Rangers as it happened

Charles Green completes his purchase of Rangers despite former manager Walter Smith launching a late bid for control at Ibrox.

14 June 2012 Last updated at 18:13 GMT

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As it happened

  1. 1025: 

    Good morning and welcome to our live text coverage of the latest developments at Rangers.

  2. 1027: 

    Rangers' administrators Duff & Phelps have been meeting creditors at Ibrox this morning.

    A CVA proposal from a consortium led by Charles Green was rejected by HMRC, forcing the club into liquidation.

  3. 1029: 

    Duff & Phelps plan to transfer the business to a 'newco' set up by Green in the next few days.

    Malcolm Cohen and James Stephen from financial company BDO have been appointed as Joint Liquidators.

  4. 1030: 

    Our senior football reporter Chris McLaughlin has been outside Ibrox since early this morning...

  5. 1031:  
    Chris McLaughlin, BBC Sport

    "Creditors meeting at Ibrox took 9 mins. 30 creditors were there. CVA officially rejected. Ally McCoist was there but didn't speak."

  6. 1032: 

    This morning, Rangers declined to comment on speculation that manager Ally McCoist is to quit the club.

  7. 1034: 

    Get in touch to offer your views on the latest developments at Rangers via Twitter using the hashtag #bbcsportsound or send me a message @bbcthomasmcg

    And you can text using 80295 and put #GERS at the beginning of your message.

  8. 1036:  
    Chris McLaughlin, BBC Sport

    "One #Rangers debenture holder said to me as he emerged "the club is gone"."

  9. 1038: 
    BBC Scotland's James Cook

    "A small group of worried #Rangers fans have gathered outside Ibrox"

  10. 1040: 

    To recap briefly on developments in the last couple of days...

  11. 1041: 

    The tax authorities said they would block Charles Green's company voluntary arrangement proposal.

    That development meant Green would press on with plans to form a "newco" Rangers.

  12. 1042: 

    Green, who will purchase Rangers' assets from the administrators for £5.5m and re-form under a new name, said the players will move to the newco under Transfer of Undertakings (Protection of Employment).

  13. 1044: 

    Green's consortium have continued discussions with the Scottish football authorities with the SPL holding a board meeting on Monday where issues at Rangers are expected to figure high on the agenda.

  14. 1045: 

    Scottish Premier League clubs will vote on whether a Rangers "newco" should play in the top flight next season.

  15. 1047: 

    Joe in Falkirk, to 80295: "Nobody likes to to see anyone on the broo but maybe Super Ally can take time to reflect on his past comments that the most important thing is RFC is saved at any cost to creditors"

  16. 1049:  
    Chris McLaughlin, BBC Sport

    "New trading name for #Rangers is: The Rangers Football Club"

  17. 1050: 

    The creditors of Rangers formally rejected the CVA proposal this morning that would've allowed the club to trade its way out of administration - the club entered administration on 14 February.

  18. 1052: 

    Bradley Ferguson using #bbcsportsound: "SPL need 2 use their head when voting; If Rangers are not in the SPL there will be 5 or 6 clubs ending up the same as Rangers"

  19. 1054: 

    Rangers manager Ally McCoist left Ibrox without comment. The club have also declined to comment on speculation that the Ibrox boss, who scored 355 goals in 581 appearances for Rangers, is poised to quit.

    Do Rangers fans want McCoist to continue at the helm?

    Tweet the commentary using #bbcsportsound or send me a message @bbcthomasmcg or text 80295.

  20. 1056: 

    Anonymous text to 80295: "Why don't the SFA and SPL try something different: 18 team SPL and 24 team SFL. The Old Firm should not be relied upon to bring in all the renevue time to expand SPL to bring a more competitive set up: everyone wins in this proposal. Go on everyone knows it makes sense."

  21. 1058: 

    Ally McCoist remained tight-lipped as he left Ibrox; a number of supporters have gathered outside the stadium. However, McCoist was silent as he sped off in a car as the battery of journalists asked questions about his future.

  22. 1101: 

    Ally Hewet: "McCoist has been a credit to the club as a player and manager. I speak for all fans when I say I hope he stays #bbcsportsound"

  23. 1103: 

    Peter McGlone: "The SPL clubs need to listen to their fans and say No to any newco. Sporting integrity must come 1st!"

    Martyn Hammond: "Rangers need to take their punishment like men and accept that Scottish football aren't interested in their pathetic excuses"

    Ricky Mullen: "Rangers must not be allowed back in the SPL, unless it's via the 3rd/2nd/1st div route. It's only fair, football WILL survive"

  24. 1105: 

    Calum Black: "McCoist has been superb but understandable if he feels he has done all he can. SFL/SPL should revamp to 2/3 leagues only"

  25. 1107: 

    Scottish Premier League chairmen face a meeting they will no doubt have dreaded.

    Following news that Rangers will be liquidated they will decide on whether to accept a 'newco' into the league.

    The vote is expected to take place 14 days after the receipt of an application for a 'newco'. Nno application has yet been made by the Charles Green consortium.

    SPL chairmen are keeping counsel on their voting intentions...

  26. 1110: 

    The Italian Bear to 80295: "I've been a season ticket holder for a number of years and a fan all my life and this is the blackest moment I have ever known. I hope we go down to the 3rd division out of pure spite to the other SPL clubs, we'll see how interested sky will be then in our league. Concerning Ally McCoist, I hope he stays, the man has been nothing but a gentleman and been the one light in this dark time. If Green lets him go, they're will be a serious backlash, you do not treat someone who's been there through thick and thin like that."

  27. 1115: 

    Aberdeen have released a statement on recent developments at Rangers...

  28. 1116: 
    Aberdeen chief executive Duncan Fraser

    "(The) announcement that Rangers FC will reform as a new co brings a degree of clarity to the situation.

