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Whyte backing Green's plans for Rangers
Published : 08 Jun 2012 08:47:03Rss feed
Rangers fans are being tugged in opposite directions ahead of next week's creditors meeting which will decide if the Ibrox club exit administration through a Company Voluntary Arrangement (CVA).
The Light Blues' controversial owner Craig Whyte has agreed to sell his 85% shareholding in Rangers for £2 to Charles Green, who is leading the consortium in place to take control of the club. The former Sheffield United chief executive's group has pledged £8.5million for creditors who will be able to vote on the CVA next Thursday.
Should creditors reject the CVA, then Green would form a newco but Whyte is giving Green's plan his full backing, and said: "I am 100% behind the CVA. I am very much in favour of it. I hope it goes through because it is the best way forward for the club and it will leave Rangers in an excellent situation."
He added: "My shares will form part of the consortium's shareholding and after that I will focus on other activities."
Rangers director Dave King, though, is urging creditors to reject Green's proposal.
South Africa-based King has also called on Gers fans not to renew their season tickets until Green reveals the details of his consortium plans.
"I am opposing the CVA and urge all loyal fans to do the same," the exiled Scot said. "We don't want to be back in a similar situation next season.
"I also believe that all true Rangers fans should not buy any season tickets until full and frank disclosure has been provided by Duff & Phelps (administrators), Mr Green, and Mr Whyte, as to what is truly going on behind the scenes."
In another twist to the story, Green and Rangers' administrators, Duff and Phelps, hit back at King on Thursday night.
Green described King's statement as "breathtaking in its arrogance" as well as "scurrilous and scaremongering".
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