After 11 months of innuendo and unanswered questions the Sun today publish confirmation that Charles Green was a frontman for Craig Whyte. The news will be a bombshell to many but few in the Celtic online community will be surprised.
The Sun today report that Craig Whyte and partner, Aiden Earley, are majority shareholders in Sevco 5088 Ltd, the company which bought Ibrox, Murray Park and other assets from Rangers’ administrators’ Duff and Phelps.
They also claim Charles Green subsequently transferred Sevco 5088’s assets into Sevco Scotland Ltd, which Whyte said was done without his permission. Green was given considerable opportunity to respond to the claims but despite pages of comment does not deny the central claim that Whyte and Earley were majority shareholders in the company which purchased assets from Duff and Phelps. The rest of the story amounts to little more than gratuitous detail.
Where does this leave things?
Whyte’s QC has started legal action, seeking control of Ibrox and other assets.
Duff and Phelps (presumably unknowingly) discretely sold Rangers assets to the man who appointed them and who is currently subject to an investigation into the collapse of the club. Rangers’ liquidators, BDO, can cancel the sale of assets and claim them for creditors if they believe it was not conducted in an appropriate manner – and this is anything but appropriate.
When Sevco 5088 Ltd was negotiating with the SFA Green assured the SFA that Whyte was not part of his consortium. This was a condition of the Newco being granted associate membership. The SFA are now duty bound to investigate (although with president Campbell Ogilvie in place make no assumptions here).
What has any of this to do with St Mirren, you may ask?
St Mirren chairman, Stewart Gilmour, appears to have made a pact with Charles Green, who I hear has given Green his assurance that he will vote against league reconstruction plans, which the SPL are due to vote on 15 April.
Questions like who owns Ibrox, whether the Newco is a legitimate associate membership of the SFA, whether BDO will declare the sale to Sevco 5088 void, in the event this circus makes it to next season, whether anyone will buy tickets to the shambles, all remain unanswered….
…but Stewart Gilmour is making plans with Charles Green. St Mirren fans should be outraged. Mr Gilmour should be careful who he does deals with.[calameo code=0003901714557cf2d2048 lang=en page=134 hidelinks=1 width=100% height=500]
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AweNaw
Where’ve you been?
saltires en sevilla 18:35:
…Whyte will go to court claiming he owns the assets; Ipox, Murray Park, the car park etc -no one knows when court action will take place…
Will he though, he has threatened to take others to Court but not followed through e.g. BBC
At the moment it is Whyte’s word against Chuck, yes there have been references to letters, texts and discussion but until they are presented in front of a Court, Chuck continues.
Keep the Faith!
Hail Hail!
If you want a title for the Green & Whyte filum, how about “The men who would be King’s”
Greenpinata @ 17:32,
Indeed the Ticketus getting duped thing is a puzzle…
“…a company like Ticketus could be duped into providing working capital of 24 million in exchange for future ticket sales of a dying company…”
Usually people with that much money that go through professional investment vehciles go into these investments with their eyes open and can expect to be better advised.
The standard Ticketus model would certainly be a bit higher risk but was a sound investment considering the returns.
The thing is that the Rangers deal broke that model pushed out the risks to the level of gambling, the Ticketus Vehcile is meant for the knowlegable investor so once again why?
I’m going to speculate; I’m going to say, what if these investors were’nae daft, what if they believed they knew what they were doing, what if it was a tailormade model for a specific client?
NOW
Say you knew RFC was changing hands, we all knew it was up for sale, you knew it was in trouble, you wanted to invest but did not want to put good money after bad.
How about an investment that secures you, not only on the season ticket sales but also on the case tht the whole thing goes Kaput you are secured on Ibrox and Murray Park.
You own the main assets and can build the a new Club from the Rangers infrastructure, if the worst come to the worst.
The fact that the investor(s) in that Ticketus deal were Rangers supporters may explain why two minutes after taking over and doing he deal CW had defaulted and the Ticketus deal was restructured and allowed to run for another year may point to benevolent if not deluded investors.
A parcel-o-chancers still might make it diffcult to implement the best laid plans-o-mice and men.
