Monday, July 09, 2012

King Cash at Ibrox

The Charles Green consortium have told Rangers supporters that it would take at least £50 million for them to sell the newco club – a figure which would give them an astonishing 900 per cent profit on their initial £5.5m investment.

 A representative from Rangers Unite asked: “What would you see as an exit price?”
Director Imran Ahmad replied: “On a bad day the club is worth £50m.”

That statement will call into question the decision by controversial joint administrators Paul Clark and David Whitehouse, of Duff & Phelps, to sell the club and its assets to Green’s group for a cut-price £5.5m. Ahmed’s estimation of the true worth of the club is likely to enrage creditors and fans alike.

 Duff & Phelps have been paid an estimated £200,000 per week during their time at Ibrox.

Stop supporting capitalism!

No comments:

Summer School

Summer School 2017

Summer School 2017  21st – 23rd July Fircroft College, Birmingham   These days, con...