Sir Bribe & Lie

Chapter 4: ‘My Deal’

 
As soon as Craig met with representatives from Octopus and the Ticketus model of using future season ticket sales to fund investments, seemed reasonably familiar to him.
In the past he had used invoices – borrowing money against the sales ledger – to buy companies.
Initially, Octopus agreed to Craig’s request to  £10 million. Craig believed he could raise another £10 million from Rangers’ bank Lloyds. When he concluded it would better to remove the bank, Octopus agreed a further request to provide £20 million.
Craig, here, explains why, on paper, the Ticketus model wasn’t as controversial as would later be made out. As fund managers, Octopus was duty bound to find ways to give investors returns on their money. The firm seemed relaxed about staking its investment on the future of a football club, with a loyal fanbase and guaranteed income for years to come.
However, they did ask for a personal guarantee from Craig to the tune of £27.5 million (funds advanced plus Ticketus’ profit margin), his net worth at the time. Again, Craig explains his thinking behind the deal and the model used to finance it. As long as there was a team called Rangers playing at Ibrox their investments were secure.
As the deal progressed, Craig’s enthusiasm grew. He took over the reins from Andrew Ellis telling him: ‘This is my deal.’
A meeting with David Murray was arranged at his home in the south of France in autumn 2010. Craig found in Murray a man desperately keen to progress a deal and someone not remotely interested in where the money was coming from.
As is normal in such negotiations, the source of funds was not disclosed. Neither was the scale of Rangers debts. Craig’s enthusiasm grew as the prospect of running the club edged closer to becoming a reality. Control of Rangers seemed within his grasp. However, he had no idea what was waiting for him around the corner.”

 

I have remitted the first batch of the executive summaries, with a second batch to follow through the UK night tomorrow. Many of my readers will wake to some truly astounding revelations. I will not be publishing any more full chapter précis.

There are a number of takeaways from the enclosed text in bold italics typeface. It seems apparent that Octopus loaned Whyte £20m with season books as collateral. The fee for such an arrangement was £7.5m. As soon as Whyte paid off The Bank Of Scotland, he only had one million and change to play with. He did not have sufficient funds to pay off the £2.8m overdue payable a.k.a. The Wee Tax CaseAs of May 6th 2011 when the deal was signed there was no possibility of paying HMRC the quantum that they had demanded, a sum that had crystallised on 21st March 2011.

Stewart Regan lied to protect Rod Petrie and the odious Andrew Dickson who asserted that Rangers UEFA licence application was tickety-boo. Dickson knew otherwise. One wonders how Regan, Petrie and Dickson will wriggle free from this revelation.

Note how a meeting took place chez Murray in The South of France in the Autumn of 2010. “Craig found in Murray a man desperately keen to progress a deal and someone not remotely interested in where the money was coming from.” 

One can but conclude that Sir David Murray is not only guilty of bribery, but he is a lying bastard to boot. He was not duped. He did not give a flying fuck who bought Rangers. All he cared about was clearing the bank debt and getting his crooked hands on the lion’s share of MIM.

 

Alistair Johnston provided Sir Bribe & Lie with a private investigator’s report which revealed that Whyte was a ‘fuyant‘ and had no discernible means. Whyte’s apartment in Monaco was rented. Murray claimed that the bank were pointing a gun to his head. He was lying. The stick, £18m and change in a debt ocean of £700m, did not move him. He was drawn like a moth to the flame of a 50% share in Murray International Metals. The price was £18m and change, paid by Whyte.

Craig Whyte revealed that as soon as the deal was signed, Sir Bribe & Lie called Murray Foote, the editor of The Daily Record, with the glad tidings. He dictated a prepared statement, a valedictory. Whyte could not quite believe that even at this moment SB&L was shaping the narrative. Murray took the guise of munificent benefactor passing the mantle to a young Turk. The prosaic fact that Whyte did not have a pot to piss in was the least of SB&L’s concerns. With £1m and change and no income from season tickets, the clock was ticking on Rangers. The Blue Room was booby-trapped. There was a pregnant pause before the bomb went off just over 9 months later.

The following extract from the Red Flags executive summary is instructive:
Shortly before the deal concluded, details emerged that showed the Murray group had hidden vital information from Craig’s lawyers in the ‘data room’ of disclosures. Craig’s team found out about several liabilities, such as the ‘small tax case’ of £2.8 million that needed to be paid. They then found out that Ibrox Stadium wouldn’t be allowed to open for the next season unless a new public address system was installed and the catering facilities were upgraded, costs that were estimated at £1.7 million. Craig was aware of a potential issue with a liability known as the ‘big tax case’. However Murray’s team downplayed the seriousness of the case, suggesting it might only mean a tax payment of between £2-5 million. Craig now accepts his team vastly underestimated not only the quantum of what might become due but also the pressure that was going to be put on by that information becoming publicly available.
Ordinarily, such revelations would be red flags to delay proceedings or ask to analyse matters more closely. However, Craig felt under increasing pressure to complete the deal. In all his business experience he had never encountered such a deal where the seller was the party piling on the pressure.”

