What happens next? The 10 items on Green's immediate agenda

Hugh Macdonald

Chief Sports Writer

Tuesday 15 May 2012

CHARLES GREEN faces a hectic schedule as he attempts to push forward his bid to gain control of Rangers.

Rangers owe Saint-Etienne over £250,000 for Carlos Bocanegra. Picture: SNS

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Hugh MacDonald

The businessman said yesterday that he was seeking meetings with both the Scottish Premier League and Scottish Football Association to discuss "all matters regarding the club''.

It is certain that payments will be on the agenda, though the football authorities would not confirm the suggestion made by the administrators that the placement payment of £2.4m would not be put into any CVA pot but, instead, used to repay debts to such as Celtic, Dundee United, Hearts and the SPL and SFA. Here are the top 10 items on the Green agenda:

1. Secure a cVAThe crucial dates are that a deal to pay Xp in the pound would be offered to creditors around May 21. The consortium will seek approval for this on June 6. This is a tight schedule. Green also faces the immediate problem of how to fund the club post-May. The administrators have said money will run out on May 31. 2. The handling of the taxmanThe major debtors are Ticketus and HMRC. The latter may be more difficult to satisfy. Green has advocated the point of view that ''something is better than nothing'', adding: ''If they turn down the money in the pot then the alternative is that they will get nothing.'' Dr John Beech, senior research fellow and head of tourism and sport at Coventry University, suggests, however, there is every reason to believe the tax authorities will come down hard on Rangers. ''They have played hardball with every club in England over tax,'' he said. 3. The challenge to the SFA sanctionsRangers's appeal against a 12-month transfer embargo and a £160,000 fine imposed by the SFA is scheduled to be heard tomorrow, though there is speculation that it could drag on for some days. The SFA charged the club with six breaches of SFA rules and also banned owner Craig Whyte from Scottish football. The transfer embargo means the club can only sign players under the age of 18 for the next year, impacting severely on plans for the next season. 4. The SPL vote and inquiryThe SPL's vote on financial fair play sanctions which could affect Rangers has been adjourned until May 30. The investigation over alleged dual payments by Rangers continues. Neil Doncaster, chief executive of the SPL, said last week: ''It's a complex investigation and it will be completed when it is completed. It is being carried out by the league's solicitors and it is a hefty piece of work.'' 5. The players: will they stay or go?Much of the discussion on the players has concerned the status of their contracts under any newco. The administrators believe contracts would be transferred with the players' union stating that their members could simply walk away. The more pressing problem for Green is to retain players who have negotiated reduced fees in return for sacrificing 75% of their wages. A transfer embargo, a ban in Europe and the prospect of higher wages in a better league all add up to what must be an irresistible option for many. 6. The UEFA problemThe football debt to other SPL clubs could be addressed by payment of the £2.4m placement money. But how will UEFA react if Rangers plan reduced payments, under a CVA, to clubs outside Scotland? These include as Saint-Etienne (Carlos Bocanegra, £252, 212 outstanding), Arsenal (£136,560, presumably for Kyle Bartley's wages), Chelsea (£238,345 for a friendly revenue), Manchester City (£328,248 for Vladimir Weiss' wages), Rapid Vienna (£1,011,763 for Nikica Jelavic), Palermo (£205,513 for Dorin Goian) and Orebro (£150,000 for Alejandro Bedoya). 7. The consortium conundrumThe make-up of the consortium – with up to 20 members – causes problems in terms of governance. It is difficult to see how Green can keep disparate groups happy. There is a pressing need to form a board and install a chief executive to manage affairs at the club. 8. The Collyer Bristow caseA strand of money destined for creditors is tied to the case against Collyer Bristow, the legal firm that brokered Whyte's takeover. Rangers are seeking £25m. The club believes it has a strong suit and any damages won would be added to the £8.5m pot for creditors. A major problem, however, is that the case will not start at the High Court in London until October. Any money won would not be available until next year. 9. The big tax caseThis has almost taken on mythical proportions with predictions of the outcome ranging from Rangers gambolling happily down Edmiston Drive after being cleared of all wrongdoing, to a fine of more than £75m. The date of the decision of the tribunal has still to be released. Any appeal – by either side – could taken up to a year to resolve. 10. The unknownEvents, dear boy, events was the response by Harold MacMillan when asked what he feared as prime minister. Green faces intense scrutiny from the media and from any unwelcome development when the accounts are fully scrutinised.

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What happens next? The 10 items on Green's immediate agenda

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