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Green buys Rangers assets

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

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Rangers' existence in doubt

Today's decision from Her Majesty's Revenue and Customs brings into doubt the continued existence of an Ibrox club competing in the Scottish Premier League.

HMRC rejected plans for a Company Voluntary Arrangement. Credit: Danny Lawson/PA Wire

If Charles Green - who will complete a takeover of the club - forms a new company, he will have to apply to the Scottish Premier League to acquire Rangers` share in the competition. The other clubs in the league will decide whether to accept.

A new Rangers would not be able to compete in Europe for three years under UEFA rules.

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