Note how Sir Bribe & Lie, the so-called duped innocent, was happy to transgress company law by not disclosing liabilities in the data room. Then there is the forked tongue down play of the EBT fallout. Is there no end to this man’s mendacity?

Sir Bribe & Lie was happy to sell for £1 as he knew he was punting a pig with lipstick. He also knew that Whyte had no means to pay his initial selling price and also pay off the bank.

Whyte thought he was buying a modest enterprise, however:

One stalwart told Craig it was his job to maintain the ‘smoke and mirrors’ illusion that Rangers was a big time football club. The reality was that, compared to other businesses Craig had taken over, it was a reasonably small business. An impression had to be created otherwise for the fans.”

The WATP supremacists needed a myth to wrap their orange sashes around. As one can see from the lower part of the Record front page, they revert to bombs and bullets when presented with a hate figure. They need someone to hate. Ninety minutes is a long time to go wading in Fenian blood. I am now at the top of their list. It’s gone to DEFKLAN 2 on social media.

Some of The People just cannot handle the truth. Would they prefer a bedtime story from Sir Bribe & Lie?

 

 

 

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130 thoughts on “Sir Bribe & Lie”

  1. This is dynamite. Has SBL transgressed company law? Also looks like he could have committed perjury during the Whyte court case. When do law enforcement & the media begin to take an interest in this?

  2. Have just donated via debit card……………….. -7305 last 4 digits. E mail address included.

    Look forward to reading 4-19.

  3. Thank you for the exclusives.

    Stunning stuff.

    With regard to the disposal of the club, SDM told his right hand man, Donald Muir, to ‘get rid of it’. When DM asked me if any of my chums in the City wanted to take it on, I jokingly replied ‘tell SDM if he writes me a cheque for £25m, I shall take it off his hands’. He replied ‘put it in writing and you will get it’. Now, as I like an anonymous and private life, I didn’t take him up on that generous offer.

    At the time of sale, Rangers had got the debt down dramatically thanks to Donald Muir who was hindered constantly by Alastair Johnston, Paul Murray and Dave King. Rangers were servicing the debt and Muir added class to a club with no history of corporate governance. Rangers were not the main problem for Murray’s business. His ‘calling card’ wasn’t the issue. It was the rest of his crumbling empire.

    When I met with CW in October 2011, he confirmed all of the above and wanted to ‘flip’ the business that very month. He said that he had inherited a couple of decades worth of fiscal decadence.

    He was right.

  4. Hi JJ
    As ever an excelent article topping off a truely outstanding output over the last few months. I wonder if we are finally heading into the end game with these new revelations; surely Reagan, Doncaster, et al cannot escape what is now coimbg down the pike?

    Tried to make my normal contribution but was directed to a Pay Pal site that was not allowin me to do it. Any advice/alternative option appreciated

  5. Donation sent 7459-8679-0522-122 also sent one last week 3378-1197-6913-958 I will continue to donate as and when finances permit.

  6. Just got home and found the Craig Whyte e-mail. True to your word JJ. There are not many of you left, thank you. ‘Lang may yer lum reek’

  7. JJ – I’ve been making irregular payments via paypal to your site for a few months now and another one made today ending (**88004). Let me know if this has come through OK and looking forward to my copy of 4-19.

    Keep up the good work and hopefully this month will be financially worthwhile!

  8. 1p donation made as per your instructions with an additional small sum on PayPal. Looking forward to an engrossing read.

  9. Six years since Whyte walked in there for a quid in 2011.

    The scandal endures and rolls on.

    The hilarity and laughter at them rolls on.

    It will go on for decades, for ever.

    The book should be called “David Murray sold Rangers for a quid that was chucked across a table.”

    Sevco is currently not worth a quid.

  10. Hi JJ,
    Additional £5 payment made Transaction ID ending: 991252A.
    For those who don’t know too much about Paypal, make sure you pay for this by selecting the Friends and Family and include your email address in the Note section

  11. JJ, hoping I’m in the next tranche receiving the stuff. Made the £5 sub and followed it up with a 5p donation that included my email in the notes. Cheers, HoboRab.

      1. I genuinely have only just read the full piece of sir bribe and lie.
        Purely coincidental but I made a donation today for £15. You will find me and my rather unique name amongst readers I’d hazard to guess. Will this suffice for a copy?

        My yahoo email is excact same as my paypal address.
        Thanks

  12. Just checked my Paypal Account, recurring monthly donation of £10 coming on the 22nd of every month, ending –CXJUT. Sorry but at this moment can’t make it more. Great read today, more power to your pen.

  13. Hi JJ,
    Irishboy here,I haven’t been able to send any donations lately as I have been in hospital again and have been paid a visit by a black dog.
    To compound my melancholy,it seems that my laptop didn’t wish to spend any more time with me and has departed,leaving me to fathom the workings of my mobile phone so I’m hoping that this message reaches you.
    I would like to be sent 4-19 of the book but have no idea how else to send you the £5 annual subscription and also the token amount for the missing chapters.
    If you do not wish to be paid by paypal(I am unable to access my paypal a/c at the moment),how else would I be able to send you a donation ?
    Hopefully,I will be back on track in the near future and normal service and donations will be resumed.
    I hope you receive this message as I have no other means of contacting you and I would hate to miss out on all the latest news,just as it seems to be coming nicely to the boil.
    As ever,stay safe my friend,Irisboy.

