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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 to take step towards liquidation

Rangers will take a step towards liquidation today when the club's prospective owner Charles Green has an offer to creditors officially rejected at a meeting at Ibrox.

Prospective Rangers owner Charles Green at Ibrox Stadium. Credit: Andrew Milligan/PA Wire

Her Majesty's Revenue and Customs have already confirmed they will oppose the Company Voluntary Arrangement proposal, ensuring it does not achieve the 75% backing required.

The vote is therefore academic but some of the unsecured creditors, who are collectively owed at least £55million, will at least get the chance to quiz the administrators and Green about the club's situation. Green now plans to push through a £5.5million purchase of the club's assets.

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