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ST Cash Going Into Escrow Account


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Another sore one for King and the other detractors trying to derail the CVA. Some good stuff here from green.

CHARLES GREEN has been living in fast-forward mode ever since emerging as Rangers’ likely new owner but even he will come to a dead stop on Thursday.

The Yorkshireman last night pinpointed that day, June 14, as the most important date in the club’s history.

Rangers’ creditors will meet on Thursday to accept or reject Green’s £8.5million CVA proposal to rescue the ailing football business and he stressed: “On that day this club’s future will be defined once and for all.”

Green is not underestimating the huge significance of the SFA’s next move in the sanctions row but sees the creditors’ meeting as THE major step in Rangers’ rehabilitation.

A rehabilitation, he believes, that will see Rangers strong enough to compete for the championship and a place in the Champions League.

“That’s where the club has to be,” he said. “And getting Rangers back quickly to the point where they are able to compete at those levels is my priority.”

First up, though, are the creditors and if they throw out the CVA offer Green will go down the newco route, albeit reluctantly even though he and his consortium – “you’ll see their names after the meeting on Thursday” – would save themselves £3m by taking control of the club out of liquidation.

But Green and his people remain convinced agreement is the better option and it would also make it easier for Green to stick to his own timescale and get out in a year, although that will be longer if the SFA withdraw Rangers’ licence to play for a year.

He said: “We could watch the grass grow, or put sheep on the pitch. Make some money in livestock but it would be difficult for clubs in Scottish football to make money without Rangers.”

Annoyed rather than angered by Dave King’s recent and unexpected views, the man who insists the £10m first-phase funding for his Ibrox buyout is firmly in place felt it was necessary to clear up one or two matters.

Green 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.”

Green also revealed that he thought about getting out even before he got in because of the impact his attempt to buy Rangers from Craig Whyte had on his children and one or two of his advisors.

There have been offensive emails, one of which has been passed on to the police, but Green wants to see his project through. “I have been tempted to walk away,” he revealed. “The privacy of my children was invaded by one or two journalists.

“We’ve had the abusive emails and at one point I did think I should stop but the minute you pack up and go is the moment the lunatics are able to take over the asylum. So I’m not doing that.

“I’m not walking away and I believe next Thursday will be the most important day in Rangers’ history.

“The SFA’s decision on how Rangers should be punished will also be crucial but next week is so important.

“The decision taken will determine what model we have to choose and the speed at which Rangers can hope to recover. Fans should be urging their politicians to apply some pressure so that the CVA is accepted.”

Most of Green’s calculations have been done around a CVA being accepted and the SFA stopping short of withdrawing Rangers’ licence to play for a year. If after next Thursday he is all but confirmed as the new owner he will be seeking further talks with the authorities to find a middle ground.

But even if the SFA throw the book at Rangers and expel them Green won’t turn and run. He said: “Jobs will be lost because we won’t be doing anything. We wouldn’t even need groundsmen.

“But even though we (the consortium) will have to pay for upkeep and some wages we won’t lose money. The game will. It might even lose some clubs if TV deals have to be revised and there are no Rangers fans going to matches.

“There will be cutbacks everywhere and surely no one wants that. It’s important for the SFA and Rangers to resolve this for the good of Scottish football. Although none of us working to get this club back on its feet are responsible for problems of the past we accept we must take our punishment.

“We don’t expect we should walk away free but we must discuss this.

"Green has already been doing a lot of talking, mainly with supporters groups and yesterday with local MP Ian Davidson and they have all been given the same assurances.

“No, there will be no selling off or hiving off of the club’s assets. No, Craig Whyte won’t be getting anything other than the £2 I’ve paid him.

“No, I won’t be getting £4m or anything like it for my trouble. I’ll be getting £2m in shares, not cash. No, I’m not waiting on the season-ticket money because that’s going into an ESCROW account and I won’t be able to get my mitts on it.

“Yes, the funding is in place. The investors are in. The first phase funding, £10m, is all there.

“Yes, I will raise £20m more and I say that well aware of just how difficult it is to raise money these days. Getting the first £10m was the hardest part because the people who are in don’t know what they’ve bought into yet.

