the gunslinger

I never said that at all anywhere. I said if he wants a cva and has the cash he will get one. but I don't believe he will get a CVa certainly.

yeah but it was green that rolled the dice. that's not the impression you gave earlier. nor is it the one I had picked up from pro green posters previously.

I can't see how it can be that low. even at 134 million debt that's only 1.34 million.

I will be very interested to see what's actually in this cva proposal when it arrives at the creditors.

I would have invested as the money was going to the club. I know several others who would have as well.

Charles Green, he sells the team Charles Green arrived at Bramall Lane in September 1995 and was appointed as Chief Executive by Manchester businessman Mike McDonald in February 1996, following the latter's takeover of the club. With McDonald making a number of laudable objectives to try and lift the Blades out of the doldrums; Green's job, as McDonald's man on the ground, was to make it happen. Green's appointment and involvement was sold as a positive thing for United. Presented as "a football man" thanks to his involvement as a professional player until injury ended his career and his focus switched to business. What actually occurred over the next three years was a turnaround of fortunes on the pitch and the signing of relatively big name players for the Championship, but the rug was pulled from under it all before any tangible success was achieved. The early days of Green's involvement saw Dave Bassett's reign as manager come to an end. With supporter discontent high, yet a recognition of what Bassett had achieved for the club, there were mixed emotions around Bramall Lane when Bassett left by mutual consent. That should have been that, but an agreed compensation package didn’t materialise as Bassett had expected and he later stated that an attempt to argue his case with Green led to the latter offering to sort it out in the car park, allegedly not the only time such managerial tactics were employed. Under Bassett’s replacement, Howard Kendall, United went through a significant turnover of players as funds were provided to increase the quality of the squad. As United escaped relegation and the following season reached the play off final, the club seemed to be on the up, despite the last minute play off final defeat to Palace. However, little did the fans know the extent to which problems were bubbling away beneath the surface. Problems derived from over ambition at board level and some incredibly poor decision making by Green that would start to unravel in the following 18 months and beyond. United continued to invest in well-known players; he return of former hero Brian Deane was presented as a coup for the club. Dean Saunders was also signed. With Jan Aage Fjortoft and Gareth Taylor already at the club, the Blades had an embarrassment of riches in terms of attacking quality. However it had come at an unsustainable price. In the summer of 1998 Steve Bruce was appointed manager and was reportedly staggered at some of the salaries and contracts negotiated by Green. A fans forum was told that Saunders and Deane together were being paid more than Dave Bassett's entire squad of three years previous. Deane himself has talked of how he tried to temper negotiations so the club didn’t end up with problems. “I bought into what I was being told by the Chief Executive at the time (Charles Green) as to what they wanted to achieve at Sheffield United. I was really up for it. They even offered me a two year contract and I said, “Look, I’ll sign a one year contract and we will review it”. I had been in the Premier League with Leeds on Premier League wages, although nothing like what they are today. It was a contract where I thought that if we aren’t promoted it is going to be hard for the club to be able to afford it in this division. At the time I was thinking that I really want to be here and if you’re telling me that we are going to build a team that is capable of going up and then competing in the Premier League, then I’m in for that. I’d seen Paul Merson go up to Middlesbrough, he was still at the peak of his powers, so they obviously had a plan and I wanted to do the same at United. “ Howard Kendall returned to Everton and in a surprising move Nigel Spackman, on United’s books as a player, was appointed as manager, his first managerial role. This is when things started to unravel. Following Spackman's appointment as manager Charles Green stated that the manager had signed a three year deal. However, rumours persisted that Spackman hadn't actually signed it. A playing contract remained in place, on more advantageous terms to the managerial contract and so the latter remained unsigned. Green was increasingly seen as untrustworthy by the fans. Mounting financial losses led to player departures, alongside long term injuries to key players, this led to Spackman asking for funds for new players. Green's response was to sell £2.5m of players, claiming that this wouldn't affect the club's promotion prospects. Fans increasingly believed that Green was interfering in team affairs. The persistent questioning on the matter was irritating Spackman and led to Mike McDonald issuing a statement refuting the rumours and saying a three hour meeting had been held to thrash out the issue. Maybe director involvement in team affairs is more common now and wouldn’t cause as much fuss. It wasn’t that outwardly common then and it was upsetting fans. It was as if Green believed his brief involvement in the game as a player made him qualified to be involved in what should be managerial duties. There are those who believe he had a say in picking the team, although this has never been proved. During Green's reign as Chief Executive, several long-standing members of staff left Bramall Lane; including the club physio, kit man and several backroom staff. This built on rumours questioning who was managing these key team roles; Spackman or Green. Departing players talked of increased director involvement and team unrest as players were being "treated as pawns". Green told the press that Utrecht had enquired after popular striker Gareth Taylor, to which Taylor responded that he knew nothing of it and was in the dark on the whole situation. In the end, interviews given by Spackman and a FC Utrecht spokesman suggested that a player would have to be leaving Bramall Lane, whether it Taylor or another saleable asset. It was something Spackman admitted he had little say over. Then Mike McDonald admitted that players would have to be sold to stave off financial suicide. His argument was that the attendances were not high enough to support the squad size and wage bill. He suggested that he had been led to believe that crowds would increase with successful football and investment in the team, but it hadn’t happened. That risk taking was, apparently, the fans fault. This “financial suicide” that McDonald referred to was something he and Green had personally presided over. To take the phrase used by the chairman of another Yorkshire based club following their financial suicide, there was an element of them "living the dream". At the end of the day McDonald was in it to make money and the decisions he and Green had implemented were losing money on a weekly basis, albeit with on-pitch success. Prior to buying United he had failed to achieve a takeover of his beloved Manchester City and this was an alternative chance to “invest” in football. He had even admitted United had been his choice, because they represented a better opportunity to make money. Eventually things came to a head when Deane and Fjortoft were sold on the same day, with manager Spackman not even aware of the deal. He was aware Fjortoft may be on his way to Barnsley, but thought Deane was late for training until he spoke to him on the phone and found he was in Lisbon, heading for talks with Benfica. It was portrayed in the media as players wanting to leave, but Brian Deane recalls differently; “There is a lot about leaving United that I still cannot get to the bottom of. There are some things that I am still in the dark about. When I heard that I had wanted to leave, I wondered where that came from. I never said that.” Green was becoming increasingly irascible. Apparently challenged by then director (now majority shareholder) Kevin McCabe and others that they would be lynched if Deane and Fjortoft were sold on the same day, Green's response was to say he didn't give a damn and that he would sell Taylor as well. As further players criticised the McDonald/Green regime, including Fjortoft, the only thing the duo could do was resort to personal slurs. Fjortoft - scorer of 23 goals in 42 games was branded "lazy" and Fjortoft was quick to respond to with both anger and an eagerness to expose further “lies” of Green and McDonald. Spackman eventually resigned shortly after this double blow of having his two best strikers sold without his knowledge. The striking duo's departure had been followed by the sale of Don Hutchison and the departure of Spackman's assistant Willie Donachie, who left for Manchester City. His departure was followed by more slurs from McDonald/Green; McDonald claiming Spackman’s appointment was one he was never 100% happy with despite his public positivity when those questioned his lack of experience at the time. With United challenging for promotion to the Premier League and on a decent FA Cup run, fans could see the season unravelling. They had been sold a pup by McDonald and Green yet they were the ones who were apparently to blame. Fans chanted "Charles Green, he sells the team". They were right. He had built a team with signings he had made, on wages the club couldn’t afford and McDonald was unwilling to subsidise. In the end, under temporary manager Steve Thompson, United lost in the play offs and in the cup semi-final. A season that had promised much, had delivered some great games, but no end product. "I am Chief Executive. I take the decisons and I live by them" was Green’s retort to criticism of his operations. In the end he died by them. His position becoming increasingly untenable, in March 1998, Green's role was "redefined" and moved away from team and management affairs; his removal from the club impossible at the time due to pro-McDonald factions on the board. His eventual resignation saw him receiving a payment in excess of £100,000 an amount that caused consternation and raised questions when highlighted by fans and shareholders at the AGM. He didn’t do badly for himself out of a relatively unsuccessful spell at Bramall Lane. In between times new manager Steve Bruce had become increasingly vocal about the difficulty of doing his job, players were targeted but not signed, and existing players were sold. It was like managing with his hands tied behind his back. He was paying the price for previous gambles that hadn’t been given the chance to pay off. The plug pulled in panic. No-one can say whether United would have reached the Premier League if Deane, Fjortoft, Hutchison and others hadn’t been sold but, given the margins involved there must have been a good chance. Charles Green is a much vilified figure at Bramall Lane. He may have just been a puppet for McDonald; he may have been the ultimate decision maker, guiding the investor. Either way the manner by which he went about his business won him few friends within the club, or with the fans. Now, after a significant absence, Green is back in football with Rangers. The fans should treat his arrival with caution. What his role will be day-to-day remains to be seen. But the last thing Rangers need now is a man who takes risks, a man who panics when the risks don’t pay off and a man who fans doubt they can trust. If you want to know more about Green’s time at United and the various boardroom machinations over 30 years at a football club, I can recommend Fit & Proper:Conflicts & Conscience in an English Football Club. A real eye opening book, whether you are a Blades fan or not. I am indebted to the book for reminding me of the timeline and key events. http://aunitedview.blogspot.co.uk/2012/05/charles-green-he-sells-team.html

