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Rangers turn to UEFA to help cut debts

Charles Green will travel to Zurich to enter talks with UEFA © PA Photos

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Rangers chief executive Charles Green has revealed he is talks with UEFA in order to help settle the club's debts.

The newco will start the season in the Scottish Third Division following a vote by the Scottish Football League last week.

The Ibrox club may be forced to accept a transfer embargo in order to secure membership with the Scottish Football Association. But first Green must negotiate a settlement to repay £3 million of debts owed to European clubs.

Green will head to Athens to arrange a friendly against Olympiakos at Ibrox before travelling to Zurich for talks with UEFA.

"Part of the conditions for the newco to meet to satisfy SFA membership is that there are certain old club debts to European clubs," Green told Sky Sports News. "It is not inconsiderable, it is about £3 million that has been accumulated as part of the historical baggage.

"These are oldco debts newco has got to face up to and this is the frustration we've had as a group where at times we are newco so we have to sit in this particular box. However when it is convenient we are still oldco so we have to suffer the sins of the fathers."

While Green admits the club must face up to their responsibilities, he remains hopeful of striking a deal with UEFA.

He said: "I want to go and say to these clubs as well as UEFA is that we are here for the long haul, we want to be honourable, we are people who face up to responsibility but we want some help in meeting these because we do want to get Rangers back to the top of the pile and when we do get back into Europe - whether it's five or 10 years or 20 years - we want to walk back with our heads held high.

"We don't want them to be waived, we don't expect them to be waived and part of me says why should a club waive its debts when it's done its thing honourably. Equally I think I would like the clubs and UEFA to recognise these are not my debts, this is a gesture and for them to work with us where we can come to some amicably agreeable settlement and move forward together as friends."

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