Alex Rae has blamed Charles Green for the crisis at Sevco.
Rumours are rife about the exact state of the problems at Ibrox with some claims that the money may run out before the February payroll is completed.
Eighteen months ago Green could do no wrong in the eyes of the fans as he told them how he had rescued the club, denying the reality of liquidation, while ‘going to war’ with the SFA, SPL and all the other perceived ‘Rangers haters’.
Stories of commercial link-ups with the Dallas Cowboys and a worldwide fan-base of 500,000,000 were lapped up without question by supporters as were the regular digs at Celtic which included a famous claim that Sevco would have a healthier 2013 balance sheet that the Scottish champions.
Green recruited Walter Smith as a non-executive director before the December 2012 share issue and was greeted as a hero staging roadshows worldwide to exiled supporters.
Topping up all of those claims the big ‘anded Yorkshireman said that his initial short term plan for the club had been abandoned because he was going to stay until the Champions League anthem was playing over Ibrox.
In April 2013 Green walked away from the new love of his life.
Former Dundee manager John Brown went public about his concerns over Green in his famous ‘wherez the deeds’ rallying cry but with no-one else to back him up Brown failed to deliver with his promises.
As the spectre of administration hovers over Ibrox, Rae, who was paid £569,000 by EBT during his two year stint at Ibrox from 2004 to 2006, has turned his anger on Green.
“I have been alarmed for a while,” Rae claimed as he promoted tomorrow night’s Scottish Cup clash between Sevco and Dunfermline. “Even going back to the early days of Charles Green. It never really sat right with me.
“You could see it coming. There were good soundbites but there was never any direction. There was no plan in place and, unfortunately, he has walked away with a fortune. The legacy has been a shambles. There is no legacy. The only thing he did was put his money in at the time.
“That said, there were allegations at the time that he was in bed with Craig Whyte initially and he saw the opportunity and turned him over as well. Unfortunately, he and others have walked away with a fortune.
“It was a mad ego trip for him. He was great for the media, but there was never any direction within the club. You heard stories about money going out left, right and centre and pay-offs for guys who were there five minutes.
“Just a couple of weeks ago, I saw that another guy from Zeus Capital pocketed more than £500,000 when he sold his shares. I don’t even know how many more of these guys are out there. That is the worrying thing.
“One thing about football fans is they want to believe in the people in charge. They want to believe they are going to take the club forward. Unfortunately, this guy has duped everyone.”
Typically, and without any logic, Rae believes that the current man ruling the roost at Ibrox is the right man for the job.
Other than a brief spell working for Manchester City, who dismissed him, little is known of Graham Wallace who is the latest great white hope. Last week Wallace told various supporter groups that he had a five year plan without explaining any detail of the plan.
It doesn’t take a private detective to link Wallace back through his appointment by the Easdale brothers to Green, Duff & Phelps, Craig Whyte and Dave Murray.
Despite the experience of the Green reign at Ibrox, Rae believes that Wallace is just the man needed to turn around the finances of the ailing Third Division champions.
“This fellow Wallace has come in and he seems to have taken a step back,”Rae added. “Previous CEOs have made wild statements that they have never backed up.
“The fact that this guy is silent and taking stock of the operation bodes well for us going forward, from the point of view that he seems to have a plan.”
The cash crisis at Sevco is likely to be accelerated tomorrow night with less than 10,000 tickets sold for the Scottish Cup tie at home to Dunfermline.
In 2012 just 17,000 fans watched Rangers lose to Dundee United in the Scottish Cup, ten days later Whyte appointed Duff & Phelps as administrators with millions owed to HMRC and local businesses.
Three cheers for the green man
Alex Rae now he didn’t take any money out the old club by way of EBT did he.
It’s getting to the stage I don’t know who to thank for this shambles.
Happy days are here again!!! And if they insist on being the same club it’s an automotic 25 point deduction for two administration events, or 15 points if their a new club.So will we have the klan on the phone ins claiming their a new club so they dont get a 25 point deduction.Let the fun begin.
More bogus claims,and it is everyone else who caused this shambles.
