Police extend probe into Charles Green ownership

[Frankie 8,562]

So says Keith Jackson:

 

http://t.co/auDoxxHRJp

 

Not a lot of meat on the bones but not a surprise either.

 

AS well as investigating why Green was selected as preferred bidder when he took over at Ibrox in 2012, police want to know where large sums of money disappeared to during the Yorkshireman's reign at Ibrox.

 

DETECTIVES have widened their investigations into the Rangers saga to probe the Charles Green buy-out and a subsequent £70million cash burn.

 

Record Sport can reveal officers last week spent two days in London interviewing key individuals linked to Green’s chaotic reign.

 

It’s understood former chairman Malcolm Murray was one of those quizzed as a witness by the cops – who recently charged former owner Craig Whyte with fraud as part of a separate investigation into his initial takeover .

 

Green appointed Murray to the Ibrox board within days of completing his controversial £5.5m purchase of the club’s assets in a deal with administrators Duff and Phelps.

 

But the pair clashed repeatedly behind the scenes and Murray survived a number of attempted boardroom coups before finally being replaced as chairman by former manager Walter Smith in May 2013.

 

During this time Yorkshire businessman Green launched a hugely successful IPO raising more than £22m from selling new shares to institutional investors as well as Rangers supporters.

 

Now, as well as investigating why Green was selected as preferred bidder in the first place, the police want to know where large sums of that money disappeared to over the course of the next few months.

 

Earlier this year former Rangers chief executive Graham Wallace, as part of a 120-day business review, calculated that almost £70m had been spent by the club in the 18-month period following Green’s takeover.

 

Edited December 8, 2014 by Frankie

[Frankie 8,562]

Yep, there's a lot of stuff that has been known about 'privately' for long enough but haven't really made it into the papers due to legal problems.

 

With that in mind, it's important to highlight (again, yawn) our responsibilities. Be very careful in what you post as it it's pretty obvious football forums are scoured every day but people with a part to play in the process.

[the gunslinger 3,366]

Good news let's hopefor more arrests.

[Juancornetto 1]

We just need one particularly cowardly rat to stick his fellow rats in to save his own ratty skin and the whole scam will be exposed.

[buster. 5,186]

The day Sir Duped sold the club was the day an inevitable and ruinous direction was embarked upon. Given circumstances and ongoing revelations, there was little realistic prospect of derailing a destructive but thirsty gravytrain in a controlled manner. It continues to roll on...........

 

We are an abused corporate vehicle....................... and a football club in name only.

 

Things have got to change.

Edited December 8, 2014 by buster.

[andy steel 0]

The day Sir Duped sold the club was the day an inevitable and ruinous direction was embarked upon. Given circumstances and revelations, there was little realistic prospect of derailing a destructive but thirsty gravytrain in a controlled manner. It continues to roll on...........

 

We are an abused corporate vehicle....................... and a football club in name only.

 

Things have got to change.

 

No, no, man, the fans should have risen as one and acquired the club, using all the financial and corporate nous of the average fitba fan to outwit and outflank hedge funds and venture capitalists, none of whom have much experience in this sort of thing. I think back to my exalted position at the time, filling shelves in Morrison's, and realise I could have done so much more, from there amongt the cheese and yoghurts. We should then have implemented a cross between the Ajax youth system and the Barca tiki-taki passing game to bring glory back to Govan.

 

Whatever else comes out of all of this, you can bet the narrative will be that it was our own fault.

[PRW 0]

No, no, man, the fans should have risen as one and acquired the club, using all the financial and corporate nous of the average fitba fan to outwit and outflank hedge funds and venture capitalists, none of whom have much experience in this sort of thing. I think back to my exalted position at the time, filling shelves in Morrison's, and realise I could have done so much more, from there amongt the cheese and yoghurts. We should then have implemented a cross between the Ajax youth system and the Barca tiki-taki passing game to bring glory back to Govan.

 

Whatever else comes out of all of this, you can bet the narrative will be that it was our own fault.

 

There's much truth in this post and we were up against a tangled web of deceit but to have not even to try will always get under my skin.

 

We were bought over for £5.5m and competing bids were just as derisory.

 

We should have tried to acquire the club instead of getting behind various bidders. No-one will ever be able to tell me that the foundation of Hearts model wasn't at least worth a try even if ultimately we would have still lost out.

[compo 7,038]

I wont be surprised if sir david gets his collar felt

[andy steel 0]

There's much truth in this post and we were up against a tangled web of deceit but to have not even to try will always get under my skin.

 

We were bought over for £5.5m and competing bids were just as derisory.

 

We should have tried to acquire the club instead of getting behind various bidders. No-one will ever be able to tell me that the foundation of Hearts model wasn't at least worth a try even if ultimately we would have still lost out.

 

Admittedly true, but from all accounts a fan model could have been backed by Lionel Messi, Pep Guardiola, the Sultan of Brunei and Bill Gates & it would still have been rejected.