agreed he's doomed to fail.

so if you dont back the guy with not enough cash yet and the plan to make a fortune for investors not rangers then keep your mouth shut?

http://news.stv.tv/scotland/99503-in...d-for-rangers/ From: The Consortium known as the known as the Blue Knights Consortium (the Consortium) and Brian Kennedy To: Mr Paul Clark and Mr David Whitehouse The Administrators of The Rangers Football Club plc – In Administration Duff & Phelps Limited 43-45 Portman Square London W1H 6LY 28 April 2012 Dear Sirs Offer Letter - SUBJECT TO CONTRACT The Rangers Football Club plc – In Administration (the Company) We are writing to make an offer, subject to contract, by a consortium headed by Paul Murray, known as the Blue Knights Consortium (the Consortium) and Brian Kennedy, such offer to be subject to legal and financial due diligence, to purchase the shareholding of the Company and the business and assets of the Company (the Shareholding and Business and Assets). 1 PRICE 1.1 Subject to the matters set out below, we are prepared to purchase free from all liens, charges, equities and encumbrances such right, title and interest as the Company has in the Shareholding and Business and Assets, and in Ibrox Stadium and Murray Park (together the Premises) for a consideration of: 1.1.1 £5,000,000 (subject to paragraph 1.3 below); 1.1.2 the discharge of the debentures for £8,000,000; 1.1.3 an additional sum of £500,000 payable in consideration of and payable on the successful acquisition of the shares in the Company held by Craig Whyte and/or persons associated with or connected to him (which amount to at least 85% of the entire issued share capital of the Company); 1.1.4 the assumption of the football debts (up to a maximum of aggregate amount of £1,000,000) owed by the Company to Scottish football clubs; 1.1.5 on Rangers Football Club successfully qualifying for the group stages of the UEFA Champions League competition to be held in seasons 2012/13 and/or 2013/14, an additional £500,000 (for the avoidance of doubt, the maximum amount payable under this paragraph 1.5 is £1,000,000); and 1.1.6 on Rangers Football Club successfully qualifying for the quarter final stages of either of the UEFA Champions League competition to be held in seasons 2012/13 or 2013/14, an additional £1,000,000 (for the avoidance of doubt, the maximum amount payable under this paragraph 1.6 is £1,000,000). 1.2 The apportionment is subject to further discussions and will be agreed in the contract. The structure of the purchase vehicle and the Company will be in whatever form is necessary to comply with regulations as stipulated by the Scottish Football Association (SFA), the Scottish Premier League (SPL) and UEFA. 1.3 A deposit of £250,000 shall be paid forthwith on confirmation that we have been granted preferred bidder status and on the entering into of a binding exclusivity agreement to our satisfaction providing exclusivity in accordance with paragraph 9 below. Such deposit will become a non-refundable on the satisfaction of all of the conditions to our offer and set out in this offer. Until such time, the deposit shall be entirely refundable on notice from us in writing to you and until the deposit becomes non-refundable, it must be held in Duff & Phelps' client account, on trust for us. On successful completion of the purchase of the assets by us pursuant to this offer, the deposit will be deemed to be a part payment of the amount referred to in paragraph 1.1.1 above. 2 PAYMENT 2.1 The total consideration will be paid in full on completion following the sale and purchase of the Shareholding and Business and Assets, and Premises. 3 ASSETS BEING ACQUIRED 3.1 The Premises; 3.2 The SPL and SFA Shares; 3.3 The Player Registrations; 3.4 The plant, machinery, office furniture and equipment owned by the Company in relation to the Business whether situated at the Premises or elsewhere; 3.5 The goodwill of the Company relating to the Business including the right to use the name "Rangers Football Club"; 3.6 Stock, raw materials, finished products and work in progress relating to the Business including any deposits received by the Administrators after the date of the administration relating to any of the customer contracts which we may acquire and complete; 3.7 The existing order book and customer contacts of the Company relating to the Business; 3.8 All intellectual property rights, licenses and trademarks of the Company relating to or used in the Business; 3.9 Any monies owing to the Company including football monies, which we understand to be circa £3,500,000, however, the running losses of the business through the administration period and the administrators' fees and expenses will be deducted from this amount; 3.10 The books and records of the Company relating to the Business excluding the records created by the Administrators for the purposes of the administration; 3.11 The vehicles owned by the Company and used in the Business; 3.12 All and any other assets of the Company. We would expect all assets of the Company to be included in the sale, except for such assets of the Company that are needed (subject to our due diligence and agreement) to pay creditors within the administration and to pay the reasonable costs of the administrators and their advisors. 4 EMPLOYEES We shall only take over responsibility for those employees which are employed in the Business as at the date of actual completion. We also require the benefit of the Company's insurances in respect of actual or prospective claims by such employees, particularly in respect of health and safety matters. Any employees located at the Premises who are engaged either wholly or substantially in other areas of the Company's business or within the Company group will not transfer to us. The offer made takes into account the Transfer of Undertakings Regulations and we will require full due diligence in respect of the action taken by the administrators in relation to the employees of the Company and in particular the players recently released. 