    1. I hope you will soon be on the mend buddy. Everything goes via PayPal. However it’s easier to process via a donation as I can hit reply and then cut and paste. I trust you have now received your copy.

  14. Hello JJ, usual monthly donation sent on the 19/11, 0522x. Additional £10 just sent, 6174T, thanks again for all your hard work, take care, cheers.

  15. Fantastic exclusive yet again. Great to see so many donations and hopefully they will continue to support the site. Am surprised some people have added their email addresses given the Klan’s propensity for intimidation. Donation impending.

  16. Hi JJ ,
    At Last .. found it
    4-19 deposited in junk file.
    Sorry for the inconvenience when you had so much to do over the past few days.
    I hope, as the say, the Devil is in the detail. It will need to be fleshed out considerably before Regan & Co even break sweat never mind ranks. Sfa curiously seldom get a mention in dispatches, while the old SPL and their lawyer are specifically quoted.
    Anyway we will see if it ever gets published, bearing in mind that the events are a of a curiously Scottish flavour which possibly restricts the appeal to a wider audience. Hopefully even the possibility of publication may help to galvanise other “Players” in their attempts to bring about reform. Well that’s my New Year wish.

  17. Brendan Rodgers strategy for CL football is all wrong.

    I was constantly frustrated by Lenny and Mjalby’s CL efforts with the club but with hindsight they got the basics right but regularly let themselves down on in-match-play decisions. Their substitution choices wrecked games regularly.

    They did, however, set themselves out according to the opposition. Very defensive postures against Barcelona paid off.

    The majority of CL scores at this stage are 0-0 or 1-0. Every club is playing it safe. Rodgers doesn’t play safe or intelligently. The result is a club 7-1 embarrassment. He must take the criticism the same as he gives it to players. He must change. He must improve.

    Did he just wipe £30m off our player values last night?

    KT looked out his depth and never a CL left back. Barely a £2m player. Hartson was very critical but stopped short of saying “Tierney” after replays but said “the defence”.

    Even with a solidly performing defence, you don’t play attacking expansive football against PSG. You pull midfield back.

    In contrast, Rodgers knows his defence is shaky so he chooses to illogically play open football against PSG.

    Was it a mad attempt at trying to get a result and make a name for HIMSELF personally? Unfortunately at the expense of CFC reputation?

    In CL football the manager should communicate his tactical intent to a Director and be told “NO” if appropriate. This is what Stand off Directors of Football are for.

    We know Brendan’s strengths and we are learning his decision making weaknesses. It’s about evolution. The club needs a FOOTBALL peer review/ decision support system above Rodgers when the club is at CL level.

    I suggest engaging Sir Alex Ferguson as a CL tactical consultant, giving us a one day pre match advice a week before every CL game to offer timely advice to train and set ourselves out correctly for realistic outcomes.

    At the moment it’s gung ho and caution to the wind.

    The outcomes at the moment are unacceptable and something needs to change. I presume it will be difficult for them but the Board need to take a leadership position OVER Rodgers on UEFA Football. To protect the club reputation and brand and player values.

  18. Wonderful stuff, the Liars, Thieves and Conmen at Aye Brokes & The Sweet F *** All will be quaking in their boots at these revelations – get them out !!!

  19. It seemed to me PSG were sitting happy at 4-1 but when Rodgers pulled off both French boys Dembele and Ntcham, they cranked it up to the max.

    What message was Rodgers sending in Paris? Was he saying the French boys were the problem?

    The PSG bench responded by instructing their players to humiliate us.

    They didn’t appear to wish to humiliate French lads when they were on the park.

    Or is it simply Rodgers two substitutions were ill judged and mince making us worse?

    But pulling off two French lads in Paris…… ill judged!

    1. I guess Rodgers was not thinking of their nationalities. I do not agree that they would have gone easier on the French contingent. PSG know how to exploit Celtic’s weaknesses. Embarrassing sure but they are financially doped up to their eyeballs, just like Rangers under Sir Bribe & Lie.

      1. Culturally, you can offend people without knowing you’ve done it.

        Only well travelled people who have immersed themselves living in other cultures appreciate this.

        The French can be strange.

        Then again a Qatar Prince could have turned to the PSG ceo stating he wanted 7 goals, violla!!! You’ve got it.

  20. Green Aurora November 24, 2017 at 2:07 am

    Is that not just made believe nonsense?

    Dembele came off at 5-1.

    If they wanted to humiliate us for taking off our French contingent then why stop on 80 minutes at 7 and then why did the PSG fans give the Celtic fans a standing ovation at the end, Surely they too would be offended with the subs?

    Then again, don’t let lies get in the way of the truth

  21. JJ, thanks for the chapters which are a very interesting taster, hope the book comes to fruition. There will be many people in a cold sweat that it may be published.

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