Rangers administration: ‘Irrelevant’ owner has no secured status

CRAIG Whyte has been described as “absolutely irrelevant” to Rangers’ future by Paul Clark, the club’s joint administrator, writes Tom English.

“I don’t see him as a secured creditor and I don’t see him as on-going owner of Rangers,” said Clark, of Duff & Phelps. “In terms of Rangers’ future medium to long-term he is absolutely irrelevant.”

Clark is insistent that Whyte has no claim to anything at Rangers. “We’ve seen no evidence whatsoever of any investment by Craig Whyte into Rangers. We can’t see any monies that he has paid in. We can’t see how he can have any secured creditor status.

“He has no rights, in my view, to Ibrox or Murray Park. The only rights he could possibly have over Ibrox and Murray Park is if his secured creditor status was proven and he had any value to it.

“He doesn’t have any value. So, if he’s not a secured creditor, he’s no rights. The SFA have announced that he is not a fit and proper person and therefore he couldn’t come back.

“He paid no money so there is nothing to assign to him. The money from Ticketus was paid into Collyer Bristow and those monies were from the sale of Rangers season tickets. Those monies were then paid to the bank so the company, Rangers, paid off the bank, not Craig Whyte. He put no money in.”