    "However, there are a number of other investigations ongoing. Like everyone we wish to see them resolved as soon as possible.

    "A large number of our supporters have made their views and feelings very clear and as a club I can assure everyone that these are being taken into account.

    "The integrity of sport in general, and football in particular, must be central to any decision.

    "This issue has our full attention and we will communicate any decisions we take in relation to this situation with our supporters in a transparent way at an appropriate time."

  29. 1120: 

    Derrybhoy1967: "No exceptions, start from the bottom and work their way up. They've brought this on themselves so let them face the karma"

    Alasdair Mann: "Not trying to deflect away from Rangers' problems. We deserve punishment, but surely 10 point deduction was enough?"

  30. 1123: 

    Paula using 80295: "I think that Rangers should be put down to Division 3 and we can start afresh and work our way back to the SPL. That way we can say we took our punishment now move on. As for McCoist leaving, I hope its not true! He has had to put up with a lot and could have walked away a while ago when it all kicked off. Whatever his decision he will always be Super Ally!"

  31. 1126: 

    Interesting statement from Aberdeen chief executive Duncan Fraser. For a Rangers "newco" to remain in the top flight, they would need an 8 to 4 vote in their favour.

    Rangers would have a vote themselves. How do you think it will go?

    Tweet the commentary using #bbcsportsound or @bbcthomasmcg or send a text to 80295.

  32. 1132: 

    Jim, using #GERS in a text to 80295: "Re "Italian Bear". What exactly have the other SPL clubs done to deserve your spite. Rangers have done wrong and the only penalty they have received from the SPL so far is the 10 point penalty for going into administration. It is this attitude that has hardened the opinion of other supporters, not just those from SPL clubs, against Rangers. You, your club and all those associated with it should show some contrition and humility instead of lashing out and threatening everyone else."

  33. 1135: 

    Anonymous text to 80295:"Derrybhoy. were you saying Neil Lennon should be punished heavily for all his antics last season when he got just a poxy wee ban? Rangers should be punished but not as heavily as they have. You want Rangers done because it's Rangers if it were any other team you probably be fine with it. As for McCoist cant blame the man if it's true"

  34. 1140: 

    John Macdougall: "Difficult to see how #rfc can get their new infrastructure sorted out in time to play any football next season."

    Alasdair Mann: "Can't see an 8-4 in Gers' favour, at best 7-5. Clubs will fear relegation but dream of Europe without us. Win-win or lose-lose?"

  35. 1142: 

    Speaking in February 2011, after becoming Rangers' 13th manager, Ally McCoist said: "I'm thrilled to bits, it's as exciting a time as I can think of.

    "I was lucky enough to play for the club for 15 years, but this is an absolute dream and a privilege."

  36. 1145: 

    Jonny in Stirling to 80295: "I hope David Murray is feeling a bit of the fans pain today. But I doubt it."

  37. 1152: 

    Clark Wainwright: "Solution to Scots football: 2 leagues of 20. Rangers demoted to second league. 1 year out of top tier, 3 years out of Europe #bbcsportsound"

  38. 1154: 

    Euan McCaughey: "Without Rangers, how long will it be until our coefficeint is so low Celtic will have 3 qualifying rounds for the Champs League?"

    Do Celtic fans think differently from supporters of the other SPL clubs? Is the Old Firm derby more important to retain than the other SPL clubs entertaining Rangers?

    Send me your thoughts via #bbcsportsound or @bbcthomasmcg and text 80295.

  39. 1158: 

    Our senior football reporter Chris McLaughlin remains camped outside Ibrox and hopes to speak to Charles Green among others...

  40. 1200: 

    Michael Budis: "Rangers deserve severe punishment for non-payment of taxes. The SPL will continue without them."

    Ian McCormack: "Re 1154 - the SPL UEFA co-efficient is already about to suffer as the 2008 UEFA Cup final points fall off. Can only get worse."

  41. 1210: 

    Michael Moyles: "Sad day for Scottish football. We need Rangers, HMRC have destroyed Scottish football. Celtic are now just another club!"

  42. 1214: 

    Rangers supporters' spokesman John Macmillan has been speaking about the latest developments...

  43. 1216: 
    John Macmillan, Rangers supporters' spokesman

    "Morale must be pretty low at the moment," he told BBC Radio Scotland. "We don't really know what's going to happen to the club or who would replace Ally McCoist if he does leave.

    "But the fact he's not making any comment and Rangers aren't, tells me the story."

  44. 1218: 
    John Macmillan cont:

    "I can understand fans from other clubs being upset. But, from the point of view of one of the Old Firm clubs not being in the SPL, it would have a devastating effect on Scottish football.

    "Scottish football isn't enjoying the healthiest of times at the moment and it could only make it worse."

  45. 1221: 

    John MacMillan also says Rangers are hanging on a ''cliff edge''. He said ''fans would be ill-advised to buy season tickets'' for the coming season. He says they'd be putting money into the ''unknown''.

    What do you think?

    Tweet using #bbcsportsound or message me @bbcthomasmcg and via text on 80295 with #GERS at the start of your text.

  46. 1224: 

    Paul Morrison: "In response to Michael Moyles: HMRC did not destroy Scottish football, Rangers FC have and need to be punished accordingly!"

  47. 1229: 

    Rangers fans' spokesman John MacMillan has also been speaking about Charles Green's plans for the club.

    "Charles Green has been asked to name those in his consortium and I can respect people didn't want their names to be bandied about early in the process," MacMillan said.

    "It's all very well getting pledges but is there any hard cash in the bank from the prospective consortium members?"

  48. 1234: 

    Charles Green said he would discuss the latest developments following this morning's meeting at Ibrox. Chris McLaughlin is outside Ibrox for us and will give an update as and when.

