The Rangers board are to hold an emergency board meeting to vote on whether Charles Green should remain in his role as a consultant with the club.
Board members held a question and answer session with 200 supporters last night where current chief executive Craig Mather described Green’s behaviour since returning to the club as “immoral and unethical”.
It also emerged that the club, which has limited borrowing options, has only £10m left in the bank. Rangers raised £22m from an IPO share flotation last season alongside taking in £8m in season ticket sales.
The Yorkshireman has been involved in a public spat with Rangers manager Ally McCoist following comments that it was necessary for the club to land one of Scotland’s domestic cups this season.
Green also issued an ultimatum to businessman Jim McColl to either buy his consortium’s stake for £14m by today or walk away from the club’s affairs.
Green is reported to be on a retainer of £1,000 for consultancy services after receiving an undisclosed payment when he left Ibrox last season.
He was embroiled in a racism row during his previous spell and was also accused of having close links with former owner Craig Whyte. An external inquiry however found that Whyte was not involved in Green’s takeover.
Craig Mather was joined by fellow directors Brian Stockbridge and Ian Hart alongside manager Ally McCoist at last night’s meeting at Ibrox.
He told those assembled: “I didn’t agree with Charles Green. I don’t agree with his behaviour and I don’t think it’s right. It’s morally and ethically wrong.”
The Rangers chief executive said he would hold discussions with McColl about his moves to remove him, finance director Brian Stockbridge and non-executive director Bryan Smart from the board.
McColl has initiated an emergency meeting where shareholders will vote on whether to replace the trio with former director Paul Murray and former head of PricewaterhouseCoopers in Scotland Frank Blin.
Mather said that more detail had to be made available on McColl’s plans but added that he was impressed by Blin’s background.
A Spokesman for Charles Green, who left for his home in France after attending Rangers’ friendly against Newcastle this week, said: “Charles Green pleads guilty to the following crimes - saving the club from Craig Whyte and now trying to prevent it from falling into the hands of men who haven’t invested a penny.
“Talk is cheap as Paul Murray and Frank Blin have repeatedly proved. Action costs more, more than the £2.80 invested by billionaire Frank Blin.
“As regards to Mr Mather it is clear he is confused and inimidated by the fans’ robust actions. Perhaps he should return to a much gentler business atmosphere. As for calling a board meeting to discuss Charles, perhaps he should ask his fellow board members before pushing the panic button. Glasgow is a place for big boys not frightened wee laddies.”
A joint statement from the Rangers Supporters Trust, Association and Assembly expressed concern at the Ibrox club’s financial position.
“We are extemely concerned to learn that there is only £10m left in club funds after the IPO and season ticket monies have gone into the club and will be seeking more detailed answers from the club’s board.”