How Green And Investors Could Double Their Money

[chilledbear 16]

Noticed this on Twitter from the Record.

 

 

 

Rangers preferred bidder Charles Green could rake in £4m from plans to save club

May 29 2012 Exclusive by Keith Jackson

 

charles green rangers Image 2

 

CHARLES GREEN has put himself in line for a potential £4million windfall from his plan to keep the padlock off the front doors of Ibrox.

Record Sport can today reveal secret details of Green’s proposals to save Rangers from extinction.

The plans have been published in a glossy 24-page presentation to prospective investors.

Green claims anyone willing to invest in his rescue mission will double their cash as part of a get-rich-quick scheme.

And the document reveals Green also stands to personally pocket a multi-million pound bonus from the deal, despite not laying out a penny of his own money on the takeover.

The Yorkshireman is still trying to recruit more financial muscle and hopes to raise as much as £40m from investors.

Last week he was scheduled to provide £2.7m – needed, it’s thought, to pay the club’s wage bill until a CVA is accepted in early July – but administrators were left empty handed.

However, after a day of talks yesterday, Green delivered enough cash to allow Duff and Phelps to proceed with the proposal to the club’s creditors.

Green will be given time to raise the £8.5m required for the CVA pot but he has now convinced Duff and Phelps the cash is there to keep the club in business throughout June.

In his confidential ‘Investor Presentation’ Green reveals his plan to buy the club through holding company Sevco 5088.

He will then become chief executive and says the club will be floated on the AIM stock market later this year when his group of investors stand to ‘double’ their money.

The brochure says: “Founding investors who put up the first £10,000,000 will receive 10,000,000 additional shares at a value of £1 per share on a pro rata basis effectively doubling their contributions.”

Green also stands to make a fortune as the brochure reveals he is “being incentivised by 10 per cent of the enlarged share capital of the holding company post completion”.

Duff and Phelps confirmed last night the CVA notice will go out this morning but, should that fail, Green outlined his plan B.

In the document it is stated “in the very unlikely event a CVA is not agreed by creditors” Sevco will pick up Ibrox and Murray Park at a knock down £5.5m.

It also describes ‘advantages’ to a Newco being banned from Europe for three years, including slashing the first-team wage bill from £18m to around £11m.

Edited May 29, 2012 by chilledbear

[Frankie 8,383]

CVA proposal due in a few mins. Should clarify a few things.

[Frankie 8,383]

Still no CVA proposal on the website but Clark about to be interviewed on Radio Scotland in a few mins.

[ian1964 10,629]

IN Charles Green’s world Rangers have a five million global fanbase and potential TV audience of 530m.

 

Rangers are barred from Europe and can’t sign a player for a whole year yet they’ll dominate home and abroad.

 

The Green party, who are sending out their CVA to creditors today, does sound pretty wonderful.

 

But back in the real world this stricken club’s potential new owner will be lucky to sell even 10,000 season tickets if supporters don’t like the look of their club under any new ownership.

 

Green is trying to entice foreign money men to buy into Rangers’ revival and his brochure is impressive in the optimistic way it presents a club which is broken almost beyond repair. Innocents abroad might just be tempted.

 

They’ll read about a club cleansed of all its toxic debt and sitting with a property portfolio of just more than £113m. The way Green’s blue booklet tells it you’d be mad not to invest. Then again…

 

After all, you have to assume that since the people being targeted have serious wealth they must be smarter then your average bear. They don’t have a love of Rangers, just a love of money and they never hand any of it over easily.

 

They’ll look at the brochure and have their people look behind the neatly-packaged presentation. And they’ll see right away the benefits are only of the potential variety.

 

● £6m media value to club sponsor.

● Cumulative domestic audience of more than 10m.

● Worldwide soccer schools in 14 countries with 1.5m attendees per season.

● Rangers games broadcast in more than 100 countries by 50 channels.

 

The former Sheffield United chief executive also lays out the strategy which includes capitalising on ‘Rangers’ position as Scotland’s greatest club’ and develop Ibrox into a world-class destination. One or two over at Celtic Park might have something to say about that.

 

His pamphlet states it is the intention to have Rangers dominate all competitions, at home and abroad. The Spanish, Germans, English and Italians might have something to say about that.

 

His strategy is also to focus on “regions with significant existing brand presence” – North America and Oceania – and new regions with “high growth potential” which are Asia, Middle East and Far East.

 

It highlights other opportunities such as exclusive access to world-class facilities (bring your own mops, buckets and paint brushes because Ibrox is in need of some TLC), award-winning hospitality and guaranteed European exposure.

 

Green must be planning a travel discount scheme for investors as they won’t be travelling into Europe with the team in the new season.

