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Rangers set for SPL ejection and police probe

Rangers set for SPL ejection and police probe

By PA Sport
Last update The 25/06/2012 at 18:01 -
By PA Sport - The 25/06/2012 at 18:01
The Crown Office has instructed Strathclyde Police to launch a criminal investigation into Craig Whyte's purchase of Rangers last summer.
 

And the club's woes were deepened when Rangers were effectively consigned to start life outside the Scottish Premier League when Aberdeen became the crucial fifth club to confirm they would vote against a newco application.

Inverness had earlier joined Hearts, Dundee United and Hibernian in making public their intention to vote no.

Rangers chief Charles Green needs seven other clubs as well as the soon-to-be liquidated Rangers to vote in his favour at a meeting next Wednesday and, unless there is a U-turn from at least one chairman, there will be no top-flight football at Ibrox next season.

Aberdeen chairman Stewart Milne said in a statement: "Traditionally we have preferred not to make public our voting intentions, but in light of the level of interest and the fact other clubs have chosen to show their hand, on this occasion I can confirm it is our intention to oppose readmission to the SPL for any Rangers newco."

Rangers went into administration on February 14 and were consigned to liquidation earlier this month.

A statement read: "The Crown Office has instructed Strathclyde Police to conduct a criminal investigation into the acquisition of Rangers Football Club in May 2011 and the subsequent financial management of the club."

The statement continued: "The investigation into alleged criminality follows a preliminary police examination of information passed to them in February this year by the club administrators.

"The Procurator Fiscal for the West of Scotland will now work with Strathclyde Police to fully investigate the acquisition and financial management of Rangers Football Club and any related reports of alleged criminality during that process."

Whyte bought an 85 per cent shareholding in Rangers for £1 from the Murray Group and made several pledges in terms of future investment and paying off the club's bank debt.

The club was forced into administration following court action from Her Majesty's Revenue and Customs.

Immediately after being appointed, administrators Duff and Phelps announced the club had failed to pay about £9m in PAYE and VAT since the takeover.

They soon revealed that the club had paid off Lloyds Banking Group from a £24.4m capital injection from investment firm Ticketus, which was secured on the back of future season ticket sales.

The debt to HMRC was most recently listed at more than £21m in the failed Company Voluntary Arrangement proposal to creditors.

 
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