Rangers in rude health financially, says Charles Green
CHARLES Green has described Rangers’ financial position as “fantastically strong” and says he intends to mastermind a return to the Champions League.
The Third Division club announced earlier this month they would seek admission to the Alternative Investment Market of the London Stock Exchange as they continue to realign their finances following the liquidation of the ‘oldco’ club and the acquisition of its assets by Green’s consortium for £5.5million in the summer.
Chief executive Green, who hopes the process will be completed before Christmas, insisted Rangers are in a sound financial situation and maintained that links with Ticketus, who struck a controversial agreement with former owner Craig Whyte, are in the past. Green told TalkSport: “Ticketus don’t have any involvement whatsoever. They were involved with Craig Whyte, which caused a problem, and previously to that David Murray used them when he was running the club. They are no way involved. The season ticket money this year came into the club and that’s sat in the bank.
“In our current financial year, which ends on 30 June, we will have had two seasons’ season tickets, because next year’s season tickets will go on sale in May. By the end of June we’ll have collected, so I’ll have another pile of cash before this [financial] year ends. Rangers is in such a fantastically strong position without the IPO.”
Clarifying his use of “I”, Green added: “I am Rangers. I’m running that club, I’m making the decisions and I’m going to protect that club with my life. No-one’s going to abuse it. I’ve started to catch Rangers-itis. What I do see now is an opportunity to finish it and take it back to greatness. I won’t leave before Champions League music’s playing at Ibrox.”
Green says the player wage bill has been cut from £27m to under £7m and that Rangers are in rude health.
Green believes the flotation will only improve Rangers’ position. He added: “If you look at the valuations, Manchester United is valued on the New York Stock Market at £1.2billion. Everton is up for sale at around £300-400m. So, as great as these clubs are, how can they be valued at those amounts and Rangers at only £30m? It’s inconceivable that those values will remain.
“I got into trouble recently for saying that Aston Villa, and a number of other clubs, make money because they are in the Premier League, but they are not the drivers of that wealth and value. The reality is fans want to see the top teams play each other.”
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