  49. 1239: 

    Alasdair Reid: "As a Ger the club needs to take its medicine. The whole of the Scottish game should be redesigned and developed now. #bbcsportsound"

  50. 1244: 

    John McDermid to 80295: "I will miss the Old Firm derbies and the league will suffer through poorer sponsorship and tv deals. However, sporting integrity must come first, clubs will have to tighten their belts financially, but the league will survive, no club is bigger than football. Rangers have committed a crime and need to do the time: 3 years, out of Europe and in the lower divisions, assuming they gain promotion each year!"

  51. 1246: 

    James McQuarrie via 80295: "I'm a Rangers fan and we should pay for what we have done. If that means relegation, then so be it. Also, if the rumours are true about Ally McCoist that is a disgrace and shows that Charles Green does not really have the best interests of the club at heart, he is purely in it to make money. We have suffered through the Whyte saga, this could go the same way."

  52. 1250: 

    Smernicki: "RFC fans repeating "The SPL need Rangers" over & over doesn't make it true. The LAST think it needs is to lose its integrity."

    Russianout: "Can someone explain how Charles Green can buy rfc for £5m? What about the stadium and Murray Park? How can they be worth £5m only?"

  53. 1252:  
    Chris McLaughlin, BBC Sport

    "Strange atmosphere outside Ibrox today. Fans, shareholders and creditors extremely downbeat. Shareholders told no questions at 1300 meeting."

  54. 1256: 
    BBC Scotland's James Cook

    "Big cheer from some 300 shareholders for Ally McCoist inside Ibrox. McCoist waved back. No smile. #Rangers #RFC"

  55. 1300: 
    BBC Scotland's James Cook

    "One #Rangers shareholder said he was worried that Ally McCoist wasn't wearing his tie for the meeting. Could mean everything or nothing. #RFC.

    "Shareholders meeting has just begun."

  56. 1304: 
    BBC Scotland's James Cook

    "Shareholders meeting has begun. Paul Clark of Duff & Phelps addressing shareholders: we have the funds from Mr Green. Sale of assets perhaps this afternoon.

    "Formal business. Accept or reject the CVA. Shareholder asked why they are voting on a CVA that doesn't exist.

    "Meeting is over."

  57. 1308: 
    BBC Scotland's James Cook

    "Fan asks about HMRC policy on CVAs being rejected. Says huge funds generated for D&P. Applause.

    "D&P: we did not make a proposal for a CVA knowing they would reject it. We only heard from HMRC in the last few days. #Rangers #RFC"

  58. 1313: 
    BBC Scotland's James Cook

    "Meeting closed to boos and whistles from shareholders. "How do you sleep at night?" one shouted."

  59. 1315:  
    Chris McLaughlin, BBC Sport

    "Administrators Duff & Phelp say administration will last another 8-10 weeks. #Rangers"

  60. 1316: 

    John in Arbroath using 80295: "As a taxpayer I would expect the liquidator to sell off the Rangers assets to the highest bidder on the open market: not to simply hand them over to a phoenix club"

  61. 1320: 

    Time to recap on today's developments...

  62. 1323: 

    Rangers declined to comment on speculation that manager Ally McCoist is poised to quit.

    Creditors of Rangers formally rejected a CVA proposal which would have allowed the club to trade its way out of administration.

    The decision was taken during a meeting at Ibrox stadium on Thursday, which lasted just nine minutes.

    John Macmillan, general secretary of the Rangers Supporters Association, told BBC Scotland that fans should not buy tickets while McCoist's future was uncertain.

    "I think, for what he's been through, he's held his dignity very well, and for Ally McCoist to even contemplate doing that, then something must be seriously wrong."

    At a shareholders meeting at Ibrox, Paul Clark of Duff & Phelps say they have the funds from Charles Green: sale of assets perhaps this afternoon.

  63. 1325: 

    And Duff & Phelps say administration is to last another eight to 10 weeks...

  64. 1327: 

    Jamie Halliday: "This is all getting confusing now. The supporters need details, answers and certain knowledge of what's going to happen here. #bbcsportsound"

  65. 1329: 

    James Stringer: "There should be a major reshuffle of Scottish football after what has happened! #Rangers #bbcsportsound"

  66. 1332: 

    Ryan Swan: "Ally McCoist is a Ranger through and through. He'll remain with us through thick and thin. He won't walk away. #BBCSportSound"

  67. 1334: 

    Rangers manager Ally McCoist has left Ibrox again, giving waiting the fans the "thumbs up" sign...

  68. 1336: 

    Gordon Kennedy: "How come when the Old Firm were wanting to move to the EPL Walter Smith stated that Scottish football would be more competitive?"

  69. 1340:  
    Chris McLaughlin, BBC Sport

    "Spokesman for the #Rangers administrators tells me that Ally McCoist remains the manager of the club."

  70. 1342: 

    John Duggan: "This is a disgrace the way all this is panning out. It's time for Mr Green to give all Rangers fans a full and detailed explanation of his intensions and back Ally not sack him he is a Rangers Man through and through. If Ally Walks there will be a massive revolt and urge all Rangers fans not to buy 1season ticket"

  71. 1345: 

    Ahmed Asif: "Stop moaning, you've been found to be cheats now take the punishment if you have any dignity or respect for the game #bbcsportsound"

  72. 1350: 

    Kevin McMillan: "Get some billionaires into Celtic and Rangers so they both can start competing against the best in Europe again"

  73. 1355: 

    Thanks for all your texts and tweets on the latest at Rangers. Some very strong views on the Rangers "newco" and also on the future of manager Ally McCoist.

    Keep them coming!

  74. 1359: 

    Macca: "Re Italian Bear - it's comments like this non-Gers fans don't get. No contrition and a 'so what if we don't pay tax' attitude"

  75. 1407: 

    Roddy using 80295: "It's a sad, sad day for all true Rangers fans. If Ally goes it will open the floodgates for others to leave."