The only person who thought that the snake oil salesman was a wrong un(apart from every sane football fan) was Brown and they ridiculed him for his ramblings regarding the deeds speech, ex players could not get enough (Ha Ha) of ole big hands telling them when he heard the Champions league music he would then leave and everything in the garden would be rosey and the Rangers would rule the world, and again they lapped it up without question, so Rae now say’s it did not sit right that bags of money flying out the door well what about the EBT’S him and others took, looking forward to the end of the month for the next insallment of the soap opera that is Sevco, and it will be almost 20years to the day(March 4th 1994 when St Fergus the frugal) came out of Celtic Park and told the world the rebles have won, no administration and no liquidation, 1888-2014 still the same still fighting. KTF
Alex Rae? I guess it doesn’t take much to be an ibrox legend theses days.
I’m a bit confused as well. Who’s their current saviour? Or was it Bomber all the time?
What goes around comes around, or in sevco’s case it now looks like it’s twice around the block, and ready to start into their 3rd lap of administration.
Wonder who does have the deeds of the bigotdome ;-/
Keep the Faith
Without Sir David Murray there would have been no Craig Whyte and no Charles Green. The best exponent of pass the parcel ever.
Joe,
I like your line, “typically,without any logic”.With.regards to rae.
This sums up their whole business strategy,illogical.
From Minty ( tenner/ fiver jibe ) and their
jealousy of our ‘ Big Cup ‘ made them blow fortunes.
The inevitable bankruptcy and liquidation
soon follow follow followed.
Their fans became Zombies, with no purpose in LIFE.
Hedge funds moved in to make a KILLING.
But,our good old MSM,told them what they wanted to hear.When in fact they were in denial.
This new era of ‘ moonbeams ‘ is what the
living dead will flock to the ‘ Big Hoose ‘
for.Even though this senario was UNREAL.
A stage production,for us Tims,would.be the biggest-seller,they would ever get !!
How about,
KNIGHT ( Minty ) OF THE LONG KNIVES
Paranoidandriod, just thinking that myself, 2 years at greysculls and your a leg end sorry Legend, must be some ROLL OF HONOUR there haha
If,sorry when the next Manure hits the fan,My wifes cousin will not able to,take anymore,the demise of them is really hitting him hard,I have tried to comfort him,if you know what I mean.
H H
“Pay offs for guys who were there for 5 minutes” – be fair Alex, that probably counts as a long service award at AyeBrokes these days. Wonder whose turn it it to be CEO next week? No wonder you are described as a Rangers legend Alex. Two whole years of loyal service (though sadly not to football) that was in no way just a means of topping up your pension at the end of an otherwise mediocre career. Strange how your powers of perception caused you to smell a rat when Green took over, but being paid via offshore tax-free “loans” didn’t make you in any way suspicious of Sir Minty of Moonbeams.
All season I’ve been saying to anyone who’d listen, rangers have compiled the team they have to ensure a minimum point lead of 26, therefor assuring promotion if administration is entered before season end
If administration is entered after season end it’d make promotion next year more difficult
If that fuckwit Rae wanted to help the new club, why doesn’t he pay his EBT back?
Fanny!
Alex Rae played 34 times for Real Rangers and scored 1 goal.
I guess that makes him a “Legned” over there…wtf?
big cup game for them 2moro I wonder what hotel there staying at tonight??? I see someone has just sold 50,000 shares today greggs must have promotion on….
Don’t you just love it, really, you couldn’t make this story up. Keep on digging the dirt buoys and girls I like it.
There is so much that can be, and has been, commented on in this embarrassing farce that just trundles on and on like an amusing squeaky wheelbarrow. So I would like to make a serious point.
Since all those truly loyal servants of the old Rangers have so much love for the club and it’s fans and it’s “traditions”, why don’t they all pay back in full the EBT’s they received?
After all, they managed to get the courts to accept that they were “loans” didn’t they? So this would be a perfect time for them to show how much the old Rangers meant to them….which they all (especially Mark Hately the talking cotton bud with teeth) proclaimed week in week out in the press, ranting about what the club meant to them, to Scotland, to the world, to the wee green men on Mars. So now in it’s (second) hour of need, why don’t they pay back the “loans”?
As a side note, if the law after a full investigation by lawyers, judges and assorted financial experts can come to the conclusion that these well hidden, undisclosed payments were “loans”, then surely anyone who is caught claiming unemployment benefit while working can say “I’ve no received any wages, just a “loan” each week which I can pay back whenever.”
Because for me there’s no difference except that crimes committed by the already wealthy are usually protected by the “law” instead of vigorously prosecuted by it.
As pope John Paul once said, ” f-ck them”. Rest in
Misery. Ta ta. HH
The huns thought they were all right by NOT paying their taxes.Paying EBT’s and wages…