Green’s court date casts ominous shadow over Ibrox

Sevco could be placed in administration as early as next Friday, October 16.

At the Court of Session in Edinburgh, in front of Lord Tyre, founding father Charles Green will have his case heard for the troubled club to honour his contract with respect to his legal fees.

Mr Green is one of seven men to go on trial at the High Court- charged with fraud over the asset transfer from Rangers (IL) to Sevco Scotland/5088.

The outcome of the trial could have massive consequences for the club and is expected to be lengthy.

Mr Green’s legal fees were covered in the 2012 IPO which brought in £22m to fuel the Third Division and League One title triumphs.

While there has been a lot of speculation relating to onerous contracts the clause for legal support is on record but is being contested by the current club playing out of Ibrox. Should Mr Green and his co-accused be found guilty the whole status of the club falls apart after listed those assets in the IPO.

True Blue Malcolm Murray was the chairman at the time of the IPO and remained in that post at the time of Mr Green’s departure.

Last month BBC Scotland broke the news that the big ‘anded businessman from Yorkshire was seeking his legal costs to be covered by the club. Despite an almost instant denial from the club via the Daily Record the following day the club issued a statement confirming the claim from Mr Green.

A statement from Dave King statement read: “Charles Green approached the club prior to his arrest and demanded that we pay his legal costs in respect of his co-operation with Police Scotland in its criminal investigation into his time as an officer of the club.

“I advised him that we would not do so. He was subsequently arrested and has now approached the court to compel the club to pay the legal costs of his defence to the criminal charges. This application will be strongly resisted.”

The logic of challenging Mr Green’s claim seems hard to fathom, getting an aquittal would provide the company for a basis for moving forward.

Regardless of the outcome of Mr Green’s claim the finances of the club look precarious with a January war-chest for Mark Warburton’s Champions League plan looks unlikely.

With running costs of over £30m a year funded by just 33,000 season ticket sales, many at concession rates and being paid in instalments, being forced to ring fence Mr Green’s legal costs could be an invoice too far.

On the pitch Warbo is hoping to complete the signing of John Eustace in the next 48 hours.