  76. 1415: 
    BREAKING NEWS

    Statement from Rangers' administrators Duff & Phelps on its way...

  77. 1416: 
    Paul Clark, joint administrator:

    "A meeting of creditors was held at Ibrox Stadium today at which creditors voted on a proposal for a Company Voluntary Arrangement issued on May 29, 2012.

    "Due to a vote against the proposal by the principal creditor, HM Revenue and Customs, the proposal was rejected. The decision was relayed to shareholders of the company at a subsequent meeting at the stadium.

    "As a result of that decision, which was known in advance of today's meeting, the consortium led by Charles Green is obliged to buy the club's business and assets and that transaction will be completed imminently."

  78. 1420: 
    Paul Clark cont:

    "As announced previously, a liquidator will undertake the liquidation of The Rangers Football Club plc but this process will not begin until the period of administration is brought to an end formally in due course.

    "The decision of the creditors' meeting has been a major disappointment for Rangers supporters and this was not our preferred outcome as administrators. However, we should make it clear that Rangers Football Club will continue within a new company structure and the club survives and will continue playing football at Ibrox."

  79. 1424: 
    BREAKING NEWS

    A source close to Rangers manager Ally McCoist has told BBC Scotland that speculation he's on the verge of leaving Ibrox is ''paper talk".

  80. 1426: 

    Robert Simpson: "Charles Green will be lucky to sell one season ticket if Ally walks. Let's keep calm and wait till the end of play."

    Tom Merrick: "Will be in administration for 8-10 weeks? Please explain, confused with this."

    Hi Tom, my understanding is that liquidators don't take over until the administrators have left Ibrox.

    Malcolm Cohen and James Stephen from financial company BDO have been appointed as Joint Liquidators.

    Cohean said: "It's important to understand that the appointment of liquidators will not mean the end of football at Ibrox - only the end of the company that ran the club."

  81. 1429: 

    Daniel McGuire: "Bring it on, if we turn out to be the first team in Scottish history to win all the leagues then all the sweeter."

  82. 1431: 

    Bryan: "The integrity of Scottish football, I wonder how much it will cost!"

  83. 1433: 

    I'm digesting Duff & Phelps's latest statement along with a Star Bar and cup of tea!

  84. 1436: 

    Ricky Mullen: "The arrogance of Rangers fans is beyond belief. Absolutely mind-boggling. #bbcsportsound"

    Colin Cameron: "Blaming other SPL clubs or HMRC for the situation is like blaming the police if you get caught stealing the neighbour's telly"

  85. 1440: 

    Just a wee reminder when sending your texts via 80295. If you can put #GERS at the start of your message then I can cherry pick the best. Thanks!

  86. 1442: 

    A.J. from Coventry using 80295: "Let's be true Rangers: take this on the chin, stand up, dust ourselves down and get on with it. As for Celtic supporters, I couldn't care what you think."

  87. 1445: 

    Garry King: "Star Bars should be with coffee"

    Controversial! Nearly spat oot my tea there...

  88. 1450: 

    We've asked the SPL for its view on the latest developments at Ibrox and are awaiting a response...

  89. 1455: 
    BREAKING NEWS

    BBC Scotland's Alasdair Lamont reports that Rangers are expected to name Malcolm Murray as the club's new chairman, should Charles Green's consortium completes its takeover.

    Murray is currently director of MWB Business Exchange PLC and was involved with Manchester United when they floated on the London Stock Exchange in 1991.

  90. 1457: 
    BREAKING NEWS

    Former Rangers manager Walter Smith has confirmed in a statement that he is leading a new bid to buy the club.

  91. 1500: 
    Walter Smith statement

    "I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club.

    "I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective - that Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.

    "With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the "Newco" basis on which Mr Green is proceeding.

    "We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.

  92. 1502: 
    Walter Smith statement cont:

    "None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the club.

    "However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.

    "Let's be clear, this is an acquisition designed to stabilise the club and ensure history does not repeat itself.

    "We are not in this to take money out of the club but more so to do whatever it takes in a turnaround plan to ensure within a few years the club can be passed on intact and to the right people.

    "The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the club inside and out to control its destiny.

    "The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.

    "I would hope that this offer is fully supported by everyone in the Rangers Family as without them the club cannot and will not survive.

    "We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for."

  93. 1504: 

    Apologies for publishing the entire Walter Smith statement, but this story has taken yet another dramatic turn...

  94. 1506: 

    Closer examination of Walter Smith's statement sees a number of lines leap from the page.

    Smith says his group has "no desire" to own the club but stresses that its action is designed to safeguard it.

    The former Rangers boss, who was succeeded by Ally McCoist last year, said he wants to "ensure the stadium, te history and everything else magical about Rangers Football Club is protected and nurtured back to good health".

    And Walter Smith has urged Charles Green and his consortium to "step aside and allow us to proceed with our deal".

  95. 1508: 

    What do you make of that explosive statement from Walter Smith? Tweet using the hashtag #bbcsportsound send me a message @bbcthomasmcg or text via 80295 using #GERS at the start of your message.

  96. 1512: 

    Andy King: "Now Walter Smith is involved!!! This has more twists and turns than a episode of Taggart in its heyday."

    I've put my back out trying to keep abreast of the latest turn of events...

  97. 1514: 

    Lee Symes: "More uncertainty = more uncertainty regarding meeting fixture commitments, so will they be in any league next season? #bbcsportsound"

  98. 1516: 

    We're chasing reaction to Walter Smith's statement and still hope to hear from Charles Green. I would imagine the developments may come into his thinking...

  99. 1518: 

    Kenny to 80295: "Get Rangers people in charge of the club to sort this mess out. Walter will sort it!"

