Charles Green: Fact or fiction?

Charles Green came out of nowhere,  strolled into the media room at Auchenhowie – hand in hand with Duff & Phelps – and immediately laid down his intentions for the club.

David Whitehouse proudly proclaimed that Green’s bid had been accepted unconditionally before turning the mic over to Charles himself where he told us all about what he had planned for Rangers Football Club.

The issue that Rangers fans are having now is in the contrast between what Charles Green said then and what seems apparently obvious now.

One of the first things proclaimed by Green was that he felt the difficult period that Rangers had encountered since administration was made worse by speculation and that for the period in which he is involved with the club, anyone will get honest and direct answers to every question.

Great news, exactly what we needed.

He quickly moved onto outlining his personal qualities by boldly clarifying that if anyone ever wanted the facts, to speak to him directly, that he won’t tell lies to anyone and will never make up things that are simply not true.

We then found out that this agreement was a legally binding sale contract and no matter what happens next, the consortium controlled by Green would take over Rangers with the only remaining question being, when?

Green then spoke to us about the consortium he represents. There are 20 individuals and families, he boasted. When coming together, this represented substantial funding evidenced by the bank account in which it’s held – which has been seen by Duff & Phelps. This money is ringfenced specifically for the purchase of Rangers Football Club.

So how would the new-look Rangers ownership be structured? Well, no one investor will ever own more than 15% and there will be a footballing board in addition to a financial board, sounds exciting. Especially when Brian Kennedy spoke of an identical plan less than 48 hours earlier.

There are a great set of names in this consortium he told us, that are excited to get started developing the brand in the likes of Indonesia and Hong Kong. It in for the long haul, desperate to make an even bigger success of Rangers than any before them.

Green was then asked specifically where all of this had come from because in all honesty, it looked as though this bid had appeared out of thin air. His response was that they’ve been working very hard behind the scenes for a substantial period of time and this dictated that they were months ahead of everyone else in terms of planning.

We were then treated to some really strong words in the form of how Rangers will look financially in the future, Green proudly said that under his custodianship the club will never be in debt again as they bring in new cash, committed to fund this club to the maximum.

It was all starting to sound  too good to be true, and he wasn’t finished yet.

He proudly declared that there were Rangers fans in his group and that he fully understood the need for the fans to know what’s going on and be kept informed. “There’s a media office here, I’m accessible at any time”

Unfortunately, there’s a lot been said by Charles Green that seems to contradict what we see before our eyes today.

There is clear and present frustration that Charles Green may very well have been significantly economical with the truth. We now know that his “20 individuals and families” consortium appears to be no more than a handful of people.

His “significant and ring fenced funding to be used specifically for the purchase of Rangers Football Club” appears to be lacking in quantum as displayed by recent revelations that of the 8.5m set aside for the cva, 8.3 of this will be a loan given to the club to be repaid – with interest – before 2020.

When Charles Green said that “under his custodianship, Rangers will never be in debt again”  the polar opposite is in fact true as the club will be purchased with a repayable 8.3m loan – immediate debt if you will.

In recent days we have been made aware that representatives from the Rangers fans groups have attempted to get in touch with Charles Green to discuss concerns only to be told that he’s too busy. Which ridicules his previous statements of promising regular communication with the fans and keeping them updated.  Being accessible at any time is apparently no longer an option for Charles Green.

He confidently declares himself a risk taker, but what sort of risk is he taking right now? Is he risking the very future of Rangers Football Club?

The fact that he’s been in contact with some very serious Scottish Businessmen in recent days trying to raise capital, to not only complete this deal  but to get the first down payment of 2.7m to Duff & Phelps, is very worrying – especially as he could only raise 1m. He’s short already. Duff & Phelps are worried.

We know that he contacted two former members of the Blue Knights consortium attempting to gain access to their funds only to be told to “do the right thing and walk away before it’s too late”.

Charles Green could be a saviour, he could be someone who bitten off more than he can chew and is too proud to hand in the towel, or he could very well be something else entirely.

Advertisements