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Charles Green completes purchase of Rangers assets

Charles Green pictured outside Rangers' Ibrox stadium last week. Credit: PA

Charles Green today completed his purchase of Rangers` assets - shortly after former manager Walter Smith announced an 11th-hour bid.

Green completed his £5.5million newco acquisition after his Company Voluntary Arrangement was formally rejected.

The former Sheffield United chief executive stressed he wanted Ally McCoist to stay following morning reports that the manager was on the verge of quitting after apparently discovering that Green planned to replace him.

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Rangers takeover deal agreed

Former Sheffield United chief executive Charles Green has agreed to buy the club Credit: Reuters

Former Sheffield United chief executive Charles Green has agreed a deal to buy Scottish Premier League side Rangers.

DUFF and Phelps, the administrators of Rangers Football Club, issued the following statement:

"We are very pleased to announce that we have accepted an offer from a consortium headed by Mr Charles Green for the purchase of Rangers Football Club."

"Mr Green has secured, via a substantial financial commitment, a period of exclusivity to complete the purchase of the Club and this is expected to be finalised at a creditors' meeting on June 6."