  100. 1520: 

    How will Walter Smith's intervention play with Rangers fans? The former boss who helped to steer the club to nine in a row has made a late, late run at the back post to save the club.

    How will Charles Green react to Smith's appeal for him to step aside?

  101. 1525: 

    Richy Black: "Just a thought Walter, but wasn't it #Rangers people who got the club INTO the mess it's in? It's not ALL Craig Whyte's doing #bbcsportsound"

    Kevin McLaughlin: "Sorry, but where has Walter & his "prominent scottish businessmen" been all this time? As for protecting the history, too late!"

  102. 1530: 

    Nick in Glasgow via 80295 using #GERS: "What a twist! I do hope Rangers get out of their troubles - the supporters deserve better than to have their club dumped into administration."

  103. 1534: 
    BBC Scotland's Alasdair Lamont

    "The message from within Charles Green's camp re Walter Smith-fronted bid is: talk to us if you want to buy club, not admin or liquidators.

    "Their investors are looking for a return on the money already spent on legal fees, etc. That shouldn't stop men of McColl and Park's money."

  104. 1537: 

    Dinkydarko: "Was Smith not one of those who got Rangers into this mess? He spent lots of the money? If I were a fan, I'd have him b4 green #bbcsportsound"

  105. 1540: 

    James on 80295 using #GERS: "What compensation do Dundee, Livingston and the late Gretna deserve if Rangers get to start a new co in the SPL after liquidation? Sorry but can't have rules for some and not for others"

  106. 1542: 

    Sandy MacKenzie: "Rangers People' responsible for this debacle Walt. We've had the Blue Knights now, the White Knight with a short memory!"

  107. 1544: 

    BBC Scotland understands the Walter Smith-led bid for Rangers assets is worth £6m - half a million more than the Charles Green-led consortium.

  108. 1546: 

    Dvd Mlclm: "Only paying the full current amount of outstanding tax and debt could sort this. Or a very generous CVA #bbcsportsound"

  109. 1549: 

    Pete using #GERS to 80295: "Can I just remind any excited Rangers fans that Walter Smith and his merry men are not bidding for Rangers. They are bidding for the assets to set up a new club. Rangers are extinct, no more, dead. This new club will start with a history of zero trophies won."

  110. 1552: 

    Donald Reid: "Does Smith's statement shed any light on the McCoist situation? #Rangers"

    No Donald. The statement focuses on the club. Earlier, a source close to Ally McCoist told BBC Scotland that the speculation over his future was "paper talk"...

  111. 1554: 

    Now then. Where would this leave Duff & Phelps's agreement with Charles Green? We're doing our best to get more reaction to this afternoon's bombshell.

    There will be a special Sportsound programme on BBC Radio Scotland tonight from 18:10 until 19:00 BST on 810MW.

  112. 1556: 

    Maggie Stewart: "Just want this debacle sorted. Season ticket money burning a hole in my pocket... ticket/new shoes/designer jeans, ho hum"

  113. 1600: 

    Gregor Orr: "Charles Green is an opportunist who isn't going to walk away from this deal without lining his own pocket first."

    Bringthemonjpn: "Super duper news on the Walter news... Here we go, here go."

  114. 1605: 

    Alistair Thomson: "Any chance we could get a straw poll of how SPL fans would vote on the entry of the newco? #gers #bbcsportsound"

    Good idea Alistair. Right, how would you vote on a newco Rangers in the top flight?

    Tweet the commentary using #bbcsportsound send me a message @bbcthomasmcg or text via 80295.

  115. 1610: 

    Thanks for your responses to the Newco being/not being voted into the SPL next season. A sample of what I've received to follow. Keep them coming!

  116. 1612: 

    Sean Mackenzie: "I say no to a newco Rangers as a Ross County fan. We took 18 years of honest endeavour to reach the SPL."

    Stuart Adam: "No to newco being in the SPL, should start at bottom #jagsfan #justice"

    Scott Tolmie: "As a Gers fan Div 3 for me,let the rest suffer"

  117. 1615: 

    Matthew Turgoose: "Being a Celtic fan, I naturally want Rangers to scrap it out in the third division. No Old Firm games does terrify me though!"

    Sean Graham: "Forget about any financial implications of not having a newco in the SPL, morally it would be an atrocity. #bbcsportsound"

  118. 1620: 
    BREAKING NEWS

    Here we go again. Statement from Charles Green on its way...

  119. 1622: 

    Charles Green has confirmed he has completed the purchase of the business and assets of Rangers.

  120. 1623: 
    Charles Green statement:

    "Following the formal decision of the creditors' meeting at Ibrox Stadium today, the consortium I represent has fulfilled its agreement with the administrators and has completed the acquisition of the business and assets of The Rangers Football Club plc.

    "The transfer of the business and assets to a new company structure has taken effect immediately and the new company is The Rangers Football Club.

    "An application has already been made by the company to register with the Scottish Football Association and to participate in the SPL.

    "These applications will be considered over the next few weeks and I will continue to have discussions with the football authorities in relation to the Club's position.

    "This day is bitter-sweet for the consortium I represent. From our first involvement we made it clear we would have preferred to acquire this great Club through a CVA.

    "The decision by HMRC to vote against the proposal was, in my view, counter productive and did nothing but visit the sins of the past on the owners of the future and indeed the supporters who care so much for Rangers and deserve better.

    "It was however prudent for us to prepare for this outcome and we are proud and honoured to acquire Rangers and begin a new chapter in its illustrious history.

    "These are early days and there is a huge amount of hard work to be done to rebuild Rangers...

  121. 1625: 
    Charles Green statement cont:

    "It will take time and effort, passion and commitment. Rangers will rise again and that journey began in earnest at Ibrox today.

