Rangers crisis: Possibility of selling Ibrox naming rights 'being explored'

Ibrox: Mr Green is 'exploring' the possibility of selling naming rights.SNS Group

Prospective Rangers owner Charles Green has confirmed his consortium is exploring selling the naming rights to Ibrox stadium.

Ahead of the crucial company voluntary arrangement (CVA) vote on Thursday, the man leading the Sevco group confirmed he is looking at selling off the Ibrox name to raise cash for the crisis-hit club.

Mr Green’s group has put forward an £8.5m loan to pay administrators and creditors in the CVA. He has also claimed part of that money is currently in the hands of administrators Duff and Phelps.

In an interview with STV News last week, Mr Green also claimed that the Sevco consortium was working towards raising a total of £30m for Rangers, but he declined to reveal who the financial backers of the group are until after the CVA vote on Thursday.

A spokesman for Mr Green confirmed selling the naming rights to the Govan stadium, which was opened in 1899, was "a possibility being explored".

The selling of the naming rights to the home of the Glasgow club was previously raised in a PR stunt by an online dating site in March, a month after Rangers were plunged into administration owing £14m in unpaid VAT and PAYE since Craig Whyte’s takeover in May 2011.

Last year Newcastle United owner Mike Ashley renamed St James’ Park the Sports Direct Arena after his company. The move was designed to promote the sponsorship opportunity as the owner felt the traditional name of the ground was not "commercially attractive".

This was a controversial move among many fans of the Geordie club, while Manchester City currently pays the local council around £2m a year for use and naming rights to their home ground Eastlands, which was built for the 2002 Commonwealth Games and was renamed the Etihad Stadium last year.

Mr Green has described Ibrox as "my church" and said that he is actively looking for more investors in his consortium. He also rejected concerns expressed by Rangers director Dave King that the group is struggling to raise funds for the takeover and may use season ticket money to pay for the takeover of the club.

Former Sheffield United chief executive Mr Green said that the money from season ticket renewals, which were posted out to fans on Friday, would be held in a "secure" banking account and would not be made available until after the club had exited administration. He described Mr King's claims as "disruptive" to the attempted takeover of the club.

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