SPL Will Vote July 4 On Future Of Rangers Newco Club
The SPL has announced that a vote "to decide whether to admit a Rangers newco into the top-flight" will take place on July 4, according to SKY SPORTS. With the original club now in liquidation, the 11 remaining SPL members will vote on whether to accept the newco Rangers, owned by Charles Green, "into the top flight for next term." The SPL also said that disciplinary charges will be brought against the Rangers "when the future of the club is clarified," following an investigation into player payments outside of contract (SKY SPORTS, 6/18). In Glasgow, the DAILY RECORD reported that former Rangers Dir Dave King "believes the club will require financial support on a non-commercial basis" for the next three years if they are to emerge from their financial troubles. King said, "I really don't believe Rangers represents a financial opportunity for anyone other than an asset stripper. There is only one way forward for the club and that is that the club needs a level of funds which is way beyond the ability of the fans to support it with season tickets" (DAILY RECORD, 6/18). Also in Glasgow, Michael Grant reported that a £6M ($9.4M) offer to buy the Rangers newco "will be formally submitted" to London investment bank Zeus Capital by businessman Jim McColl. The bid will be placed "on behalf of the group" fronted by former Manager Walter Smith, who will then "await a response" from Green. The offer is "unlikely to succeed." Green has already claimed his investors had spent around £10M ($15.7M) on acquiring Rangers' assets and "were not looking for a quick sale." However, it will "be the catalyst for further discussions between the rival parties," which could result in "another change of ownership" (HERALD SCOTLAND, 6/18).
PLAYERS IN LIMBO: Meanwhile, the DAILY RECORD's Craig Swan reported that Rangers player Dorin Goian said that he has not heard "one word" from the Rangers since the end of the season. Since the close of last season, the situation has "become even worse with the players left in limbo as a series of traumatic events unfolded." Rangers players have "no idea what is going on" amid suggestions they "could legally be allowed to leave for free" rather than transfer to the newco Rangers. Goian said that "not a single phone call or text message has come his way" since he left Glasgow six weeks ago (DAILY RECORD, 6/18).