    "First I must address the issue of the Manager's position at the Club. Our consortium wants Ally McCoist to remain as Manager and we firmly believe he is the man to take Rangers forward.

    "He embodies everything that is great about the Club and without question we want him to continue as the Rangers Manager.

    "I fully understand that other people have courted Ally who do not wish to see my consortium succeed however, I believe time for decision and rancour is over now that the Club has been sold and everyone with the interests of Rangers at heart should unite.

    "The rebuilding of the Club will happen from today.

    "As I have stated previously, it is our intention that no single investor or institution will own more than 10-15% of the shareholding.

    "One of the saddest aspects of the refusal by HMRC to support a CVA is that small shareholders have lost their shares in The Rangers Football Club plc.

    "However, supporters and shareholders will have the opportunity to invest in the new company.

    "My consortium has been determined from the outset that from now on Rangers will be run to the highest standards of corporate governance.

    "To that end, the Club will have two boards in the future - a company or plc board and a football board with appointments announced in due course.

    "In terms of investors in the company, to date our investors include Chris Morgan, a UK-based businessman representing family trusts; Glenmuir, the renowned Scottish clothing company; Ian Hart a Glasgow-based businessman; Alessandro Celano of Blue Pitch Holdings and Zeus Capital.

    "We are looking to expand that investor base and are in discussions with a number of interested parties.

    "I have been greatly encouraged by the enthusiasm investors have shown and their belief that Rangers can have a great future. I believe that too and I, along with everyone at the Club, will work tirelessly to make it happen."

  122. 1627: 

    Charles Green confirms an application has been made for The Rangers Football Club to play in the SPL - however, the SPL says it has yet to receive that application - and he says today is "bitter-sweet" given his preferenceto acquire Rangers through a CVA.

  123. 1630: 

    Green says he wants Ally McCoist to remain as manager, adding: "the rebuilding of the club will happen from today."

  124. 1632: 

    Gordon Muir: "St Johnstone fans forum Weareperth poll. Votes cast 194. No votes 185. I think the message is loud and clear from the fans."

    Ken Godwin: "Rangers fans really think if they go into division 3 the rest of the SPL will suffer, eh not really."

    Quiraing: "#bbcsportsound lifelong #Rangers fan. #notonewco #votewalter"

    Gary: "No 2 newco in SPL, start again in the third div, this could b the making not the breaking of Scottish football #bbcsportsound"

    Soccty123: "bbcsportsound #notonewco #stmirrenfan"

  125. 1635: 

    David Trotter: "Rangers should not go begging to be back in the SPL. As a gers fan, they need to start at the bottom now #bbcsportsound"

    Hector_1888: "The death of Scottish football is letting New Co into the SPL #bbcsportsound"

    Andrew Thomson: "Integrity comes first #notonewco #bbcsportsound #dons"

  126. 1640: 
    John Macmillan, Rangers' fans spokesman

    "After hearing the earlier news about Walter Smith (my feeling) is now one of disappointment.

    "I'm sure most Rangers fans would've been delighted if Walter Smith would've taken the club over.

    "I don't know if it's too late for that or if he can persuade Charles Green to hand the business over to him."

  127. 1644: 

    Del from Dundee using 80295: "Charles Green says the newco have applied for a place in the SPL but surely there is no vacancy if the original Glasgow Rangers are still in the league. Should the administrators not first resign from the SPL to create a vacancy for the new club? Obviously if they were to resign, or be expelled, they would quite rightly not be able to vote on their replacement."

  128. 1647: 

    Andy Murray: "As a Rangers fan would rather see us do the right thing and work our way back up from Div3! I'll still them no matter what! #bbcsportsound"

    Craig Campbell: "Would "The Rangers" not need to have new club badge and need to negotiate sponsors/kit manufacturers?"

  129. 1650: 
    BREAKING NEWS

    Another statement coming from Ibrox...

  130. 1652: 
    Rangers statement:

    "Charles Green has been appointed CEO and will sit on the Company or plc Board and Malcolm Murray will be Chairman.

    Malcolm Murray said: "It's a great honour to be invited to become non-executive Chairman of an iconic football club.

    "I am intensely proud to have been a supporter since my father took me to Ibrox for my first match and Colin Stein scored a hat-trick on both our debuts.

    "I was hooked from that moment on and as a supporter and season ticket holder I have been - like all Rangers fans - utterly appalled by what has happened to the club.

    "Those responsible for bringing the club to its knees should start by apologising to supporters who have been left to face the consequences."

    Rangers also said: "The club also announced that Brian Stockbridge will be Financial Director while Imran Ahmad of Zeus Capital, who are highly experienced in the flotation of football clubs, will join the Board as a non-executive Director."

  131. 1655: 

    I'll keep our live text coverage going up to and including our Sportsound special tonight: which gets under way at 18:10 BST on 810MW with our flame-haired presenter Jim Spence.

    Stay with me!

  132. 1658: 

    Rob, keeping up to date in Barcelona, using 80295: "Where do all these fans from other SPL clubs (excluding Celtic) expect the black hole left by the reduction of TV money and gate receipts to be filled from? Yes every other club will need to tighten their belts, but that cannot happen instantly and how many other teams will be pushed to the wall because of this? As a Rangers fan I am not saying we don't deserve to start in Div3 but while this may keep the integrity of the Scottish game, there is a very strong chance it could also completely kill it."

    Hope you've got the suncream on and the hanky on the head Rob!

  133. 1701: 
    BREAKING NEWS

    There is a media conference getting under way at Ibrox as we speak (type) - I'll bring you the latest as soon as I have it...

  134. 1703: 

    "When is the tax case verdict due?" asks Luke in Oxford via 80295.

    A very good question Luke. We're waiting, waiting, waiting...

