Green: Gers stars under contract

Charles Green claims Rangers players will be in breach of their contracts if they refuse to transfer to his newco club.

Green's consortium will default to a newco route to complete their purchase of Rangers after Her Majesty's Revenue and Customs revealed plans to reject a Company Voluntary Arrangement (CVA) proposal.

Green, the former Sheffield United chief executive, believes all current employees will be required to move to the new company under Transfer of Undertakings (Protection of Employment) Regulations (TUPE).

However, PFA Scotland chief executive Fraser Wishart warned in April that Rangers players could walk away from Ibrox for free if a new company is formed to take over the club's assets, having taken legal advice on the matter.

Green told Rangers official website: "TUPE is very clear and all employees will be transferred under the rules and regulations.

"Of course, if the players choose not to transfer they will then be in breach of contract but we want all of the staff and players to get behind what we are trying to do.

"I always think if you are going to get news, good or bad, it is better if you get it earlier rather than later.

"If it is good news, you can party for longer and if it's bad it gives you time to recover. That's what we've got here."

Green promised to finally name his investors following the creditors meeting on Thursday, with his consortium set to gain control of Rangers for £5.5million, rather than a sum of £8.5million had the CVA been approved.

He said: "One of the frustrations I have is we've spent a week explaining to people who believed we were using season ticket money to buy the club that that wasn't the case.

"There is a huge amount of negative energy being spent and what we have to do now is say that these are the cards we've got, not what we'd like or where we wanted to be.

"We need to get behind it and move forward and after the CVA proposal is formally rejected on Thursday, as you'd expect, I'll name my investors.

"We'll reveal who is on the board, what the names of the directors are and all of the things the fans, the SFA and the SPL are looking to see.

"The consortium's capabilities are not affected at all.

"There's obviously a reduction of £3million in price but we'd more than happily have paid the higher price.

"The support, commitment, willingness and ambition of the investors are all still there to take this club forward.

"The history of Rangers is not going to disappear just because HMRC decided to do an about-turn on what they have been suggesting over the last few weeks.

"This club's history and traditions are based around its fans, their support and their loyalty and we're going to ensure the new structure preserves that."