In the game “Six Degrees of Kevin Bacon” a player has to link another actor or performer to Mr Bacon in no more than six steps. The game is not intended to show that Mr Bacon is an integral part of world cinema, but rather the interconnectedness of people in a comparatively small field.
In an idle moment this morning, I tried the same with Mr Green, the new “preferred bidder” for Rangers and Mr Whyte. I offer the following simply to show how connected the world of football finance is. Nothing I say should be seen as in any way casting doubt on the bona fides of Mr Green or indeed of Mr Whyte.
All of my company research comes via duedil.com, but if there are any errors, they will be mine.
Mr Green has been heavily involved in football and business for many years. One name which crops up a few times in connection with him is John Michael Edelson, also known as Michael Edelson (and I apologise for using Wikipedia as a source).
For example, Mr Edelson was a Director of Gillpollco (No 1) Ltd from 30th April 1992 until 14th January 1997. On the latter date Mr Green became a Director and Chief Executive, although only remaining in post until April 1997.
Similarly Mr Edelson became a director of Sheffield United PLC on 10th June 1992. HE remained so until 14th January 1997 when he stepped down. That same day, Sheffield United PLC got a new Chief Executive, Charles Green! This time he was there until leaving on 30th June 1998.
Mr Edelson is now a director of Manchester United and described by Wikipedia as follows:-
“He is an angel investor, venture capitalist and philanthropist who has been instrumental in creating numerous cash shell companies on both AIM and PLUS. As a result of these, he was nicknamed “The Shellmeister” by Richard Rivlin in an article in the Sunday Telegraph in 1996 and the nickname has stuck to this day.”
Therefore, it is not surprising he has wide business connections.
Moving forward down the time line, we see that Mr Edelson was a director of a company called Regenesis Group Ltd from 10th March 2004 until 10th March 2005.
He was also a director of Worthington PLC from 5th May 2005 until 6th July 2010.
The latter gives us his “Kevin Bacon” connection with Craig Whyte.
When Mr Edelson stepped down as director of Worthington PLC in July 2010, he was replaced by Peter Townsend, a director of Regenesis Holdings Ltd (not Regenesis Group Ltd). Regenesis Holdings owns 14% of Worthington PLC.
On 12th August 2010, a company shown as based in Geneva acquired a 7.54% shareholding in Worthington PLC. This amounted to 890,000 shares. The Company is Liberty Capital Ltd, Route de Trelex 8, 1266, Duillier, Geneva. The contact name is Craig Whyte!
Worthington PLC has a connection too with Mr Whyte as it is an investor in the Jerome Group PLC Pension Fund. On 12th March 2012, CQN reported that the Pension Fund was a claimant of sums held by Mr Whyte’s former solicitors, Collyer Bristow, in the name of Rangers or Rangers Group. It was suggested by Worthington that the Fund was looking at lending money to Rangers and that these funds had been released by the solicitors without authority.
As a final cherry on the cake, the sole director of Regenesis Holdings Ltd is Mr Wulstan Earley. If you search this blog you will find a number of mentions of him and his brother Aidan Earley. Indeed the Earley brothers are involved with Banstead Athletic Football Club, which benefited from a £250,000 payment from Rangers prior to it entering administration!
So, in the footballing Kevin Bacon game, I start at Charles Green, move to Michael Edelson and thence arrive at Craig Whyte. If being pernickety, you would force me to add in Peter Townsend of Regenesis/Worthington as an extra step.
Bearing in mind that Mr Green has said he has only ever met Mr Whyte three times (and I hasten to say I am not doubting him when he does so), that might have been through bad luck as they move, or seem to have moved, in similar circles.
Does this mean anything negative about Mr Green? Of course not. What about his consortium of 20 people?
Until there is transparency and clarity regarding them, then no one, especially the Rangers fans, will know.
Posted by Paul McConville