Has Charles Green scored an own goal over Rangers funding?
Green was granted preferred bidder status by Duff and Phelps on Sunday and is believed to be offering around £9m for a CVA with HMRC alone believed to be owed around £15m.
The would-be Rangers chief has admitted that getting approval for a CVA is outwith his hands with plans in place to go down the newco route dependent on approval from the SPL and SFA.
McDonald worked alongside Green at Brammell Lane and is described by the Daily Express as one of his backers although Green is reluctant to reveal the identity of any of his business partners.
Speaking to the Express McDonald said: “It is pointless to get involved if we weren’t going to invest in the playing side right away.
“We see that as a major priority, although, obviously, that is dependent on the Scottish Football Association’s transfer embargo. We know that Ally McCoist needs to strengthen his team and also to keep some of the players he already has at the club.
“We have got all our funding together for every aspect of the take over and now it is just a case of sorting it out. Charles has had a good conversation with Ally McCoist and we want him to carry on managing the team.
“Charles has brought significant funds to the table because we know we need hundreds of millions to be successful at this level. There are a lot of people who are in this game for the publicity and think they can run a football club on a shoestring but it just isn’t possible, I know that.
“We will not be throwing silly money at things like Manchester City but we know we have to have enough money to carry our plans out.
“It is a massive club and it should be at the forefront of British and European football. Why can’t that be done? I know it can’t be achieved overnight but we have a long-term plan to achieve that goal. We have to sort the club out and to get them back on a stable and sound financial footing. Charles is definitely in it for the long haul.”
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