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SBD Global/April 22, 2013/Franchises

Rangers CEO Charles Green Steps Down Amid Scrutiny, Replacement Already Being Sought

Rangers are in the midst of a shakeup following CEO Charles Green's resignation.
Scottish Third Division Rangers CEO Charles Green "brought an end to his tumultuous reign at the helm of the club after standing down with immediate effect" Thursday night, according to Martyn McLaughlin of the SCOTSMAN. Green decided to vacate his position after conceding the "negative publicity" surrounding him was damaging the club’s reputation. The Ibrox board said that it had "already begun the search for Green's successor," but praised him for helping save the institution from the "dark days" of last summer (SCOTSMAN, 4/19). In London, Roddy Forsyth reported former Rangers CEO Martin Bain "is in line for a shock return to Ibrox to take up his old job." Green’s departure is further proof that former Owner Craig Whyte "retains the capacity to influence fortunes at Ibrox." Whyte is "detested and despised by the Rangers support for plunging their club into the worst crisis in their history" (TELEGRAPH, 4/20). In Edinburgh, Tom English reported a conference call of the Rangers board Saturday "failed to reach agreement on the identity of the man to replace" Green. However, it is believed club investor Craig Mather "remains the favourite to become the new chief executive." Despite Bain’s name "being mentioned in dispatches, it is believed that the Nottingham-based Mather is the front runner" (SCOTSMAN, 4/21).

RIFT WIDENS: In Glasgow, Guidi & Waddell reported the return of Bain "to steady the ship in the interim period" now looks "unlikely to happen." Rangers Finance Dir Brian Stockbridge "is attempting to distance himself" from Green and Commercial Dir Imran Ahmad "as the rift on the board widens." Mather "has been proposed as the middle-ground candidate" (DAILY RECORD, 4/21). The SCOTSMAN reported turmoil surrounding the ownership of Rangers’ assets "could deepen if not fully tackled immediately." The warning came from John Brown, "the first man publicly to link Craig Whyte and Charles Green in the buy-out that followed the failure of the Ibrox club to exit administration via a Company Voluntary Arrangement last June." Brown: "It was going to happen anyway. You are journalists, if you do your job properly you would find that out. It is going to be interesting. I am not surprised because I knew what was going on, but I am trying to get a job at Dundee" (SCOTSMAN, 4/21).

MCCOIST SPEAKS OUT: In Glasgow, Waddell also reported Rangers Manager Ally McCoist said that the club "need cleansed from top to bottom." McCoist confessed that he expects the budget he had agreed with Green for next season "to be wiped out by the behind-the-scenes carnage." With two years’ worth of "dirty linen still spinning around in public," and about to be examined again by an independent commission, McCoist "simply wants to get on with the game." McCoist: "No matter who is in charge we need a bit of stability. There is no doubt about that" (DAILY RECORD, 4/21).

MORE TO COME: Also in Glasgow, Billy Dodds opined "Somehow I dont think Charles Green will be the last member of the Rangers board to leave." The club right now "seems to me to be undertaking a fresh start, a spring cleaning of the big house, but I don't think there is any reason for fans and investors of the Ibrox club to panic this morning." Decisions made in the upcoming weeks "will be for the betterment of the club and in time there will be a new board with a freshness to it, and all the question marks will be taken out of the equation" (HERALD SCOTLAND, 4/21).
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