Charles Green Articles from UAE Newspaper The National.

[ForeverBlue_Since91 2,895]

DUBAI // Charles Green, the chief executive of Rangers Football Club, has told the club's supporters that while the financial situation at the beleaguered Scottish club is now strong, plans need to be put in place to cope with the potential for "seven years of famine".

The Englishman, backed by an international consortium, acquired the business and assets of Rangers last summer for £5.5 million (then Dh31.5m) after the debt-ridden club had gone into administration in February.

Rangers, having floated on the London Stock Exchange's junior Alternative Investment Market in December, are now on a firmer financial footing, leading some fans to question the need to sell the naming rights of the club's famous Ibrox Stadium.

Green accepts such deals are "always an emotive subject", but argues fiscal discipline is essential.

"I reply by quoting part of the Bible and how seven years of feast is followed by seven years of famine," he told The National.

"At the moment, we are in a feast: we have 48,000 fans coming through the turnstiles, we have cash in the bank and are in a very, very positive zone. But there will be bad times as well.

"What we have to do is run this not in the hope that someone like David Murray [Rangers' former owner and chairman] has got a credit card or that the bank will give us an overdraft. We have to run it where we work our assets, monetise what we have and spend it wisely."

Green, who it is understood assured fans the word "Ibrox" will remain part of the stadium name, said that while some of the money raised through Rangers' flotation has been spent on the acquisition of Edmiston House, a three-storey building next to Ibrox that will be converted into a megastore and members' club, the majority of the finances remain untouched.

"The idea is not to spend money and see it disappear, but rather bring recurring revenue through memberships and retail," he said, adding that the club hope to announce the kit manufacturer for next year within seven days.

"It will be one of the big names in soccer and the shirt sponsor will follow soon after."

On the pitch, the club remain prohibited from purchasing players as a condition of gaining membership of the Scottish Football Association. "Money is being put in a piggy bank" for Ally McCoist, the Rangers coach, Green said.

"Of course, we can't buy players until next January, but we would expect to bring in a group of players out of contract in the summer and they could sign from September 1," he added.

The Rangers flotation in December saw Green raise £22.2m through large institutions as well as smaller investors, including fans of the club.

The shares, which started at 70 pence, hit a record high of 93p on December 27, but have fallen in recent weeks and were yesterday trading at 80 pence.

The company, according to data provided by Reuters, is now valued at about £53.2m and Green has said he sees no reason why, provided they return to the top tier of Scottish football, the club's turnover cannot in time exceed £100m without television revenue.

gmeenaghan@thenational.ae

Follow us @SprtNationalUAE

[Dennis 1,011]

Wish he had said the famine was over.

[ForeverBlue_Since91 2,895]

Wish he had said the famine was over.

I am just waiting for the Scottish media to print something about this. How racist and "bullish" his comments are.

I have never read a bad article from Charles Green the man is quality.

[ritchieshearercaldow 22,242]

Oooooh Famine the taigs don't like that word.

Oor Charlie he likes a wee dig

[TunnyLoyal 1,136]

That's my mate who wrote that article. He stays in Dubai now.

[Jonnyjardine 20]

"At the moment, we are in a feast: we have 48,000 fans coming through the turnstiles, we have cash in the bank and are in a very, very positive zone.

But there will be bad times as well."

Nonsense Charlie. This statement is absolutely back to front, my view.

Where we are now is NOT the Feast time with 48,00 fans at games. We will always have that......... as a starting point.

Where we are now is the Famine. The feast comes when we hear the Champions League music at the start of a game at Ibrox.

[offshoreworker 204]

OH CHARLES YOU NOUGHTY NOUGHTY BEAR YOU

[Non_Sucumbi 876]

Can we sing that when we're back on top

"oh the famine is over

The Rangers are home..........."

[elephants stoned 2,994]

Good article and Charles has been working like a horse to spread the Rangers word this week, the mans a grafter thats for sure.

[BearAbroad 42]

Good article and Charles has been working like a horse to spread the Rangers word this week, the mans a grafter thats for sure.

It is refreshing having someone in place who is willing to work hard to promote the club and develop its commerical potential. It certainly makes a difference in comparison to the incompetent Bain, who probably spent half his day surfing the internet and the other plotting for ways to increase his already swollen pay packet.

[elephants stoned 2,994]

It is refreshing having someone in place who is willing to work hard to promote the club and develop its commerical potential. It certainly makes a difference in comparison to the incompetent Bain, who probably spent half his day surfing the internet and the other plotting for ways to increase his already swollen pay packet.

Its incredible that an experienced businessman like David Murray would hire an ex barman and model like Bain, to the post of CEO of a club the size of Rangers. Something more to it if you ask me.