THE SPFL have found Rangers liable for a £250,000 fine originally handed to the Oldco following the outcome of an investigation into the club’s use of EBTs.
Rangers revealed the SPFL’s decision and confirmed they have launched an appeal against it, in a statement issued to the London Stock Exchange today. The statement read: “The board of the SPFL has determined that Rangers Football Club Limited (the “Club”) is liable to pay the EBT Commission fine of £250,000 levied on RFC 2012 PLC (previously The Rangers Football Club plc) (in liquidation) The SPFL has also decided that this sum will be recovered from the Club by the SPFL withholding broadcasting money and other sums due to the Club but which are paid in the first instance to the SPFL. An appeal has been lodged with the Judicial Panel of the Scottish FA which has confirmed that the decision of the SPFL is suspended pending the outcome of the appeal subject to the SPFL’s right to object. The Board is advised that the sum is not due to SPFL and the appeal will be pursued vigorously.”
CONNECT WITH THE SCOTSMAN
• Subscribe to our daily newsletter (requires registration) and get the latest news, sport and business headlines delivered to your inbox every morning
The independent EBT commission was set up to investigate alleged undisclosed payments made to players at Ibrox from 2000 to 2011.
The three-man panel, chaired by Lord Nimmo Smith, heard evidence over a three day period in January last year.
The Commission did find Rangers guilty of breaching SPL rules regarding non-disclosure of payments to players and imposed the fine of £250,000.
However, the punishment was imposed on the liquidated Oldco Rangers, meaning that the Newco incarnation of the club was originally not liable to pay it.
Newco Rangers did assume liability for the liquidated company’s football debts when the club’s SFA membership was transferred in 2012, though it was originally believed that the fine over EBTs would not affect them.
SCOTSMAN TABLET AND IPHONE APPS