Green beats Smith's offer to complete Rangers buy
Friday 15 June 2012
Former manager Walter Smith's late bid to take control of Rangers failed yesterday as Charles Green completed the purchase of the club.
Green was all set to take control at Ibrox for £5.5m when Smith issued a statement calling for the former Sheffield United chief executive to step aside, allowing "people from the Rangers family to stabilise the club."
The astonishing twist ultimately came too late for Smith on the same day that Her Majesty's Revenue and Customs voted against a Company Voluntary Arrangement (CVA), forcing Rangers into liquidation. Green had already been informed that would happen earlier in the week and has set up a newco, re-applying for Scottish Premier League status.
"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," Green said.
"This day is bittersweet for the consortium I represent. From our first involvement we made it clear we would have preferred to acquire this great club through a CVA."
Reports yesterday suggested that manager Ally McCoist was ready to resign amid speculation that he was to be sacked as soon as Green got his feet under the table. Those proved to be incorrect and the former striker "embodies everything that is great about the club," according to the new chief executive.
"Our consortium wants Ally McCoist to remain as manager and we firmly believe he is the man to take Rangers forward," Green said.
PFA Scotland say that existing players have no obligation to stay, but Mr Green insists that if players don't join the newco, they would be in breach of contract, also confirming that Malcolm Murray will be chairman.
Latest in Sport
Paul Scholes: Manchester United vs Liverpool - I don't understand why Brendan Rodgers was not more attacking against Basel
Jesus Christ plays for Chelsea - that's what one in five children thinks
Transfer Talk: Nemanja Vidic to return to Manchester United; Hazard to leave Chelsea; Sunderland want Radamel Falcao
Frank Warren column: Don't bet on Amir Khan landing pay day against Floyd Mayweather
Manchester United transfer news: Kevin Strootman move edges closer
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food