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Rangers in crisis: Walter Smith should join me or he'll have to fork out double


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Rangers in crisis: Walter Smith should join me or he'll have to fork out double for club, warns Charles Green

WALTER SMITH was last night told to fork out £20million if he wants to grab control of Rangers from Charles Green.

The former Ibrox boss was also advised to ditch the rival bid he and high-profile Scots businessmen Jim McColl and Douglas Park put together and join the Green regime.

The move came on yet another day of drama as Yorkshireman Green finally purchased the assets to form a Rangers newco.

The former Sheffield United chief and his consortium had an agreement with administrators Duff and Phelps to pay just £5.5million if a CVA failed.

And that proved to be the case after a meeting of creditors followed suit with HMRC and rejected the offer of a deal.

But Green had barely taken power when Smith and his consortium launched their shock bid, urging the Englishman to “step aside”.

However, one of Green’s right-hand men, Imran Ahmad – unveiled as a non-executive director – warned it would take big bucks to shift the new men in charge.

And he urged Smith to accept Green’s offer of a position as head of a new football board so he could return to Ibrox.

If he refuses that, only hard cash will allow him to gain control, says Ahmad, of banking company Zeus Capital.

The financial adviser insists Green’s men have shelled out much more than £5.5m.

In his pitch to potential shareholders, Green claimed they could double their money – and now Ahmad reckons the new owners could now get rich from a quick sale.

He said: “What people don’t realise is that although the headline number was £5.5m in terms of what we paid, there’s professional fees and advisory fees that Charles has paid out of between £1m and £2m.

“On top of that there’s operating costs of the club we’ve paid – another £2.5m – so we’re up to £10m.

“I’ve read Walter Smith wanted to do the same deal as us and he’d approached Duff and Phelps.

“But these people are professional investors who are in the deal and I’d expect they’d want to see a substantial return so there would have to be a multiple of what we have paid.”

Ahmad sat beside Green at a press conference yesterday and it was the Yorkshireman who initially urged Smith to join forces with him rather than compete against him.

The new chief executive, who named Malcolm Murray as club chairman, said: “We’d like to form a football club board and it’s in that context I’d raise the matter of Walter Smith, who has announced he wants to acquire the club.

“All I can say is that no one has approached me with a bid to buy the club. It’s effectively me in the hotseat now.

“I want to get rid of the negativity because it’s frustrating. Let’s pull together and if Walter Smith wants to be chairman of Rangers Football Club football board then I’ll appoint him at nine o’clock in the morning.

“Ally McCoist and Walter have been friends for a long time and if there’s a chance Walter will put a bid together then Ally would support Walter. I’d expect that.

“But the reality is there’s no benefit to Rangers having these groups.

“If Jim McColl, Douglas Park, Walter, Uncle Tom Cobley want to be investors then this man (Imran Ahmed) will take cheques off them and put it into Rangers’ bank account – not his bank account or Charles Green’s.

“They can come on the board and be party to what we’re doing. But what we won’t do is sit around and wait because if we hadn’t come along then this club would have closed.

“The big issue facing this club is not who owns it. The big challenge is that as we sit here today we are no longer in the SPL. We’re not a member of the SFA.

“We’re a newco who are applying and letters have gone off already to the SPL and the SFA – asking them to consider the transfer of the shares to allow us to become members.”

Ahmad added: “One of things Walter Smith has said is that they want to do it for the good of the club and Charles’ offer to make him chairman of the football club board is a brilliant idea.

“This is a formal offer, we’d be delighted if he came on board.

“If Walter really wants to help the club then the door is open.

“We bought the club on May 11 when we signed an irrevocable undertaking to buy the club as a newco or CVA.

“We bought the club, we paid for it and now we’re going to run it.

“If Walter really cares about the club and fans then he can come on board and lead the football board.

“If they really cared about the club why would they use a tactic to put supporters off coming to a great establishment and institution?

“They should be embracing us and encouraging the fans.”

http://www.<No links to this website>/2012/06/15/rangers-in-crisis-walter-smith-should-join-me-or-he-ll-have-to-fork-out-double-for-club-warns-charles-green-86908-23896122/

If the figure is correct of £20million to buy out Charles Green consortium. Then get the cheque book out (tu)

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Even if he didn't buy them out, with Malcom Murray as Chairman and Walter as Chairman of the football board as well as a few other credible Rangers men I'd be happy with Green in charge.

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I said £20 million last night...should have joined in with the Euro predictions!

tbh...to own 100% of Rangers for that money is still a bargain!

It might just be that Green is putting out the feelers for him to do what he said he would do and not be in it for long...

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At the start I thought a merger between the two consortium's could have been possible, not now!

This is a straight out power struggle between Walter Smith consortium and Charles Green consortium for complete control.

Never in a million years. The next while should get interesting.

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Never in a million years. The next while should get interesting.

Personally don't believe Charles Green will go completely, they'll need to be some compromise with him. Can see him keeping 15% of shares. But the rest of his consortium selling the rest of the shares to Walter Smith consortium.

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At the start I thought a merger between the two consortium's could have been possible, not now!

This is a straight out power struggle between Walter Smith consortium and Charles Green consortium for complete control.

Wouldn't say it's a power struggle as Green owns the club, we need to back him until he decides he may want to sell.

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Personally don't believe Charles Green will go completely, they'll need to be some compromise with him. Can see him keeping 15% of shares. But the rest of his consortium selling the rest of the shares to Walter Smith consortium.

Yip , but only if they get the margins they have in their plan.

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'if Walter really wants to help". Quite an insult to Walter.

It's not an insult i think Green's consortium know they need the fans on board and with Walter coming in with his offer it's made Green's job that little bit more complex..he's having a wee dig at him i think but wouldn't say he's been insulting :)

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Wouldn't say it's a power struggle as Green owns the club, we need to back him until he decides he may want to sell.

In one swoop Walter has turned the majority of the fan base against Charles Green. This is a power play alright with some underhand tactics.

This is going to get ugly, real fast.

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Personally don't believe Charles Green will go completely, they'll need to be some compromise with him. Can see him keeping 15% of shares. But the rest of his consortium selling the rest of the shares to Walter Smith consortium.

I think he will mate.

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In one swoop Walter has turned the majority of the fan base against Charles Green. This is a power play alright with some underhand tactics.

This is going to get ugly, real fast.

More than likely however fans at the moment are blinded by Walter atm, a bid which is acceptable needs to be found, if not then the games a bogey.

Are people going to blame Walter Smith's consortium if they can't match the price? No, they'll blame Green for not accepting it.

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Unless there is something underhand with Green we have not yet witnessed I think Walter has been advised badly in this. Don't get me wrong, I would far rather have Walter and co in charge of the club, but not by any means necessary.

Green was the one that came in with the money, managed the club, dealt with the press, put the CVA together and ultimately put up the cash to buy the club and deal with the negativity around the Newco.

For McColl and Walter to suggest Green should just walk away and let the 'real Rangers men' take over from here is highly insulting to Charles Green consortium.

The fact the RST are lobbying fans to withhold renewing season books is also reprehensible. I support my club, not my club's owner. My club needs my money.

Walter and his consortium waited until the company was bust and then made a move which to me is far far too late. If they want the club, they'll need to match the price Green wants or they need to get behind him.

The time for Unity was Feburary, to think we still have such splinters in our support is a worrying sign.

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