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SBD Global/August 9, 2013/Franchises

Former Rangers Dir Dave King Fears Club Is Headed For Administration By Christmas

Former Scottish Second Division Rangers Dir Dave King has warned that "Rangers could go into administration by Christmas" unless former CEO Charles Green "lowers his asking price and sells up," according to the SCOTSMAN. King is "looking to acquire a controlling stake but has branded the current share asking price 'absurd.'" Green has told minority shareholder Jim McColl that "his consortium will sell its 28% stake in the club if given £14M ($21.8M) by Friday." King "warned that the club was close to running out of money." King: "There is an inevitability to the fact that the people currently operating Rangers are going to run out of cash. But the way directors are spending money on Green's consultancy fees and other things, I don't think they will make Christmas" (SCOTSMAN, 8/8). In Glasgow, Gary Ralston reported Rangers Supporters Association General Secretary Drew Robertson "spoke out against Green ahead of a meeting" Thursday between fans, CEO Craig Mather and Manager Ally McCoist. The Rangers Supporters Association has "accused Charles Green of behaving like a 'spoiled child.'" Robertson: "If Charles Green is employed only as a consultant he has an awful lot to say for himself. If he is making statements about the manager and the team is he still running the club? It would appear so even though he has been brought back to advise the board. If he has the club's best interests at heart he should be conducting his affairs more discreetly" (Scotland DAILY RECORD, 8/8).
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