  135. 1705: 

    David Bayne: "The SPL need Rangers for revenue without revenue there be a few clubs struggling to survive, Walter Smith in as well"

    Brynmor Thom: "Will Green hang around if the SPL vote goes against? As a Gers fan I am hoping for a fresh start in Div 3 under Watty and Co."

  136. 1707: 

    James Bundy: "Celtic fans clearly showed their disapproval of a Newco entering the SPL and so have the Aberdeen, Hearts, Hibs and D United #bbcsportsound"

  137. 1710: 
    BREAKING NEWS

    Ian Hart has confirmed that he is not part of Charles Green's consortium, which is set to take control of Rangers.

    Green named his investors yesterday, and included Hart in his list, but the Glasgow businessman has strenuously denied the claims, and restated his support for Douglas Park, who is part of the group led by Walter Smith that is attempting to buy the club from Green.

  138. 1712: 
    Ian Hart statement:

    "A number of years ago I invested in the youth development department and that money was lying in the youth development department," he said. "At the time when Charles Green was the preferred bidder and was going for the CVA, I allowed that money to be used in order to get a CVA, but I am not part of his consortium.

    "That was on the basis that he was going for a CVA, for the simple reason of trying to help to save the club. But I am not part of his consortium and I've been behind Douglas Park in the previous bid with the Blue Knights.

    "I spoke with Douglas yesterday and today, and I was very happy to be involved in putting more investment into the bid by Douglas.

    "I am not part of Green's consortium. I remain in full support of Douglas Park."

  139. 1715: 

    Anonymous text to 80295: "Why are non-Rangers fans so upset about a 'newco'? It achieves more or less the same as a CVA and is more common. Only difference is creditors receive even less but they weren't going to receive much anyway. Rangers are getting pretty much starting from scratch either way."

  140. 1718: 

    Trying to ascertain what's being said at the Rangers media conference. Given today's events, anything's possible. The mind boggles...

  141. 1720: 

    John from East Kilbride via 80295: "With no Rangers there, Celtic cant block changes to the SPL. Time for sharing the money fairly. A new era."

  142. 1723: 

    John DC Gow: "Thomas, can you report more on Rangers situation, rather than pushing "no to newco" stuff? Cheers mate. #bbcsportsound"

    Hi John, we're publishing a range of tweets and texts we've received during the course of the day. As always, we try to offer a wide and varied range of views. Cheers!

  143. 1726: 

    Quiraing: "Charles Green's statements tonight sounding more and more desperate. Clearly rattled by Walter's "stand aside" statement"

  144. 1728: 
    BBC Scotland's Douglas Fraser

    "Charles Green, new owner of #Rangers football club assets, dismisses as "rubbish" the story that he wants manager Ally McCoist to leave"

  145. 1733: 
    BBC Scotland's James Cook

    "Charles Green says he has only spoken to Ally McCoist for 10 seconds today. Has only met him six times. #Rangers #RFC"

  146. 1736: 

    Andy: "So does this now mean the Walter Smith offer is dead in the water? I am so confused and I'm an accountant !!"

    I would imagine Walter Smith would be keen to speak to Charles Green now on that very issue...

  147. 1739: 
    BREAKING NEWS

    News from the Rangers media conference at Ibrox.

    Charles Green has issued a formal offer to Walter Smith to become chairman of The Rangers Fooball Club Board. He says if Walter wants that position he'll appoint him at 09:00 BST on Friday morning.

    He wants Ally McCoist to be the manager 100% although he hasn't spoken to him about it.

    He won't sell his shares to Walter Smith's consortuim. He only has a small share.

    Imran Amed (non-executive director), said that as well as the £5.5m, the cost incurred are up to about £10m. Other investors would be looking for a multiple of that if they were to sell their shares.

    Green described newspaper speculation about him getting rid of McCoist as "rubbish".

    "I don't stab people in the back I do it in the chest," he said.

    Green has invited Walter Smith's consortium to come with them and take the club forward.

  148. 1741: 
    BBC Scotland's Douglas Fraser

    "Rangers Supporters Trust ask fans to delay renewing season tickets, backing the Walter & Co bid, putting pressure on Charles Green to sell"

  149. 1743: 

    What do you make of Charles Green's offer to Walter Smith to become chairman of the new Rangers?

    Tweet the commentary #bbcsportsound send me a message @bbcthomasmcg and text 80295 using #GERS at the start of your message.

  150. 1745: 

    David Jack: "Charles Green understands that Walter Smith brings a lot of season ticket money with him; hence moves to get Smith on board. #bbcsportsound"

  151. 1747: 

    A reminder that a Sportsound special gets under way at 18:10 BST on 810MW tonight. I'll be across that too and it'd be good for you to keep firing in tweets and texts during the course of the programme.

    I'll keep our live text coverage going until 19:00 BST.

  152. 1750: 

    I must confess, when we started reporting on the latest developments at Rangers this morning no-one in the office would've believed Walter Smith's name would be linked with a late, late bid to seize control of the club.

  153. 1752: 

    Neil in Edinburgh using 80295: "Gers fans claiming to be concerned about SPL if they get demoted. Where was this concern when there were talks of joining the Premiership?"

    Big Arch: "They have got to stay in the SPL as it's too late to apply for the 3rd Division"

  154. 1800: 
    ROUND UP

    A brief recap of today's developments.

    Responding to speculation over the future of manager Ally McCoist, Charles Green insisted he wants McCoist to continue at the helm.

    Green completed his purchase of Rangers, despite former boss Walter Smith launching a last-minute bid to buy the club.

    Smith said he would be assisted in his bid by Jim McColl, Douglas Park and "other prominent Scottish businessmen".

    And the former Rangers boss said his group was now calling on the Green consortium to "step aside" and allow his group to proceed "in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club".

  155. 1812: 
    Charles Green

    "No-one has approached me with a bid to buy the club. It's me in the hotseat now."