5 ACCESS TO RECORDS As part of the due diligence exercise you will allow us access to the Company's records relating to the Business and Assets and Premises and in particular to its suppliers and its principal customers, including details of all present and future orders placed by those customers (subject to any reasonable and appropriate confidentiality agreement being entered into). As part of this requirement, our client also requires access to all necessary information in order to submit an application to UEFA for a license to compete in UEFA competitions by the appropriate deadline. 6 THIRD PARTY ASSETS All assets owned by third parties, whether on loan, hire, hire purchase, lease or any similar arrangements but presently in the possession of the Company at the Premises in relation to the Business are excluded from the sale. Neither the Company nor the Administrators will object to and will use their respective best endeavours to assist us in any negotiations to continue possession and use of or to acquire title to any such assets. 7 CHARGES/SECURITIES The existing charges or securities registered against the Shareholding and Business and Assets and Premises will be released in full on completion of the sale and purchase. 8 TERMS AND CONDITIONS Our offer is made subject to the following: 8.1 that a CVA is issued to creditors within 2 weeks of the date of this offer in a form acceptable to us; 8.2 that a CVA is agreed by the requisite majority of creditors and the period for challenge of the CVA expires with no challenge being made; 8.3 that we are granted exclusivity until the date of the creditors meeting to approve the CVA and if the CVA is approved at the creditors meeting, the period of exclusivity shall automatically extend until such time as SFA and SPL agree to transfer the Shares; 8.4 that the SFA and SPL grant approval to the transfer of the Shares in the SFA and SPL to our Newco purchasing vehicle; 8.5 that we are satisfied with the results of legal and commercial due diligence reviews to be undertaken by us and our advisors; 8.6 to acquire, in accordance with the Code (as defined below), at least an 85% shareholding of all shares held in the Company to our satisfaction, including those held by Craig Whyte and/or persons associated with or connected to him. Nothing in this letter represents a legally binding offer for the shares (or any of them) in the Company nor by virtue of this letter will we acquire any interest in any shares in the Company for the purposes of the City Code on Takeovers and Mergers (the Code) nor does this letter constitute or evidence a firm intention on our part to make an offer for shares in the Company for the purposes of the Code; 8.7 all onerous contracts are terminated prior to the CVA with such onerous contracts to be approved by us; 8.8 that the purchase of the Shareholding and Business and Assets and Premises may be by a different group company or through a newly incorporated company as appropriate; 8.9 the release of all security over any assets of the Company including in particular the security originally granted in favour of Bank of Scotland and understood to have been assigned to Craig Whyte and/or associated parties; 8.10 we being satisfied that we have a full understanding of the all penalties, sanctions, and the like which have been or may be imposed upon the Company or Glasgow Rangers Football Club by the SFA, SPL or UEFA and/or any other relevant bodies and the ramifications thereof including any potential penalties in respect of breaches relative to player contracts arising from the EBT Scheme or any other matters, 8.11 that Ticketus has no legal ownership of future season ticket revenues and only has status as an unsecured creditor in respect of any claim it may have; 8.12 that this offer is made under English law and jurisdiction is within the English Courts. 9 EXCLUSIVITY The Company and the Administrators will agree not to enter into any contractual negotiations with any other party until such date is called for the creditors meeting to approve the CVA. 10 FUNDING We confirm that we have funding in place to finance this offer and confirmation of the availability of this funding will be provided by Barclays Wealth on 30 April 2012. 11 COSTS AND VAT Each party will be responsible for its own costs and expenses in connection with the matters contemplated in this offer. We assume that this will be a transfer of a going concern and that no VAT is chargeable. 12 CONFIDENTIALITY Following completion there shall be a bar on publicity by either party of the proposed sale and purchase unless jointly agreed in writing. 13 NO INTENTION TO CREATE LEGAL RELATIONS Notwithstanding anything contained in this letter, this does not and shall not in any circumstances be taken to constitute or form the basis of a contract between the parties who do not intend to create any legal relationships between them. Neither the Company nor the ourselves shall have any obligation to the other until the formal sale and purchase agreement reflecting and/or providing for the matters herein contemplated shall have been signed and exchanged between them. We look forward to hearing from you as soon as possible so that we can proceed to the formalities of the sale and purchase. Yours faithfully http://m.stv.tv/news/scotland/99503-in-full-letter-from-blue-knights-outlining-their-bid-for-rangers/

