‘I’ve got nothing to hide’ protests Whyte after Rangers probe by BBC

Rangers owner Craig Whyte has stated he has “nothing to hide” in an interview timed to precede a BBC Scotland investigation into his business background.

Whyte, who has instructed his lawyers to begin legal proceedings against the BBC over allegations made against him in a documentary aired last night, also addressed the rising fear that Rangers may be forced into administration.

The Ibrox club are involved in two separate cases with HM Revenue and Customs over unpaid tax bills with fears that the outstanding sum owed could be as much as £49 million. The cases relate to payments made before Whyte puchased the club from Sir David Murray in May, for a nominal fee of £1.

Whyte has been provided with a further headache after last night’s documentary, aired on BBC Scotland and entitled Rangers - the Inside Story, made allegations about Whyte’s past business dealings. The programme also includes a claim from former chairman Alastair Johnston that Lloyds Bank forced through Whyte’s takeover as they sought to recover £18 million worth of debt.

“Let me paraphrase, I was told that if I stood in the way of this deal happening, they said we’re gonna cancel your credit line tonight,” said Johnston, who said the alleged threat came from an unnamed individual at the bank.

Rangers described the documentary as a “prejudiced muck-raking exercise”. An hour earlier STV News at Six broadcast an interview given to the station by Whyte and which was designed to re-assure Rangers supporters. “I’ve got nothing to hide at all,” said Whyte, whose lawyers, Carter Ruck, have been instructed to commence immediate legal proceedings against the BBC. “I’m very open. I come to Ibrox regularly and a lot of people know me around here. I’ve got nothing to hide.”

Whyte appeared to indicate that administration might be a “fresh start” after a period when the Ibrox club racked up insurmountable debts.

“It’s in some ways worrying but in other ways it would draw a line under a sad event and a sad period in history and would be a chance for a fresh start for Rangers,” he said. “Whatever happens, Rangers are here, Rangers are moving forward and it’s maybe one step back to take two steps forward so I would say to Rangers fans that I appreciate their concern but we can sort this out and we will sort this out.”

He denied it when asked whether he thought administration was “inevitable”.

“It’s certainly not something that we want to see happening and we’re actively doing all we can to avoid it,” he said.

Whyte was adamant when asked about the possibility of liquidation.

“There’s no chance of Rangers going out of existence. No chance whatsoever,” he told STV chief news reporter David Cowan. A second part of the interview is due to be aired tonight.