Green eyeing Ibrox return
Former Rangers chief executive Charles Green is launching a bid to return to Ibrox as a director by fronting a ÂŁ10 million investment in the club from an American billionaire.
New York based George Soros has told Green to make his move within the next 7 days by offering existing Rangers shareholders 20p per share to become the company’s biggest shareholder.
If that move fails, Soros and Green will offer the current board a ÂŁ10 million loan at 5% interest, with the Murray Park training ground taken as security on the deal.
Clyde Sport understands Green would then return to the club as a director with a new chief executive to be appointed to replace the current man in charge, Graham Wallace.
The move would also throw into question the future of Rangers manager Ally McCoist with both men known to be fans of club legend Brian Laudrup.
Green still has close contacts with the current Rangers board through Sandy Easdale.
Mr Soros has been involved in Major League Baseball in the United States and currently has a 1.9% stakeholding in Manchester United.
He played a significant role in the transition from communism to capitalism in his native Hungary in the 1980s and is a well known currency speculator who gained the title, “The man who broke the Bank of England” in the 1992 Black Wednesday currency crisis.
Forbes magazine has listed 83 year-old Soros as the 27th richest person in the world as recently as 2 weeks ago and he’s the 7th richest man in America with a net worth of £23billion.