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Sponsors side with Smith as newco loses support


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Sponsors are beginning to pull out of Rangers in support of Walter Smith's bid to buy control from Charles Green.

 

The withdrawal of financial support is a further blow to Green, since supporters are refusing to buy season tickets for the forthcoming campaign until he sells the assets to Smith's consortium. Fans are also planning a rally in support of the former Ibrox manager's bid.

 

The first major sponsor to withdraw is Central Car Auctions, major financial supporters of Rangers for more than 35 years. The Glasgow-based company has a corporate box at the stadium as well as prominent signage, and is thought to invest a six-figure sum.

 

That will not continue while Green's consortium remains in charge, increasing the financial pressures on a group that has struggled to pull funds together. Green's investors will not put more of their own money in, since their intention is to quickly sell up, yet running costs still need to be met.

 

Jonathan Miller, owner of Central Car Auctions, said: "I'm not going to do sponsorship just now, because I have a fear factor about Mr Green. He's there for the sole reason of making some money, then walking away. After what's happened with Mr Whyte, it's a total embarrassment.

 

"I feel strongly about it. We've been sponsoring things at Ibrox for more than 35 years, boxes and we now have our signs there. We still have a contract for another year, but because of what's happened, that contract won't stand now.

 

"I just feel that somebody's got to do something. He's got a similar look to him as Whyte, he's just there for the money. The biggest thing in this is Walter [smith]. If he says 'don't renew your season tickets', nobody will. [Green] is [looking to be] in and out for a quick kill. Fingers crossed, it will all get sorted."

 

Herald Sport understands that a taxi firm will also withdrawing sponsorship of around £70,000. While Malcolm Murray, the new chairman, claims Green's consortium have a long-term plan, the real intention is to sell the business on quickly.

 

Smith's consortium, backed by Douglas Park, the transport tycoon who was a major sponsor of the Ibrox side, and Jim McColl, one of Scotland's richest men and head of the Clyde Blowers engineering firm, made a £6m bid on Thursday, just before Green's consortium bought the business and assets from the administrators, Duff & Phelps, for £5.5m.

 

As well as refusing to renew season tickets, Rangers fans are planning a march and rally on Saturday, June 23, in support of the consortium fronted by Smith, the two-time manager of Rangers who would become chairman if they successfully complete their proposed takeover.

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Aren't the fans and sponsors just making matters worse? We need everyone behind the club yet some are concenetrating on doing all they can to derail Green rather than support Rangers in getting out of this mess.

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Again it's a bloody mess from top to bottom with us, why did they not do something earlier? Green was the only one doing something to save us even though he is only in it for the money. If Walter and his group got in earlier wouldn't it have saved everyone a lot of trouble and money?

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... and getting essentially at Green and Co.'s throat with press releases rather than talking to the people themselves did not make matters any easier. IMHIO Walter should know the Rangers way to do things.

 

I agree with that, I love Walter and would love his consortium to take over but the grief Green is getting is shocking and doesn't deserve it IMO. Either buy it from Green or don't it's not like they never had time before now.

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of course it would be better if they came in earlier. but they didn't.

 

greens chairman has admitted they don't have a penny for working capital. he should never have been sold the club by d&p. now we all need to do what we can to rectify that.

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Well lets hope it happens sooner rather than later and gets us on the right road, albeit we still have the SPL plonkers to deal with!

 

I just can't see Green walking away at the first sight of trouble.

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