See BBC Scotland are covering it, albeit stating Mr Green’s case.
Of course to most right thinking people it is hardly a defence.
The thing that I find most significant in this latest chapter is the Whyte Knight’s candour.
To put all his cards on the table incriminating all including himself, the mention *Aiden Earley’s involvement being a case in point smacks of desperation.
I sense we are close to an end game (though nuffin wll happen fast.)
*I’m sure a substantial payment was inexplicably made by CW’s Rangers to The Earley’s non-league football team.
Three Celtic supporters have avoided been banned from watching their club after a judge ruled it would be a “disproportionate” move.
Now the 3 guys ran at a guy in Perth and try to hit him with a belt.
This is were this SNP law is all wrong. How come you get a banning order in Glasgow for an unproven charge of singing a rebel song?
Evening all
As I have said before I am an economic and legal illiterate . Should I phone Hugh Keevins for some advice on understanding the latest stories ?
Baffled of Maryhill
Jimbo
Desperate rear-guard action from the MSM now in operation.
Chuckles makes an appearance
“I am happy, as is Imran Ahmad, to
become the subject of any investigations
and we are more than willing to answer
any and all questions about our conduct
while communicating with Mr Whyte in
attempts to take ownership of his shares
in the Club.
“So, of course there were discussions and
agreements with regard to his shares and
debenture release. There has never been
any attempt to deny or disguise that and I
told supporters that when I addressed
them during Q and A sessions.
“However, it must be stressed that no
matter what Mr Whyte believes there was
never any possibility of him being
involved with us in the ownership of this
Club. And there was most certainly never
any intention to pay him anything.
“But let’s deal with Mr Whyte’s delusional
view of what actually happened by
addressing one fantasy at a time:
“He claims I was his front man. He could
not be more wrong. With 8%, I am the
major shareholder in Rangers FC and I
have no tie in of any kind with Mr Whyte.
He was never going to become an
associate and never will. He has no right
to any claim on Rangers FC, it’s shares or
assets.
“It is alleged there is a letter which agrees
Mr Whyte and a business partner of his,
Aidan Earley, would have a majority
shareholding in Sevco 5088. If there is it
wasn’t signed or endorsed by me.
Perhaps Mr Whyte would be good enough
to send me a copy.
“Yes, Mr Whyte was told what he wanted
to hear but there was never any likelihood
of him becoming involved again. And
remember, this was even before any of us
were aware that the SFA had deemed him
an unfit person to return to Scottish
football.
“In a discussion with Mr Whyte, who
taped some conversations, I am alleged
to have said: ‘You are Sevco, that’s what
we are saying.
“This is correct but at that point I had
signed a resignation letter and a stock
transfer form because it was decided that
a Scottish company should buy a
Scottish institution. Sevco 5088 wasn’t
required.
“I was not going to allow this man
anywhere near this Club again. That was
my view from the beginning and it was
also Imran Ahmad’s view.
“Imran was saying what he had to say to
keep Mr Whyte onside because we
believed Rangers could be rescued from a
CVA and so it was vital to get his shares.
All of the parties who tried to buy the Club
before us also had the same problem and
they’d have made promises in order to
get those shares.
“Mr Whyte may have allowed himself to
believe he could be part of a new regime
but we always knew there could be no
way back for him. How could there be
after all that he’d done?
“He said he wanted to invest and Imran
said: ‘Okay, fine. We need to come up with
something like £6m each.’
“But there was never any possibility of
him coming up with that kind of money.
Imran knew that. I knew that but we went
about the business of raising the cash.
“He was supposed to pay £25,000 for
legal fees to the lawyers who would deal
with the transfer of shares but his cheque
bounced. Imran felt he had to keep him
going down the road of giving over his
shares so he was told if he had the
money he could still deposit it.
“But the money wasn’t wanted in any
accounts dealing with this business so he
was given another one. But of course the
£6m didn’t materialise and neither did
£1m or even half of that.
“However, just more than £137,000 was
deposited later and although way short of
what he said he had, we were stunned
and have tried to give it back to him. But
no matter how hard we try to do that he
won’t accept receipt of it.
