ian1964 10,879 Posted September 29, 2012 Share Posted September 29, 2012 Charles Green has embarked on a battle with oldco Rangersâ?? administrators to lay claim to £283,000 worth of UEFA cash currently sitting in an SFA account. In a unique stand-off, the chief executive of The Rangers Football Club has queried the governing bodyâ??s failure to hand over UEFA compensation for the participation of Ibrox players in Euro 2012 qualifying ties. Green argues that the money should go straight to his regime following their £5.5million purchase of the clubâ??s assets in June. Sportsmail understands, however, that the SFA are withholding the cash due to a rival claim from Duff & Phelps â?? administrators for oldco Rangers. Cash battle: Rangers owner Charles Green (left) is taking on the administrators Joint administrators David Whitehouse and Paul Clark believe the cash covers the period when Rangers FC were contributing players to national teams and, therefore, should go into the creditors pot for those left high and dry by the lurch of the oldco towards liquidation. With no resolution in sight, the matter is now believed to be in the hands of lawyers. In a side effect of the row, Rangers legal representatives Biggart Baillie have been forced to choose between acting for Rangers FC 1872 or The Rangers Football Club, amidst fears of a conflict of interest. In a statement this week, the Yorkshireman railed against the failure of the SFA to pay the money straight to him. â??Rangers FC were due in excess of 300,000 euros for player participation in the Euro 2012 qualifiers, (but) the SFA have refused to confirm that the monies are due to Rangers FC despite obligations placed on them from UEFA that these monies should be distributed to member clubs.â?? Cash injection: Rangers could be set for a much-needed windfall The SFA will await legal clarification on who should be paid the cash before paying out. Meanwhile, Green claimed there are potential investors willing to buy more than £1million-worth of shares in the club. This week, the Ibrox chief executive gave more details of the clubâ??s impending share issue to fans in Northern Ireland with information to be sent to supporters next month. Green told the clubâ??s official website: â??Itâ??s still early days and a lot of the technical and financial information is not yet available, but we were explaining to them the process and explained who would be invited to join. â??That group is existing season ticket holders, former shareholders, former bond holders, employees and members of the fansâ?? groups. â??They are the only people â?? other than institutional investors â?? who will be allowed to buy shares and thatâ??s the reward we are giving fans for their continued loyalty, investment and support over the years. â??One correction I would like to make is that shares are not going to be £500 each, the minimum anyone can invest is £500. â??There will be people who will want to invest small amounts, but there were people we were talking to who want to invest seven-figure amounts.â?? Read more: http://www.dailymail.co.uk/sport/foo...#ixzz27oeg6rfC 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 29, 2012 Share Posted September 29, 2012 tbk were critisied for laying claim to money owed to the club. but it made sense. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 4,287 Posted September 29, 2012 Share Posted September 29, 2012 Looks to me like a sensationalist headline over nothing. There sure is conflict over this UEFA money, but I would expect a number of phone-calls betwen the lawyers of oldco and newco can settle this easy enough. Cash injection: Rangers could be set for a much-needed windfall Where did the reporter got that notion from? Looks like another cheap snipe to me. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted September 29, 2012 Share Posted September 29, 2012 Was just going to say the same DB of all the clubs in Scotland we are the last that needs a windfall. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted September 29, 2012 Share Posted September 29, 2012 tbk were critisied for laying claim to money owed to the club. but it made sense. The criticism was relying on it for their bid. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 29, 2012 Share Posted September 29, 2012 The criticism was relying on it for their bid. not at all. the criticism was for not leavi.g it behind. their bid was financed by the 5.5 million in the Barclays wealth account. anyway back on topic I suspect this will go to the oldco as most of these players were never owned by the newco and were playing for oldco at the time. the creditors will demand it and if green made no claim on it which I assume he didn't they will get it. I assume he didn't as he got none of the criticism tbk got. but then I assumed the same about the SPL prize money and it turned out he had claimed that. 0 Quote Link to post Share on other sites More sharing options...
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