  156. 1813: 

    Graham Nash: "What do you make of Charles Green's offer to Walter Smith to become chairman of new Rangers?" How must Malcolm Murray feel?!!"

  157. 1815:  
    Chris McLaughlin, BBC Sport

    Rangers fans have been downbeat; they've watched their club being kicked from pillar to post. There's also scepticism towards Charles Green.

    "Walter Smith will now be the popular vote. The fans will be looking at Smith's statement and saying: "this is what we've been waiting for."

  158. 1817: 
    BREAKING NEWS

    Another statement to follow. This time from businessman Jim McColl, who is part of Walter Smith's camp...

  159. 1818: 
    Jim McColl, part of Walter Smith's group

    "I would issue a public appeal to Charles Green top strongly consider selling the club to the Walter Smith consortium.

    "This would be in the best interests of Rangers Football Club, the Rangers fans and all of Scottish football. Mr Green does not have the backing of the Rangers support and the longer he delays the harder the situation will become."

  160. 1820: 

    Charles Green has Ibrox Stadium, Murray Park and the assets; Walter Smith has the emotional attachment with the Rangers supporters. What's going to happen next?

  161. 1821: 

    Mark McArdle: "Consigned to BBC's live feed of RFC situation at work. Seems to be moving at a breathless pace! Crazy/interesting/chaotic day #bbcsportsound"

  162. 1823: 

    George Steel, Dons fan using 80295: "For the good of Scottish football Rangers should resign from the SPL and apply to Div 3. That way they keep some dignity and take the pressure off the rest of the SPL chairmen."

  163. 1825: 

    Anonymous Rangers fan via text to 80295: "Charles Green owns Rangers. That means if he chooses he can sell it, to Walter's group or anyone else. As things appear at the moment, he could make an overnight profit of half a million by doing so. Alternatively, he could bring Smith, Park, McColl etc on board as directors or whatever, which would seem to dovetail well with his recent statements. I don't get how Rangers could now vote on the admission of the newco, as newco owns the assets, which surely include the SPL share, but perhaps that share has been excluded from the sale, in which case oldco would technically have a vote. Don't know how that would be exercised, but in any event I think Rangers should abstain from the vote, which would leave newco needing votes from eight of the other eleven. As a Rangers fan who has been visiting Ibrox since 1973, my preference now would anyway be a new start from Division Three."

  164. 1827: 
    BBC Scotland's Business Editor Douglas Fraser

    "Charles Green is keen for those with experience at Rangers to come into the fold.

    "We're now in the position, where Green rightly says he's in the driviing seat.

    "An offer reportedly worth £6m has been made by Walter Smith. All of a sudden he's come in with some major players and to make Charles Green an offer, they'll hope, he can't refuse."

  165. 1830: 

    Craig Campbell: "Are people forgetting that the SFA could still ban "The Rangers" from all competitions for a year."

  166. 1832: 

    Anonymous text to 80295: "Let's think of one thing here. Charles Green was the last man standing and has now concluded a deal that was agreed weeks ago. For all the respect I have for Walter, this was not the right time to suddenly pull a stunt. Let's hope that any talk of ticket boycotts is quickly swept aside or CG and the new owners might see selling to the property developers a far better proposition."

  167. 1837: 

    Cecil: "Anonymous Rangers fan via text" the share can't be transferred without a vote on it by SPL members."

  168. 1843: 
    BBC Sportsound pundit Jim Traynor

    "You'll notice that, despite being asked repeatedly throughout the day by all of those outside Ibrox, Ally McCoist has not denied he's set to leave.

    "Ally McCoist won't work with Charles Green and he believes Green was going to sack him."

    Earlier, Green described speculation about him getting rid of McCoist as "rubbish".

    "I don't stab people in the back I do it in the chest," he said.

  169. 1846: 
    BBC Scotland's James Cook

    "As Charles Green left Ibrox tonight, having just become #Rangers CEO, he was booed by fans who say they want him out. #RFC"

  170. 1850: 

    Jaime Letelier Hay: "So do Rangers have any money at all now? What's going on with the transfer embargo? Is this now null and void or what?? #GERS"

    The Scottish FA's judicial panel will consider the case again - date yet to be confirmed - after Lord Glennie ruled at the civil court that the ban imposed on Rangers by the SFA's independent tribunal was unlawful and outwith the organisation's powers.

  171. 1853: 

    John DC Gow: "For the sake of clarity, can you point out "The Rangers FC" has always been the name of the club? *The* Rangers is not new. #bbcsportsound"

  172. 1855: 

    Chris Gow: "Has anyone asked Walter why his consortium waited until the day liquidation of oldrfc was confirmed to be going ahead?"

    Unfortunately, we've been unable to contact Walter Smith this afternoon...

  173. 1857: 

    Michael from Glasgow using 80295: "What exactly does the Green Consortium now own? If it's Ibrox and Murray Park does that mean the Floating Charge issues have been overcome??? And can the sale of the prize assets for such a low amount be open to challenge by the liquidator (when appointed) under Scots Law - Gratuitous Alienation surely applies here!? The liquidator will have a statutory responsibility to the creditors (including taxpayers) to realise the highest amount possible from the liquidated assets. Lots of unanswered questions."

  174. 1859: 

    Jim O'Connor: "Walter must be the man"

  175. 1900: 

    What a day. Thanks for your company, tweets, texts and comments during the course of a turbulent afternoon involving Rangers.

    Please stay with the BBC Sport Scotland website for any further developments this evening, our senior football reporter Chris McLaughlin will file a report on Reporting Scotland imminently and there's a Rangers Special on Newsnight on BBC Two Scotland later.

    Geoff Webster will reflect on a pulsating day on Good Morning Scotland from 06:00 BST on Friday.

    Cheers.

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