“This money has never been touched. It
has never been used and it is not
required. We don’t want it, don’t need it
and Mr Whyte is perfectly well aware of
that.
“So, let’s look at what has happened. Mr
Whyte wanted to be part of our group and
wanted to invest £6m, which of course we
would never have taken but instead he
went from that to demanding £1m in
perpetuity from us plus six seats in the
Directors’ Box and six in the Members’
area.
“This was demanded in return from him
giving us his shares. He was told in no
uncertain terms that this was ludicrous
and since then he has continued to try to
derail our work at Ibrox which includes
massive redevelopment plans.
“Rangers FC will become bigger than ever
while Mr Whyte, hopefully will diminish.
After all, this is someone, who just prior
to the proposed CVA circular being
posted, greenmailed the consortium for
his £1m in perpetuity before agreeing to
sign a stock transfer form.
“He has not invested a penny in Rangers
FC.
“Also, he has made spurious claims
before and these were shown to the
company lawyers. They were rejected
completely.
“We cannot understand why Mr Whyte
keeps going to the media rather than the
court. He has threatened to take Duff &
Phelps to court, the SFA to court and now
Charles Green and Imran Ahmad. We
suggest he gets on with it.
“If he wants to go to court we would be
delighted to see him there. It is a shame
Mr Whyte keeps trying to destabilise the
Club he very nearly destroyed.
“It is also a great pity the media outlets
continue to give him platforms.’
Green throwing down gauntlet to Whyte on SSN now.
Of course if BDO rule the sale null and void Whyte will have the club back without having had to take legal action. Not only that but many of the football debts are now cleared potentially meaning more for him from the carve up. Well played.
James Forrest
Terrific work!
OK, tink I’m understanding a bit more !!
However, why did Whyte wait till after the share issue to stake a claim on the assets ? Why not go public as soon it became apparent Greengo shafted him ?
I’m guessing Whyte’s claim to the assets in no way entitles him to a portion of Sevco Scotland’s share issue as he’s not a shareholder in that company.
Why not torpedo Green months ago ? Why let Green raise Millions on the strength of assets he owned ??
JF First Class.
It looks like I will have to buy more rockets!
So Sally knows nothing he was never pre-informed about Chuckles revelation in todays Sun
For a guy who likes to know who are these people it does not add up
My hunch is he knows it all and they are keeping Ally sweet as pie because they may well need to him to do a not walking away part deux
Green…
‘Rangers an its fans deserve better than that little google eye’
They will lap that one up.
I reckon Whyte and Green used the cash generated from the sale of the sold off revenue streams , Arsenal shares, Jelavic money to generate the cash needed to convince Duff & Phelps who were instructed via Moonbeams to remove Craig Whyte and sell to Green so that they could pursue the newco route with Ally having failed on the pitch. All in on it together. At every turn Moonbeams was getting what he wanted without having any money to do it.
HH
ElDiegoBhoy 18:47:
I read you recently had a nice break away.
Keep the Faith!
Hail Hail!
Lennybhoy…Supporting Neil Lennon and CFC until I die
18:47 on
5 April, 2013
—-
summary of SSB comments suggests he will follow up and interesting they have the tapes of conversations and comfortable to air them
Tho’ I agree with your view -Whyte says mair than his prayers, and seems to be trying to wrestle some dosh
good fun for us
HH
Mcmoist
Cowardly slide tackle on theo snelders jaw at pittodrie
Out doing the dirty while his child was in an incubator
And the man who put the shame into the shame game
Girfuy you dirty horrible excuse for a man
He has admitted in that Statement that he has accepted £137,000 from Whyte.
Is it possible that both Mark Daly and Alex Thomson were both warned off the story, pending legal investigation, which may be hampered by further revelations.
As for Ally Schultz, he was central to the whole plan succeeding.
Prior to his glowing endorsement of Green, which involved a 180 degree turn, there were virtually no SBs being bought.
His performance on SSN was of a man who had run out of lies.