“And yes, Rangers will be back competing at the top. That’s what we all want – Ally McCoist, the fans, me, the investors. But this was never going to be done quickly. It’s a bit like turning the QE2 and that takes a day.

“It’s a big ship and Rangers are also massive. But this club must be there again competing to get in the Champions League, that’s Valhalla.”

Green hopes that if the CVA is accepted he will be signed off as new owner and ready to go after a 28-day cooling off period. If all goes his way on Thursday he will become the legal owner on a date which will have significance for more than a few Rangers fans, July 12.

It means nothing to Green other than that will be the time he has to raise a further £20m although he said last night that because of the players and staff who have left, Rangers are close to breaking even already.

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If the CVA is declined through proven sinister motives, I strongly suggest that we wage war. Everyone in this situation is accountable, it would be an act of war on our people if someone had to sign a document and try to diminish us. And the cunts that are asking for a dignified silence and would request it even if we were in our grave? They can go to hell and stay there.

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If the CVA is declined through proven sinister motives, I strongly suggest that we wage war. Everyone in this situation is accountable, it would be an act of war on our people if someone had to sign a document and try to diminish us. And the cunts that are asking for a dignified silence and would request it even if we were in our grave? They can go to hell and stay there.

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I think Green is the man to save us.

My only gripe is; if the ST money is going into another account, and cant be accessed, why collect it at all (just now)?

I would have liked to hear him elaborate more exactly what happens to our money, IF the worst happens.

Would we be reimbursed directly from that account?

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It's the customary time of year for renewals. Of course they'd collect it now.

It'll stay in the escrow account earning interest until we find out what is happening with the CVA.

If the CVA is approved it will then be used in the normal manner for club funds. If we go newco it would be used in the newco club funds.

That way any detractors can't play on fans fears that they could lose their money if we newco.

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Let me start off by saying The Green conbsortium is THE only show in town and I believe that it will prove to be good for us. Not because they have the club at heart, but because they will turn their investment into profit.

However, there is a point in Mr Greens statements that I can see where Dave King is coming from. Charles Green says (and I believe) that the 'first phase' of funding is now in place and that he is confident that he can raise another £20m. Dave king says the funding is not in place, which I suppose in a round about manner Green is also saying.

Now I dont like the timing of Dave Kings statement, nor do I like the content. As If DK wanted to save us, he had the same opportunity to do so as Charles Green, yet HE CHOOSE not to. He had the chance to shit or get off the potty, yet he chose to get off and now wants to complain about it!

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It's the customary time of year for renewals. Of course they'd collect it now.

It'll stay in the escrow account earning interest until we find out what is happening with the CVA.

If the CVA is approved it will then be used in the normal manner for club funds. If we go newco it would be used in the newco club funds.

That way any detractors can't play on fans fears that they could lose their money if we newco.

Thats fair enough. But what happens if were newco'd, not accepted into the SPL, and forced to play in division 3. Weve just paid £450 to watch division 3 football?

I know this will never happen, and i'm sure everything will be sorted out. But when asking people for money, they should explain every eventuality. The situation were in, nothing can be ruled out.

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:lol:

You're sharp this morning! :D

I'm always sharp! :(

Btw mate I can't get on to RM at all on my laptop every link etc says it may harm my comp, any ideas as to how I can get round that? Other than use my phone for any smart arses who say that :P

Edit it now let me proceed, it wasnt doing so earlier uk.gif

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I'm always sharp! :(

Btw mate I can't get on to RM at all on my laptop every link etc says it may harm my comp, any ideas as to how I can get round that? Other than use my phone for any smart arses who say that :P

Edit it now let me proceed, it wasnt doing so earlier uk.gif

Yeah, just click "proceed anyway." I think it's because of that avatar someone (Mr Luce?) had which was linked to a dodgy site. It's gone now, but the warnings are still there.

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Yeah, just click "proceed anyway." I think it's because of that avatar someone (Mr Luce?) had which was linked to a dodgy site. It's gone now, but the warnings are still there.

Ban the bastard

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