Rangers: Promises, Promises

Charles Green bought the business, assets and – according to some, but not all, of paragraphs in last week’s report to creditors from administrators Duff and Phelps – the history of Rangers Football Club for a pittance in June. But he’s really paying for it now. “New Rangers’” placement in Scottish Football’s fourth tier means that what Channel 4 journalist Alex Thomson last week called the “voodoo economics” of old Rangers is part of that history. Amid all the superfluous focus on Green “paying” £2.7m for player contracts and the under-attention on the £1.5m paid for Ibrox, Murray Park and other “heritable properties”, it got lost that the club haemorrhaged FOUR… MILLION… POUNDS while in administration. One good thing emerged, for Green, from players objecting to their TUPE transfer to new Rangers. The quality of the playing staff diminished – enough to question whether new Rangers would have won promotion from division one. But the salary bill also diminished. Despite that, however, Green looks and sounds short of required funding. It’s no surprise that the £30m Green claimed would arrive from his still publicity-shy investors hasn’t emerged. But the scrabble for funding, especially the begging for season-ticket sales, smells of desperation. And now that attention has turned to new Rangers’ application for SFA membership, it appears that the Scottish game’s governing body is following the line punted by anti-Rangers...

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