Despicable creature.
jimbo67
18:49 on 5 April, 2013
LOL
We tried to give him his money back. lol!
Sir Paul
Do you recall.. Baith you and Ah..(when first Green and Co surfaced as a Bona Fide
Buyer of the Humptys.).. haf agreed, that the Dug in the Manger, who must First be Mollified.
Wus.. Whyte..
As..
Well.. He wiz the Official Owner of the Benighted Club.
Howevahhhhh..
You and Ah wur Baith..Astounded ,
When..
Whyte cawed the feet fae our Confident Prediction that Whyte must first be convinced to Sell ,his Prize Asset.. tae the New Would Be Buyers,
By,signalling that HE wid NOT Contest.. the Sale of His Prize Asset.. (The Humpty Dumptys..) and would allow Green and Co to Buy his Asset.. for which he would NOT BE COMPENSATED.
Yep.. this very Surprising Relinquishment of his Prize Asset, The Legal Owner of the Take Over Target.. sure sounded Fishy.. tae Us…
Howevahhhhhhh..
Noo, in light of the information which has emerged that..
There is mair than a Slight Possibility
Whyte, and Green and Company, had together, bin Complicit in Mair that a Spot of Ootright Chicanery..at the Cross Roads..
It appears that Baith you and Ah ..were correct in oor assumption that ..
Something was not quite right , concerning ,,Green and Co’s Takeover.
Frum the Git Go.
It wiz Fishy.
The Saga Continues..
Kojo
Still, Laughin’
Green
“Yes, Mr Whyte was told what he wanted to hear but there was never any likelihood of him becoming involved again. “
The Boy Jinky
Surprised to see you sitting on the fence!!!
corkcelt
18:57 on 5 April, 2013
Correct, and it wasn’t for the sevco charity fund
Good evening friends
Been a bit busy these last few days and not been on much (apart from fulfilling my contractual early morning obligations) but it certainly sounds as if we are having a Big Happy Friday here! Which is nice!
Might even have a rare Friday night beer…
Lennybhoy
Cheers mate. A lovely wee place outside Oban called Barcaldine.
Ardtorna B&B. 5 Star and I highly recommend it.
Starry
Its grand national weekend..no fence sitting allowed
Btw… the woman on the itv news at 6:39 asked ” what are the chances of a woman riding a grand national winner”
Im pretty sure tony mccoys wife – chanelle – might have achieved that two years ago ;)))
Surely Malcolm Murray had a part to play in all of this or did he find out and that is why Green has tried to get shot of him in recent weeks?
Green has admitted has even boasted about telling lies to Whyte, therefore the entire world now knows that Charles Green is a liar. Everything he says from now on is therefore suspect.
Green has also admitted he has £137,000 of Whytes money. Says he doesn’t want it and wants to give it back. The fact remains it was paid over to him by Whyte he accepted it and he still has it. Previous to this he claimed he had nothing to do with Whyte apart from giving him a pound.
Liar Liar your pants is on fire.
Corky
Shirley your not saying mr green aint whiter than whyte ;)
Green saying he is the major shareholder. Surely that is a lie right away? I thought he represented middle east investors.
Oh what a wicked web we weave…
The Boy Jinky
Naw naw Challs bought the Grand National’s history fur 30 bob and nobody apart fae guid huns have ever ever won it, a new wurrrrald rekird..
An dun
My take on it is.
Green told craigy to keep his head down intil the share issue is out of the way and the cash is on the bank.
I’ve never trusted anyone who uses the word cash in the manner green does.
The share issue was a major disappointment as the fans did not buy into in the way green expected.
So green told craigy yer getting bugger all.
S**t hits the fan.
Jabba’s Archie Andrews on SSB now.
Hun on clyde a perfect example of why they are up to their shuck in it
why would CW sell his assets in the old rangers for a paltry £2 when he had already done the hard work and ditched the debt. It doesn’t make sense
CGs whole rebuttal is based on this assumption but at that point in time CW had ownership of an “effectively” debt free rangers . surely they had at least one single asset worth more than £2 that CW could have sold instead. Maybe an old bike or something?
lies and damned lies