Bill McMurdo - Green To Return?

[chilledbear 16]

http://billmcmurdo.wordpress.com/

 

 

 

Green’s Return Imminent?

Posted on August 1, 2013 by billmcmurdo

Charles Green is locked in talks with the Rangers board concerning his return to the club.

 

Green is concerned about spiralling costs at the club, including board costs of £1.2 million, back room staff of £3 million and player salaries of £7 million. Other investors share his concerns and are backing his return to the Ibrox boardroom.

 

My understanding is that Malcolm Murray, Scott Murdoch and Douglas Park are working furiously in the background to try and prevent Green’s return by attempting to acquire 29.9% of the club for 35p per share. Given that Green’s consortium still own 51% and are determined not to sell for less than £1.00, it doesn’t look likely that Murray et al will succeed.

 

 

One institution – Hargreave Hale it is believed – may sell for not less than 50p but it is highly improbable that the Murray/Murdoch/Park team will stretch to that.

 

It is generally regarded that the new Blue Knights for want of a better name are just bluffers hoping to get the club on the cheap.

 

I am told that one or two board members are trying to block Green’s return to the club but I expect that it will happen regardless.

 

More to follow when available…

Edited August 1, 2013 by chilledbear

[Guest BigSwanley]

There may be trouble ahead....

[plgsarmy 111]

I'd love to see a breakdown of the costs he is quoting.

[Bluedell 5,679]

I'd love to see a breakdown of the costs he is quoting.

 

And how much of them were put in place under Green's own watch?

[plgsarmy 111]

And how much of them were put in place under Green's own watch?

 

Exactly. Board costs of £1.2m? Okay you have Mather and Stockbridge taking about £800K (maximum and I suspect much less). Is he saying that the NEDs are taking out £400K? Also backroom staff - I'm not sure who would be included but we know that Ally is on around £700K and KMcD around £250K. There will also be ID and coaches but £3M? I just can't see it, even counting on costs.

Edited August 1, 2013 by plgsarmy

[der Berliner 3,803]

 

My understanding is that Malcolm Murray, Scott Murdoch and Douglas Park are working furiously in the background to try and prevent Green’s return by attempting to acquire 29.9% of the club for 35p per share. Given that Green’s consortium still own 51% and are determined not to sell for less than £1.00, it doesn’t look likely that Murray et al will succeed.

 

Do they? Where does that notion come from? Just asking.

[Frankie 8,651]

Last I heard Douglas was abroad still convalescing from an accident last year whilst also trying to enjoy the most recent addition to his family. As such, I doubt he'll be spearheading many bids alongside MM.

 

As for Green's shares being available for £1, I'm not so sure about that given someone has been trying to hawk over 6 million shares for a fair whack less in recent weeks. May or may not be Green's (how many is he selling to Laxey and/or Easdale) or Ahmad's but given recent trades have been at around the 45p mark, even 50p seems unlikely.

 

Bill is right in that there's no doubt people are interested in buying the club. Indeed, there may be more than one or two consortiums who fancy the challenge. But only at less than 35p and even then they may prefer to wait until the IPO money is all but gone before buying. Meanwhile I think Green and Ahmad would rather be long gone before the financials are available.

 

As always, we can only wait and see as we're not going to be able to affect any of this.

Edited August 1, 2013 by Frankie

[forlanssister 3,114]

UPDATE

 

The original blog piece posted earlier named Douglas Park as a member of the group trying to purchase Rangers shares.

 

This is not the case. Douglas Park is not actively involved in the purchase of Rangers shares and I am happy to correct that and apologise for the incorrect info.

[Frankie 8,651]

Interesting McMurdo amendment which may validate my post:

 

UPDATE

 

The original blog piece posted earlier named Douglas Park as a member of the group trying to purchase Rangers shares.

 

This is not the case. Douglas Park is not actively involved in the purchase of Rangers shares and I am happy to correct that and apologise for the incorrect info.

 

He's also removed the other names he mentioned are 'furiously working' to prevent Green's return.

[the gunslinger 3,366]

Any one giving credibility to an article claiming someone wants a guid a share is aff their chump imho.