press release

PRESS STATEMENT

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Friday 27th July 2012

Joint statement on behalf of The Scottish FA, The Scottish Premier League, The Scottish Football League and Sevco Scotland Ltd.

We are pleased to confirm that agreement has been reached on all outstanding points relating to the transfer of the Scottish FA membership between Rangers FC (In Administration), and Sevco Scotland Ltd, who will be the new owners of The Rangers Football Club.

A conditional membership will be issued to Sevco Scotland Ltd today, allowing Sunday’s Ramsdens Cup tie against Brechin City to go ahead.

Following the completion of all legal documentation, the Scottish Premier League will conduct the formal transfer of the league share between RFC (IA) and Dundee FC on no later than Friday 3rd August 2012. At this point, the transfer of Scottish FA membership will be complete.

Key points:
- The Scottish FA has received all necessary information and documentation from Sevco Scotland Ltd, including details of the company structure, shareholders, financial projections and business plan.
- Sevco Scotland Ltd has agreed to accept all conditions relating to RFC (IA)'s charges of bringing the game into disrepute, namely the 12-month transfer embargo, beginning at 0.01a.m on 1st September 2012, and payment of all outstanding fines and costs.
- Sevco Scotland Ltd has agreed to settle all outstanding football debts to other members of the Scottish FA plus clubs under the jurisdiction of other Football Associations.
- The Scottish Premier League and Scottish Football League have reached agreement on the purchase of a package of broadcasting rights which will allow the former to include The Rangers FC matches in contracts with broadcast partners.
- The Scottish Premier League has reserved its position in relation to the on-going investigation into EBTs.

THERE IS MORE!!!