Thursday, August 17, 2017

Green: Rangers takeover finalised

SoccerNews in Scottish Premier League 14 Jun 2012

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Charles Green has released a statement claiming his consortium has completed a takeover of Glasgow Rangers.

Green’s comments on Thursday, apparently confirming the completion of a 5.5 million-pound takeover, came just hours after former manager Walter Smith announced he was leading a rival bid to rescue the stricken giant of Scottish football.

Green, a former Sheffield United chief executive, said he now intends to secure the future of manager Ally McCoist, who was reportedly set to walkout on the club after hearing rumours he would be replaced by the new regime.

“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,” Green said in a statement.

“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.”

Earlier attempts by Green for the club to exit administration through a Company Voluntary Agreement were rejected by Her Majesty’s Customs and Revenue, forcing the 140-year-old club to be liquidated and reformed.

Green made no reference to the eleventh-hour announcement from Smith, who made public his own rival attempt to take control at Ibrox Stadium.

“I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club,” Smith said.

“Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.”

“We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.”

Smith, 64, led Rangers to 10 Scottish championship crowns during two spells in charge from 1991 to 1998 and 2007 to 2011.

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