Rangers announce operating loss of £14m Green, according to Rangers" ­statement to the Stock Exchange, "no longer has a notifiable interest in the Company's share capital." The Stock Exchange had been informed by Rangers in June that Green would not be able to dispose of his shareholding until the end of the year. "Under the terms of the lock-in agreement entered into by Mr Green with the Company on Dec 7, 2012, Mr Green is prevented from transferring shares before Dec 7, 2013, without the consent of Cenkos Securities plc other than in limited circumstances such as to connected persons, a family trust or in the event of a takeover of the company," it said. Rangers subsequently replaced Cenkos as their nominated adviser with Strand Hanson in July. McCoist, meanwhile, has established a new world record when it comes to salaries for a manager in the fourth tier of any country in the ­history of football. His reward for winning promotion from the Third Division was an eye-watering £825,000. Last weekend he revealed that he and his management team had agreed to accept a wage cut but he is still likely to be paid more per year than the annual budgets of any of his League One rival clubs. Earlier this season McCoist claimed that he had never been asked to have his salary reduced following the old club's descent into administration and liquidation last year but that he would happily agree to such a move if it helped the club. He has been as good as his word. Finance director Brian Stockbridge trousered £409,000, with half of that amount believed to be in bonus payments, although exactly what either he or Green contributed to winning promotion remains unclear. Rangers also revealed that they had spent £600,000 contesting the claim by Whyte and his associate, Aiden Earley, who have argued that Green was working alongside them in Sevco 5088, the company granted permission to buy the assets of Rangers Football Club plc by administrators Duff & Phelps, and that they, ­consequently, are the rightful owners of the club. Auditors Deloitte admitted in the annual report the outcome of this litigation (should it proceed) is "uncertain" but that, following the internal investigation carried out by Pinsent Masons into the claim earlier this year, believes it has "no legal merit." "The ultimate outcome of this matter cannot presently be determined, and accordingly no adjustments have been made to these financial statements as a result of this matter," they said. Which is a good working definition of uncertainty. Interestingly, the holding (or parent) company, Rangers International Football Club plc, would now appear to be owed £16.163 million by the sporting part of the business, The Rangers Football Club Limited. This has prompted speculation that, should losses continue and lead to another administration, both Ibrox Stadium and Murray Park could be sold and then leased back to the latter, a move which would incense fans.