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Green Agrees With King
Published : 10 Jun 2012 10:58:41
The two lead players in the takeover of Rangers saga agree on one thing.
Charles Green agrees with Rangers Director Dave King that he will not be at the Ibrox club within a year. Green, who heads a consortium which intends to take over Rangers, sees the challenge of turning around the stricken club as a short-term task. The CVA offer to creditors will be voted on Thursday. King has already asked creditors to vote against the CVA and accuses Green of lacking the funding to take the club forward beyond then, and predicted he would not last a season in charge. Green dismissed the first accusation but admited he sees changing Rangers' fortunes as a relatively quick operation. The former Sheffield United chief executive said: "Dave King said he didn't think I'd still be here in a year's time and do you know what? He's right. It isn't my intention to be here longer than that. If nothing much is added to what I can see on the table at the moment I believe I can get over all the hurdles in a year. I'd be very disappointed if I am not out of the club quickly." Of course, Green is not doing this out of his love for the club. He admitted that his involvement will earn him "£2million in shares, not cash". Green's group have pledged £8.5million for creditors, the vast majority of which is due to be repaid with interest from the club by 2020. Rangers currently owe HMRC more than £21million and that figure could more than quadruple depending on the outcome of a tax tribunal. Green is using any means possible to encourage a positive vote for the CVA offer. He said: "Fans should be urging their politicians to apply some pressure so that the CVA is accepted." Green also insisted the funding from his investors, only two of whom have been named, was already in place and he would not be able to use season-ticket money to fund his deal. He said: "The first-phase funding, £10million, is all there. Yes, I will raise £20million more and I say that well aware of just how difficult it is to raise money these days."