 

And if he doesn’t get his CVA accepted Rangers will have to be reformed as a newco, which will carry a three-year UEFA ban as punishment for liquidation.

But let’s not allow reality to get in the way of the big sell, although you have to wonder why Green is still searching for investors.

 

I recall him saying he had about 20 investors lined up the day he was presented as exclusive bidder but here he is, still open to offers even though it’s been suggested there could be as much as £20m in some account or other. Rangers fans have heard that one before.

 

Like the rest of us who have been following this saga they became wary of deadlines and targets. So many have been set and missed.

The number of bidders. Specific dates for them to make their plays. The price of exclusive bidder status which varied from £500,000 to £250,000 before it was dropped altogether.

 

The American, Bill Miller, was eventually given a free run at the club before he was scared off by other costs and a bunch of misguided Rangers fans who fired electronic warning shots across the Atlantic.

 

It was getting to the point that when Duff and Phelps made a claim or insisted something be done at a certain time no one held breath. You suspected it would all change.

 

Green must have known that too, which might explain why it took until last night to reach the stage where the CVA proposal was just about out the door.

He was supposed to come up with some cash, believed to be in the region of £2.7m, at the beginning of last week but this was extended to the week’s end.

 

The money still hadn’t changed hands by close of play on Friday so Green was told to deliver on Monday. Still nothing, although it’s believed the administrators were offered only £1m.

 

But Duff and Phelps got their money late yesterday afternoon and it looks as though Green is all but there and Rangers have edged away from liquidation. For the time being.

 

Although Green and theadministrators have been encouraged by the maincreditors, HMRC and Ticketus, they need formal acceptance. But even if the CVA door is slammed shut Green would still be in pole position.

His document reveals that if a CVA can’t be squeezed through he could then buy the club and assets for £5.5m.

 

However, surely that could spark another round of bidding because others would see the value of owning Ibrox, Murray Park and the Albion car park at that price. And you’d get the new Rangers thrown in as well.

 

All of that and no debt? It does seem like good value for money but the creditors are entitled to the best deal too, and that would mean them accepting a higher bid than Green’s should one be submitted.

 

They have a duty to those who are owed money but they also have an obligation to be as sure as they can that the business is not going to be broken up or further abused.

 

Rangers fans deserve a decent break after a black year of Whyte, not that I’m suggesting they’d remain off colour under Green. But if he does end up owning the lot after liquidation he will have to alter his strategy.

 

For a start European dominance would take a little bit longer as a newco would be barred from UEFA competitions for three years.

 

There could also be sanctions imposed by the SPL whose members meet tomorrow to discuss what to do with clubs dragged into liquidation and although there has been a lot of hot air we can all be fairly certain the licence to play in the top flight will be granted to a new Rangers.

 

Last night, however, it looked as though Green was just about there with the CVA process getting under way. But time is still short because after the CVA terms are put to creditors they are required to wait 16 days before voting on approval or rejection. A 28-day cooling-off period then follows.

 

http://www.dailyrecord.co.uk/footbal...6908-23877576/

 

Still more time and uncertainty for Rangers’ fans. But that’s just the way it is in the real world.

[GovanAllan 0]

The Rhag telling it like it is, in their world.

 

Tell you one thing if you show me photos of Ibrox & The Meccanodome I know which I would head to, we may need a lick of paint here & there but the other place needs knocked down just for the pain it causes on the eyes.

[Frankie 8,383]

Paul Clark can't confirm a 'finite' distribution of CVA funding. Still not received £8.5million from Green - yet.

 

Creditors will be expected to vote on 14th June but they may not know full value of the proposal.

 

D&P in close contact with Ticketus & HMRC so up to them to cast their final vote in June. D&P hopeful - all creditors treated equally.

 

Clark confirms if CVA isn't agreed in mid-June, a newco would be probable and is a fall-back situation with Green to achieve 'continuity'.

 

SPL meeting tomorrow didn't have direct bearing on CVA. Paul Clark aiming to attend vote tomorrow.

 

Clark feels CVA proposal is a 'great step' for the club's future and even if newco happens club will still survive.

[ascender 352]

The record just can't help themselves, I see how its described as a "get rich quick" scheme. Maybe that's on the cover page of the prospectus?

[EDGE 0]

Still don't trust these cunts.

[chilledbear 16]

I asked the question a while ago, why would investors from Middle/Far East invest in a Scottish Football Club.

 

Perhaps this is what they have been promised.

[der Berliner 3,587]

Such articles must be food and drink for forlanssister et al. Wonder where they are?

 

NB: Yes, that's tongue-in-cheek ...