Rangers name club investors

Soccer: Charles Green has named two members of the Sevco consortium who are set to take over Rangers

Soccer:Charles Green has named two members of the Sevco consortium who are set to take over Rangers. The former Sheffield United chief executive has so far been unwilling to divulge the identities of those planning to invest in the clu

But he revealed that Indonesian businessman Jude Allen and Middle Eastern lawyer Mazen Houssami are involved in the bid, along with a Singapore family trust.

Green said at the weekend that 20 individuals and families have pledged support and he claimed today that interest in joining the consortium he fronts is growing on a daily basis.

He told RangersTV: “I can now provide two names, as I have clearance to do so on their part, of investors who are on the list. One guy is Jude Allen, who is an Indonesian investor, and the second is a lawyer from the Middle East, Mazen Houssami.

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“These two are very prominent in their areas. It’s a great opportunity for us to build on their experience, their connections in those regions, because we want to take the Rangers brand into these areas.

“There are other names but, for today, they are two very prominent businessmen who are backing the football club. And, in addition to these two previous names, there is also a Singapore family trust.”

Green explained his reasons for protecting the anonymity of those involved in the takeover, despite fans’ demands for transparency.

He added: “The reluctance to reveal investors initially was because a lot of these investors are offshore trusts and individuals who didn’t want their name in the press and media because they, like everyone else in the world, have been watching the Rangers story unfold through the media since February, and indeed before that, and these people are not publicity seekers.

“They want to invest in the football club for the right reasons. The other problem is that we have got an extensive list of interested parties and that list is growing daily.

“Since the announcement was made, we have had a number of people who were not in my original contact list and some of those are local people that we are speaking to. We have visitors today at the club and we had visitors yesterday — all of whom are interested in becoming investors.

“That’s great news for me because, first of all, it shows there is a belief that this club can be rescued.”

An unconditional offer from Green’s consortium, worth £8.5million, was accepted by administrators Duff and Phelps at the weekend. The group’s plan is to put a Company Voluntary Arrangement (CVA) proposal to creditors this month with a target date of June 6 for it to be decided, in the hope that Rangers can exit administration before the start of next season.

Green, who told fans’ representative last night that investors have already committed £20million, said: “We read articles that the forecasts for the club were misleading. To be honest we have looked at these figures and we have made our own assumptions and we have made our own assessments and we believe we understand this club.

“Perhaps egotistically we believe we have the ability to resolve these challenges. We have viewed historical numbers as a guideline and we have to set our own

budgets. Unfortunately for us, we don’t know if the CVA will go through.We don’t know if we can get the transfer embargo overturned and these two things do have a material impact on budget.

“So we’ve approached this with complete flexibility and we have approached it on the basis that this not a one-year or two-year deal, this is a five-10 year plan.So I have to balance which of the investors are going to be best for this football club.

“I can assure fans that it is very easy to raise money, even in this financial market we are in, for an institution like Rangers. Raising the real best type of money that’s going to help us expand the club, develop the club in the Asian markets.”

Green has already indicated his bid will be unaffected by sanctions imposed on the club by the Scottish Football Association’s judicial panel. Rangers lost an appeal against a £160,000 fine and 12-month transfer embargo on Wednesday, meaning they will be unable to sign players over the age of 17 for a year.

Green said: “As an outsider looking in, as I have been, I felt that the original ruling was wrong but I felt it would have been difficult for them to over-turn it.

“We have got to now see the written report from the judge and sit down with our legal advisors and see what the best step is for this football club. If that remains in force, we understood that there was a likelihood when we made the purchase, then we will deal with it and we will work with Ally [McCoist] and his team to come out of it the best we can.

“My understanding — and I’m going to sit down with Alistair next week when he comes back — is that a number of players reached agreements with the administrators to take reductions in salaries and vary their contracts. The payment, shall we say, in agreeing those variations is that they would be allowed to leave at a lower price.

“What I would expect, notwithstanding those agreements are in place, is that these players will have the opportunity to sit down with myself and the manager so that we can explain what the plans are for the club, what we plan to do over the next two or three years.

“Alistair has done a fantastic job this season with a 10-point deduction. To my mind, if we can’t sign anyone but we can keep the existing players, why wouldn’t we win the league? So we need the chance to speak with the players. Of course the big problem in all of this is the agents. I think the players respect Ally, they love the club and they have enjoyed playing here.

“I had the fortune — or misfortune as the case may be — of floating the biggest soccer agency in the world a few years ago so I understand the market and I understand the pressure that is put on players by their agents and it is difficult. However it is a challenge we will have to face.We are going to do whatever Ally wants to do. We are backing Ally and he knows that.

“I have had a number of meetings with him now and he understands where we are coming from and he is very happy, in my view, with what he has seen and heard. It’s about building up trust. Whether it is the fan on the street or the manager of the club, everyone is suspicious of anyone who comes through these big front doors at Ibrox and I would be exactly the same.”