Green makes pledge to Rangers fans

Last Updated : 08 Jun 2012 19:47

Charles Green has told Rangers fans he will not "abuse" their money, insisting he will not use cash from season ticket sales to fund his takeover.

The former Sheffield United chief executive - who is leading the consortium in place to buy the administration-hit club - was responding to comments made by Ibrox director Dave King, who urged fans to reject the Company Voluntary Arrangement (CVA), which will be voted on by creditors next Thursday, while calling on supporters not to renew their season tickets until Green reveals the details of his plans.

Craig Whyte completed his own takeover of Sir David Murray's majority shareholding last May with money from the sale of future season ticket income to investment firm Ticketus.

However, on Friday night Green told Rangers' official website: "On the basis the receiver is already holding cash and we haven't put the season tickets up for sale yet, I struggle to see how I can use season ticket money to buy the club. The season ticket renewal letters are actually going out today and I have already deposited money with the administrator to buy the club.

"We have provided the money to buy the club and we have documented the fact we are going to raise another £20-30million on top of that. The important thing - which is in the letter I've sent out to fans - is that season ticket money, when it comes in, will actually be sat in an account specifically to hold it there.

"For legal reasons, there is a 28-day cooling period after next Thursday should the CVA go ahead. Until that period ends, any monies that come into the club are held in a secure account and I have no access to that money.

"If we are looking and speaking to the real, true Rangers fans, I'd say to them if there was ever a time to support the club it is now. They will know for the first time in many, many years that their money will not be abused the way it was before."

He added: "We said from day one that our intentions were to acquire Rangers and the CVA was always the preferred option. I have no control over that. Only creditors have and next Thursday there will be a meeting and either the CVA will go ahead or it will be rejected. If it is rejected, we will immediately default into a newco route."

Green believes King's comments were "disruptive" at a time when he is attempting to gain the trust of a disillusioned Rangers support, saying: "Clearly the comments he made were outrageous and I'm disappointed.

"I have great difficulty where someone purports to be acting in the best interests of the club then recommends creditors should vote down a CVA. That is exactly what the club doesn't want."

Source: PA