Ex-Rangers chief Charles Green: I was worth double what Ibrox club paid me

THE outspoken former chief executive pocketed a total of £933,000 for his 10 months at Rangers - but now claims he was worth £2million for the work he did.

Tim Anderson
Charles Green

CHARLES Green insists he was worth double the money Rangers paid him.

The outspoken Yorkshireman pocketed £933,000 – including severance money and bonus – for his 10 months at Ibrox.

He also cashed in on the sale of his shares to director Sandy Easdale and Laxey Partners.

But Green insists he was worth much more after helping to relaunch the company that owned the club after it went bust in the summer of 2012.

He said: “When I joined Rangers I was the only employee, the only director, the only investor.

“I was on the same salary as Ally McCoist but Malcolm Murray said that was too much and halved it. For the work I did I should have had double.

“My salary was £360,000 a year. I didn’t take 12 months’ notice.

“I agreed with (former director) Ian Hart that I would take less money because I didn’t want to penalise the club.

“The bonus was a bonus which was contractually in my contract and I was entitled to it.”

Rangers chief Charles Green meets Rangers fans at Ibrox shortly after taking over
 

Green, 60, was forced to resign in April 2013 when allegations of links with former owner Craig Whyte emerged, although he denied any wrongdoing.

He returned to Ibrox for an 18-day stint as a paid consultant last summer but was again forced out after a bust-up with McCoist.

But he said: “I didn’t want the severance pay – I would have liked to have stayed at Rangers but I was driven out. I would have happily carried on.”

In January, McCoist also signed off on a 50 per cent cut to his £825,000-a-year salary.

Meanwhile, controversial loans agreed by Rangers with two shareholders could be paid back using season ticket money.

An agreement between Sandy Easdale, Laxey Partners, Rangers International Football Club plc and The Rangers Football Club Limited appears to show the loan will be repaid either from “the sale of season ticket monies for the 2014-15 season” or “a placing or rights issue or other form of debt or equity fundraising of the company or any member of the Rangers Group, whichever is first to occur”.

But last night a spokesman appeared to contradict the agreement when he said: “The loans, if drawn, will be repaid from the operating cash flow of the business at the relevant time.

“Operating cash flow comprises many sources including commercial partnership income, retail dividends and match ticket income.”

The Laxey loan is for £1m and is repayable with interest of £150,000. The loan from Easdale is for £500,000. Both are secured against Edmiston House and the Albion car park.

It is understood the joint loan facility has not yet been drawn upon by the club. If used the amounts borrowed must be repaid by September 1, 2015, according to the agreement.

The Laxey loan has sparked controversy due to its interest rate.

Shareholder George Letham has offered the same amount with a repayment of £75,000, which he insists he would reinvest in the club.

Rangers, through their old company, took out loans against season-ticket money.

Ticketus bought the rights to around 100,000 season tickets until 2015 when Whyte was in charge.

 

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