DR - Freddy Sheperd still interested

[der Berliner 3,267]

Some quotes in there, though as usual by "a source close to " chap. Looks like once a CVA is done and HMRC out of the way, Sheperd may invest.

 

 

Freddy Shepherd still interested in Gers investment

 

FORMER Newcastle chairman Freddy Shepherd has told Charles Green he is still prepared to pump his millions into Rangers â?? but only if he receives a written guarantee his cash wonâ??t be gobbled up by the taxman.

Shepherd was quickly unmasked as one of the 20 core investors Green claimed to have already signed up to bankroll his £8.5million takeover of the stricken Ibrox club when the Yorkshireman first emerged as a late frontrunner for control.

The 70-year-old admitted in an exclusive interview with Record Sport he had been approached by Green and asked if he would plough some of his cash into the salvage mission.

But since then Greenâ??s group of willing financial backers has dwindled from 20 to around five or six with even Greenâ??s closest business partner, Mike McDonald, heading for the hills with wallet in hand.

Scrap metal dealer McDonald â?? Greenâ??s former chairman at Sheffield United â?? confirmed to this paper just last week he had walked away from the takeover because an SFA-imposed transfer ban had scuppered his money-spinning plan to help fund new signings for Ally McCoistâ??s squad and then claim â??part ownershipâ? on any player secured with his cash.

He may re-enter the fray now the transfer embargo has been lifted but what is more certain is Shepherd remains â??seriously interestedâ? in joining up with Greenâ??s gang so long as the clubâ??s long-running multi-million pound battle with HMRC is declared officially over.

Shepherd has told Green he will only be prepared to dip into his personal fortunes when he has received confirmation in written form the authorities over the ongoing Big Tax Case.

He wants clarification any potential penalties following the outcome of that tribunal, over the alleged (added, dB) misuse of Employee Benefit Trusts, will be swallowed up in the CVA proposal which Green made public on Tuesday.

Administrators Duff and Phelps claim the sums involved could be as high as £75m while others close to the case expect Rangers to be hit with a fine of no more than to £10-12m.

Whatever the final amount, Green is hopeful HMRC will be prepared to write it off as part of his £8.5m pence-in-the-pound pot.

Green believes more money can be clawed back for the public purse that way than by forcing liquidation on the club and an asset sale of Ibrox and Murray Park worth just £5.5m â?? with almost all of that total already earmarked for paying the Duff and Phelps bill.

However, the Big Tax Case â?? which was meant to be resolved months ago â?? is still awaiting a final decision.

And Shepherd â?? who expects to be given a seat on Greenâ??s new board of directors â?? will not pledge any of his money to the takeover until he is given cast-iron assurances the crisis-ravaged club wonâ??t be floored again with another massive tax bill as soon as the keys to the front door have been exchanged.

A source close to the controversial Geordie told Record Sport last night said: â??There has been a lot of speculation about Freddyâ??s position ever since he admitted in your paper he had been invited to invest by Charles Green.

â??But just because things have gone quiet it does not mean that Freddy is no longer interested. On the contrary, he very much is.

â??The problem is he is waiting for Green to come back to him with some crucial information regarding the situation with the tax case. Like everyone, Freddy has had experiences with the taxman before and letâ??s just say he will not hand over a penny until he knows, with absolute certainty, the authorities will not be back with their hands out again.

â??Freddy is a shrewd guy â?? thatâ??s why Green wants him on the board â?? so heâ??s not going to leave himself exposed to debts which have been built up by others over the years. Heâ??ll only come in if the slate is wiped clean and itâ??s up to Green to prove to him that it has been.â?

 

The Daily Record

 

How much is Freddy "worth"?

[the gunslinger 3,366]

no wonder its a risk free investment.

 

the fans will pay you back with interest.

 

frankly its a bad sign green can't sell it more easily.

 

though Freddy will be lucky to last till 2020.