Smith launches bid for The Rangers Football Club
Former manager and Ibrox legend Walter Smith is leading a last-minute bid for control of the new company that will replace Rangers. Andrew McFadyen reports.
It’s been a day of dramatic developments at Ibrox.
Ranger’s creditors took just nine minutes this morning to formally reject a CVA agreement that would have allowed the club to trade its way out of administration. As a result, one of Britain’s biggest clubs is now in liquidation.
Former Sheffield United Chief Executive Charles Green has completed his purchase of Rangers’ assets, including the stadium and Murray Park training ground, in a deal worth £5.5 million. The trading name for the new company is “The Rangers Football Club”.
Rival bid
The announcement came shortly after former Rangers manager Walter Smith (pictured) launched an 11th hour rival bid for the club, backed by prominent business men Jim McColl and Douglas Park.
He said, “Our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.”
The bid came too late to stop the transfer of assets to Mr Green’s consortium, but it could prevent him winning the support of the fans. The Rangers Supporters Trust has come out in support of their former boss and urged fans not to their renew season tickets.
Speaking at a press conference, Mr Green said he had not been approached by Smith – but invited him to invest in the club and offered him a role as “chairman of the football board” at Ibrox.
Scotland’s other top-flight teams will now have to vote on whether the new Rangers will play in the Scottish Premier league. There are also major question marks over the status of players’ contracts. Lawyers say that big stars could walk away for nothing.
There has also been intense speculation about the future of the current manager Ally McCoist, with reports that he is poised to quit.
