Mike McDonald has walked out on Charlie Green’s Rangers consortium.
Last week the former Sheffield Wednesday chairman was promising to pump millions into a transfer warchest for Ally McCoist but has now pulled the plug on that idea.
The news is a big blow to the credibility of Green’s mysterious consortium with no other Scottish or British backers for the current Rangers saviour.
McDonald told the Daily Record: “My main interest was investing in new players but last Wednesday we got the news the embargo is standing so obviously that has thrown a bit of a spanner in the works from my perspective.
“That’s not to say when it’s lifted in a year’s time or whatever, I’ll not look at it again. I probably will but right now Charles says he doesn’t need me.
“It’s a bit sad really because it would have been great to be involved in getting a side out there and challenging for Europe where the big play is. Obviously that’s going to be a bit of a slog now but I’m sure Charles will make a success of it.”
McDonald revealed that his plan with Green would have involved shared ownership of players providing a cut in any transfer profits.
He added: “I was going to be more involved on the playing side than anything else. It could have worked in different ways, depending on how much finance there was.
“If the club wanted money for players we would have been there. These part-ownership schemes happen a lot now around the world. People invest in potential.
“Mainly, I’ve been involved in doing it with lower clubs, not the size of Rangers. But when you have small clubs that are struggling for money, you help them look at young players coming through – 17- or 18-year-olds.
“You put the money in and when those kids go to higher clubs there is some profit. But at a club the size of Rangers I’m not sure how it would work so it’s probably a good thing (that the plans have changed).
“The way I understand it, Charles has the funding in place to run the club without having to look for loans so they should be okay.”
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Now there’s a surprise an investor walking away already….something I expect we will see even more of soon. Big talk and no action – this club is dead and the sooner they admit it the better for all concerned.
Doncaster should keep his opinions to himself, clearly doesn’t know what he is talking about and has no power to decide anything. He is merely a spokesman for the clubs who do have the real power. If he is not careful he will be getting his P45 very soon as well, colours nailed firmly to the mast he will have to go down with the sinking (stinking) ship.
I thought these part-ownership of player contracts were frowned upon by UEFA? Has there not been a series of court cases regarding players who are indentured servants of management companies and agents (Tevez springs to mind). I thought West Ham got sued for this sort of thing.
Who the hell is getting involved at Rangers? Should the SFA/SPL not be investigating them rather than making inaccurate statements about Newco/Cva arrangements.
Do your job Doncaster. You are paid by the SPL not Rangers (if you were employed by them you would not be getting paid at all).
Good point John. Doncaster would be better suited do the job he is employed to do…apply the rules. I think the funny handshake brigade have formed this consortium, which explains why it is so mysterious.I take it when McDonald checked the books, he could’nt get out the door of the bigotdome quick enough.
More revelations to come out after the TV programme on the crisis at the big house to be aired. Sounding more like Sesime Street every day