Walter Smith gives his support to the new owners of Rangers

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Walter Smith, former manager of Rangers, declared that he supports the new owners of the club and the job they are doing at Ibrox. He is confident that they are working in the right direction and the club will restore its previous glory and condition. Smith was recently assigned as a non-executive director at Rangers, just five months after he tried to buy out the Sevco Scotland consortium owned by Charles Green.

Green declined Smith’s bid for the £5.5million consortium and persuaded Smith to become a part of his group. It seems like Green did a job as Smith joined the Rangers Board a few days ago. Green announced his plans to sell £20million worth of shares to investors and the supporters of the club.

Smith released an official statement as the new non-executive director of Rangers: “ I’m glad to once again be an official part of this legendary club. I want to assure all our supporters that the people in charge of the team are doing their best to reconstruct it and restore its previous condition. I’m confident that the club will soon forget this difficult period of its history.”

He added: “ I’m not just a former manager of Rangers. I’ve loved this club since a young child and I am just one of the thousands of supporters which the club has. As a fan, I assure you that I’ll everything in my power to help Rangers rise.”

It is no secret that Green isn’t the only person responsible for Smith’s decision to join the board. Rangers’ manager, Ally McCoist, has contacted Smith several times, convincing him to join the board and become a part of the club. McCoist stated: “Smith’s experience is welcome to the club. He has proven to be one of the greatest Rangers’ supporters and I believe that his presence at the club will help everyone.”

 

Ex manager Walter Smith seeks to buy Rangers

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A new bid to buy Rangers has been announced by former manager of the side, Walter Smith. The offer is thought to be approximately £6m and Mr Smith will put part of the money in alongside other Scottish businessmen, to include Douglas Park and Jim McColl. Mr Smith has asked the previous leading bidder, Charles Green, to stand aside. Mr Green and his consortium were about to complete their £5.5m purchase.

Mr Smith has confirmed in a statement that he is leading a bid for the club, saying that he and his partners want the club to be in the capable hands of Rangers people, to help stabalise the club. He continued by saying that he had asked Mr Green to step aside so the deal could proceed, saying that the new deal would be in the best interests of the clubs employees, the fans, the creditors and all other stakeholders of Rangers F.C.

This development came on the day the CVA (company voluntary arrangement) was rejected. This failed after Revenue and Customs told the club’s administrators that it would not vote in favour of the proposal. The club required 75% backing to move it out of administration. Rangers Football Club now moves towards liquidation and Mr Green will soon acquire the business and assets of Rangers Fc on a newco basis. On Thursday the administrators confirmed an ‘imminent’ newco deal, following the rejection of the CVA.

Mr Smith, who was at the Ibrox helm for two successful spells, said that the motivation behind the 11th hour bid was simply to save the club, and not because anyone in the group wanted to own Rangers Football Club. The consortium hope to make the club self-sufficient, and stress that long term sustainability is essential.