Green: Gers finances fantastic
Charles Green has described Rangers’ financial position as
“fantastically strong” as he seeks to mastermind a return to the
The Irn-Bru Third Division club announced earlier this month
they would seek admission to the Alternative Investment Market of
the London Stock Exchange as they continue to realign their
finances following the liquidation of the ‘oldco’ club and the
acquisition of its assets by Green’s consortium for ?5.5million in
Green, who hopes the process will be completed before Christmas,
insisted Rangers are in a sound financial situation and maintained
that links with Ticketus, who struck a controversial agreement with
former owner Craig Whyte, are in the past.
Chief executive Green told TalkSPORT: “Ticketus don’t have any
involvement whatsoever. They were involved with Craig Whyte, which
caused a problem, and previously to that David Murray used them
when he was running the club.
“They are no way involved. The season ticket money this year
came into the club and that’s sat in the bank.
“In our current financial year, which ends on June 30, we will
have had two seasons’ season tickets, because next year’s season
tickets will go on sale in May.
“By the end of June we’ll have collected, so I’ll have another
pile of cash before this (financial) year ends.
“Rangers is in such a fantastically strong position without the
Clarifying his use of “I”, Green added: “I am Rangers. I’m
running that club, I’m making the decisions and I’m going to
protect that club with my life. No-one’s ever going to abuse
“I’ve started to catch Rangers-itis. What I do see now is an
opportunity to finish it and take it back to greatness.
“I won’t leave before Champions League music’s playing at Ibrox.
But I’ve already changed my mind once, so it may be I end up
changing my mind until we win it (the Champions League).”
Green says the player wage bill has been cut from ?27million to
under ?7m and that Rangers are in rude health.
He added: “The club has got cash, it’s still got no debts. In
terms of the monthly requirements for cash, we can’t run out of
Green believes the flotation will only improve Rangers’
He added: “If you look at the valuations, Manchester United is
valued on the New York Stock Market at ?1.2billion. Everton is up
for sale at around ?300-400million.
“So as great as these clubs are, how can they be valued at those
amounts and Rangers at only ?30million? It’s inconceivable that
those values will remain.
“I got into trouble recently for saying that Aston Villa, and a
number of other clubs, make money because they are in the Premier
League, but they are not the drivers of that wealth and value.
“The reality is fans want to see the top teams play each other.
They want to see Bayern Munich play Barcelona, or Real Madrid play
Manchester United, and it’s those games that will drive the future
Despite his optimism, Green would welcome support and has
invited former manager Walter Smith, who launched a late rival bid
for Rangers, to join the board.
Green said: “I’d like to get him (Smith) on the board, as an
advisor. He comes to the games.
“What Rangers need at the club now are people who understand
football, who understand Rangers and understand the culture.
“There isn’t anyone on the board at Ibrox now who knows anything
about football and that includes me. Someone like Walter would add
He also denied Ibrox is for sale.
“The email and the blog I saw saying we’re going to enter into a
sale and leaseback of the Murray Park and Ibrox for eight and half
million pounds is absolute nonsense,” he said.
“We’ve got a valuation that’ll go into the prospectus valuing
all the properties in excess of ?80 million. This is just rubbish
put out by people who are trying to disrupt this IPO (Initial