garbage regarding Andrew Ellis.
Now I have no “financial” acumen whatsover….but I took on board what senior Rangers ‘ officials said weeks ago about the situation at the club and realised this ” deal ” was going nowhere.So why this nonsense..that day?? Oh let me think !!
Even this morning there are attempts by the Laptop Loyal to put a positive slant on this…..
Bottom line is..there is no buyer in the forseeable future…if ever…..
There is a huge Tax Bill hanging over the Club’s head..and could be fatal if implemented.
They are still in debt……
These are the facts….live with it.
Strangly if not expected, the Scottish press still fail to mention the complications of accusations by HMRC of fraud, regarding wage payments.
Why anyone would buy a company with a probable fine and repercussions in regarding HMRC dealings is anyones guess.
Add the repulsive reputation of the fans, and I would imagine only blinkered fans would spend the money.
Of course when the fans were offered the chance to spend, they either had neither the means or the inclination to invest in the club.
It will be interesting to see how the concerns of HMRC are reported in the press in the future.
I see the “David Murray is the best guy for Rangers” call has begun with star performer Kirk Broadfoot.