Rangers: SPL delays dual contract investigation
The Scottish Premier League's investigation into possible dual contracts at Rangers has been put on hold.
Scotland's top flight is seeking clarity over the new company's responsibilities for previous misdemeanours.
Rangers's new chief executive Charles Green has begun talks with the league over his "newco" application.
The application will be discussed at an SPL board meeting on Monday.
The SPL investigation was launched in early March following allegations that some Rangers players received payments in the past that were not part of their official contracts.
Last month, following disclosures by BBC Scotland about an Employee Benefit Trust operated by the club and former owner Sir David Murray's company, the SPL issued an assurance that it was progressing with the probe.
But, with the "old" Rangers destined for liquidation, matters have drawn to a halt as the issue of who can be held accountable is debated.
Rangers chief executive Charles Green
Charles Green has begun talks over the "newco" Rangers
Revenue and Customs issued a bill to Rangers for unpaid tax on the EBT schemes, believed to be in the region on £49m, including interest and penalties.
This was contested at a First Tier Tax Tribunal which concluded in January, with the verdict still to be delivered.
BBC Scotland found evidence suggesting that 38 Rangers players had received side-letters giving undertakings to fund their sub-trusts with cash.
Scottish Football Association rules state that all payments made to players in respect of their earnings from football must be declared and clubs falling foul of those rules could face sanctions from the league.
One SPL source told BBC Scotland that part of the Rangers newco's application for league membership could depend on them taking responsibility for past transgressions.
Green has been in discussions with representatives from the SPL for a number of days and his final newco application will be discussed when the league board gathers next week.
When the application has been officially received, the league must allow 14 days before a general meeting of all 12 clubs can be called.
That means that any vote is unlikely to take place before early July.
When the clubs do finally vote, just eight clubs are needed to back the plan for the application to be successful, with Rangers having a say.
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Interesting.
It looks to me as though the SPL have already decided that the historic adjustment of title allocation is not on the cards here.
Changing the record books to say that Rangers did not win the titles during the EBT years is not reliant on NewCo Rangers.
Rangers could have went out of existance alltogether, but this would still not have stopped them from stripping the historic titles.
Looks to me as though they are looking to attribute a non-retrospective penalty to the NewCo, such as a points deduction, or who knows, possibly even attempt another transfer ban.
Think its a sensible approach to be honest, they are probably getting told by Uefa and Fifa to bury it.
I believe Liverpool won the Champions League using EBTs in the same way as Rangers.
Arsenal also won honours when theirs were inplace.
Last thing Eufa will want is for a sudden call for half of its member leagues and flagship tournaments to be called void.
Stripping of Titles - Not being considered
posted on 16/6/12
They just want clarity on whether it is entirely a new club or as you claim the old one in a different shell.
posted on 16/6/12
"comment by timmy (U14278)
posted 3 minutes ago
They just want clarity on whether it is entirely a new club or as you claim the old one in a different shell."
Not at all, they just want to check to see if Rangers can still be held liable for offences of corporate governance due to the fact the corporate shell has changed.
Its a bit unfair to punish a company for the actions of another companies directors, and is probably open to a legal challenge. Its not really important that the NewCo company happens to own our 140 year old club.
posted on 16/6/12
- but it was for the actions of the directors. The punishment might have been wrong but you're still guilty.
posted on 16/6/12
"- but it was for the actions of the directors. The punishment might have been wrong but you're still guilty."
Directors of the OldCo, you cannot punish another company on the basis of corporate liability, if it is not the same corporate entity, even if it does contain the same club.
posted on 16/6/12
I think too many Rangers fans are substituting what they would like to see with what will probably happen.
The Rangers wish list is as follows--the club and the company should be seen as two separate entities so the club now under new ownership cannot be held liable for the sins of the old company. The club will be allowed to enter the SPL with no meaningful punishment, there will be no transfer ban, and no talk of a new history. It will be business as usual with the only difference being that all debts are now gone. Oh, and there will be no talk of stripping the club of its post-2000 titles.
Live in the clouds all you want boys--there is no chance of the above scenario happening. The newco will start off its life in Div 1 at best and the old RFC will be stripped of the last five titles. And when the SPL decide to do that, along with the SFA I would think, who will TRFC be appealing to, in terms of legal action. Another move to the courts would be suicidal. The CAS? Good luck with that--you might just get a hearing sometime next season.
posted on 16/6/12
Comment Deleted by Site Moderator
posted on 16/6/12
Mitre = smug git.
posted on 16/6/12
posted on 16/6/12
Comment Deleted by Article Creator
posted on 16/6/12
300! <Diva>
THIS IS SPARTA!
http://www.youtube.com/watch?v=rvYZRskNV3w&feature=fvwrel