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SBD Global/December 21, 2012/Franchises

Rangers Owner Charles Green Hopes To Raise Money By Selling Ibrox Naming Rights

Scottish Third Division side Rangers CEO Charles Green said that the club is "committed to investigating the sale of the Ibrox naming rights" and is nearing a sponsorship deal "despite fears of a supporters’ backlash," according to the SCOTSMAN. Green confirmed that "significant progress has been made regarding the sale of the naming rights. However, fans "have expressed concerns" about the plans since it was reported that EPL Newcastle United and Sports Direct Owner Mike Ashley "wanted to rebrand Ibrox as the ‘Sports Direct Arena’ for around £1M ($1.6M) per season." Although not addressing the supporters’ concerns about the potential renaming of Ibrox, Green confirmed that "he is eager to continue to find ways of making the Third Division side more money." Green: “If we believe that because we have £30M ($48.9M) in the bank that Charles Green should go and lie on a beach for two years while it gets frittered away, I’m quite happy to do that but I don’t think that’s right for the club" (SCOTSMAN, 12/20). In Glasgow, Gary Ralston reported Green "has pledged almost half" of the £22.2M ($35.9M) raised through the stock market flotation on new players. He will also "plough a chunk of projected season-ticket sales" of £20M ($32.5M) next summer into the pot as he "tools up for a new era" (DAILY RECORD, 12/20).
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