Rangers liquidation: SPL complete investigation into double contracts
SCOTTISH Premier League clubs will vote on Wednesday, July 4 on whether to admit the ‘newco’ Rangers to the top flight.
• Disciplinary charges over player payments outwith contracts to be brought against Rangers when club’s future is clarified
• SPL clubs will vote on July 4th on whether to admit a Rangers ‘newco’ into the top flight
The SPL board set the date at a meeting today, where it was also decided that disciplinary charges will be brought against Rangers following an investigation into the alleged use of dual contracts once the future of the club is clearer, but before the start of next season.
On the investigation into Employee Benefit Trusts (EBTs), a statement from the SPL read: “The investigation has now been completed and, in the view of the SPL, there is a prima facie case to answer in respect of its Rules.”
The SPL statement read: “The SPL Board heard a report from its solicitors following the investigation into payments to, or for the benefit of, players allegedly made by Rangers FC outside of contract.
“The delay in concluding the investigation was caused by an initial lack of co-operation from Rangers FC.
“Disciplinary charges will be brought when the future status of Rangers FC is clarified and prior to the start of season 2012/13.”
Rangers were consigned to liquidation last week when creditors formally rejected a Company Voluntary Arrangement (CVA) after Her Majesty’s Revenue and Customs had indicated their unwillingness to agree to the proposal.
A consortium led by Charles Green subsequently completed the purchase of the business and assets of Rangers as a newco for £5.5million.
The new regime now faces a wait of more than two weeks to learn whether the other SPL clubs will vote in favour of allowing the new company into the top-flight.
Next season’s fixtures were released this morning with Rangers replaced with ‘Club 12’ until the situation is clarified.
An SPL statement read: “An application for registration of transfer of Rangers’ SPL share has been received.
“Consideration of the application will depend on receipt by the SPL Board of all required documentation and verification.
“A general meeting of all 12 member clubs has been convened for 10am on Wednesday 4 July 2012 for members to decide whether to approve the transfer.”
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