Green Completes Rangers Deal Despite Late Bid

Charles Green has completed the purchase of Rangers’ assets in a deal worth £5.5m, despite a last-minute bid from former manager Walter Smith – believed to be £500,000 greater – for the Scottish club, set to go into liquidation. 

The Ibrox club will enter liquidation after creditors refused a deal to allow it to emerge from administration.

Mr Green said in a statement: ‘Following the formal decision of the creditors’ meeting at Ibrox Stadium today, the consortium I represent has fulfilled its agreement with the administrators and has completed the acquisition of the business and assets of The Rangers Football Club plc.’

‘The transfer of the business and assets to a new company structure has taken effect immediately and the new company is The Rangers Football Club.’

‘An application has already been made by the company to register with the Scottish Football Association and to participate in the SPL.’

According to media reports, Mr Green has offered to make Walter Smith – who won 21 major titles across two spells in charge of Rangers – the club’s new chairman, and also wants to keep Ally McCoist on as manager. 

Meanwhile, The Rangers Supporters Trust has urged fans not to renew season tickets in a bid to put pressure on Mr Green to sell to Mr Smith’s consortium – with a statement from the Trust claiming that the latter is the only bid that would ensure the Rangers family stays united.

Green told RangersTV: ‘We’ve had meetings with the SFA (Scottish Football Association), where we went and introduced some of the new directors to their representation board. We’ve had meetings with the SPL too. Fans have to understand the key issue today for Rangers is not whether Walter Smith, Charles Green, Douglas Park or Uncle Tom Cobley owns the club. Today we are out of the SPL. Today we are not in the SFA. These are problems that we have to deal with to get this football club back playing football here.’

‘If people don’t want to back me because they’re unsure or they have doubts, that’s fine. I’ll be disappointed but that’s life. It’s understandable after what has happened at this football club in the last five or 10 years. What I would ask them is not to hinder us. Where we are today, we feel really let down (about HMRC’s decision to reject the CVA proposal).’ 

‘But if we look back just a few weeks to see where the club was with The Blue Knights’ deal collapsing and Bill Miller going back to America, what were the prospects then? Where we are today is Duff and Phelps are finishing their administration and we will pass over to liquidation with HMRC’s representatives carrying that out. For Rangers Football Club, it’s all about the future now. We are still proud of our heritage and history and we have made sure that is retained too.’