it was 5.5 upfront and some nonsense clauses about euro revenue that would never have paid out. I will get the full details for you shortly.

greens done this before. at shefield utd he took over slashed costs sold the best players. he then floated the club and raised 100 million only 10 of which went to the club. but that was when people invested in football clubs. what happens if the flotation fails?

they had 5.5 million for the creditors pot including d&p fee and the money to run the club in June and July. this could be 5.5 minus d&p fee. as for scrutiny they weren't preffered bidder but if they were scrutiny would be essential.

it would do no harm to put any bidder under severe scrutiny and see how they hold up. if they don't then they are no loss.

then your in a situation where green having failed to raise 8.5 million could get the club for less than tbk bid. stewards inquiry surely.

I can't see how he can get away with that. surely it has to be oppened up to other bidders at that point. I can see this going to court.

what was it green said about the shefield utd share issue. he raised 100 million but 90% of that had to go back to the origional shareholders. no thanks and good luck to him selling those shares.

I don't think there's much we can do. a season ticket boycott (which no ones suggesting that I can see) won't stop this if greens got the cash. If he doesn't then he doesn't. he won't win in the liquidation bidding if he can't fund the cva. what riles me is a cva is perfectly possible if we miss out on that because of green and d&p there will be hell to pay. what was it bk said. blood on the walls.

I'd be amazed if they dont given their track record

leggats had a few scoops in this saga.

my belief is they have been conned by green or far more likely have helped green run a con. this 24 page document outlines greens plan. its fine if people buy into it. mostly it can only work if the fans are 100% behing green and he's going about that all wrong. if d&p had accepted tbk bid we would be well on our way to a cva by now. as it stands we either hope green can sell his vision better from here on in or we hope its not to late when it all falls in about us. I can see bludells point but just crossing our fingers isn't ideal either. we have two weeks or so to have a proper workable cva proposal with hard cash in place or we have to chose between a newco and points off next season. for me d&p better be sure they have a workable cva proposal in place otherwise the backlash will be mamoth.

if you like but I would say its very clear he's struggling for the cash.

lafferty brings nothing sandazza wouldn't for a quarter of the price. he probably could if he applied himself but he never has before.

they have told a few porkies in fairness. what they have done here is been conned or taken a huge gamble. it looks like a gamble to me and I doubt that's part of their brief.

they had all the cash sitting waiting to go in the day they got preffered bidder. a bit less cash no question but real actual cash. greens outbid them with promisses and hopes. now our future depends on him digging up some cash.

I'm on of the people who don't believe in green or d&p or their dodgey cva. but surely you must see why we are concerned. a week's delay because he didn't have the cash to fund us for 6 weeks. confirmation that d&p don't have the 8.5. given he's only just raised 2.7 there's no way the other 8.5 exists yet. I can tell you he's had Glasgow business men like a smillie in giving him the hard sell to no avail. there's a good reason were worried and I see no point in sugarcoating it for others. green should have by now put up the 8.5 million. he hasn't. he might yet in the next 6 weeks but if he can't raise it we will be back to the other bidders who will struggle to do anything but newco us in time for the new season.