Final act of Heroism from Craig Whyte

Just a few days after the Blue Knight’s offered Craig Whyte £500k for his shares in Rangers Our Hero sold to Charles Green, who is now owner of the embattled football club, for £2.  Craig has doubled his money in a year after buying Rangers for £1 last May, but as he accepted a bid for his shares a quarter of a million times smaller than that of the Blue Knights, curiosity has peaked.

For many months Celtic Quick News has billed Craig Whyte as the only show in town, that he would only sell to someone who paid his substantial asking price, or who was his proxy.  No one is suggesting Whyte has pocketed £2 for his trouble and dropped off the scene in a sudden bout of benevolence.  There is clearly tons we don’t know about this deal.

We’re grateful to Paul McConville for his research on Charles Green today.  I am sure Paul only spent a short time researching the subject but it was nonetheless a fruitful endeavour.

I may have missed specific reference to his security over Ibrox but Mr Green does not have the disposition of someone who owns a football club without a ground, so it would be reasonable to assume that Whyte’s security is now in the control of Green.  In time we’ll find out how these assets changed hands but I suspect nothing will be said publicly on this subject for now.

Craig Whyte did not start the Rangers crisis, he never had an EBT from the club and he repaid all of Rangers bank debt.  He has been enormously entertaining during his 53 weeks in charge and, from the little information provided on the 20-or-so mostly-anonymous venture capitalists who now own Rangers, he has passed the club onto what looks like an equally rewarding group of people.

If nothing else, he parted ensuring what is left of the club didn’t get into the hands of the Rangers support, accompanied by a pushy investor with deep pockets.

Cheers for that, Craig.  Once this blows over, we need to get you in for the Paradise Windfall.

I’m still freezing.  Hug a radiator CSC.

You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.

The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.