Rangers receive £272,000 Euro 2012 payout

RANGERS have received £272,000 from UEFA for their players’ involvement in Euro 2012 - but the cash will go straight to the accountants responsible for winding up the oldco.

• Club granted £272,000 by UEFA

• Cash to go to oldco accountants

• Payment due for players’ involvement in Euro 2012 qualifiers and tournament

The payment, from UEFA’s fund for clubs whose players took part in the tournament, is expected to go to BDO, the accountancy firm in charge of liquidating the club.

BDO receiving the payment could upset Rangers’ creditors. Rapid Vienna are owed over £1 million from Croatia striker Nikica Jelavic’s transfer to Ibrox, but are receiving less than half of the payment due to the oldco. Jelavic was a key figure in the Croatian side which eventually reached the finals, and left Rangers for Everton in the January transfer window.

UEFA have paid out a total of £80 million to clubs who had players involved in either qualifiers or the tournament in Poland and Ukraine. Celtic topped the Scottish payout list, with ten Scottish clubs in total receiving payments.

The oldco are currently being investigated by the SPL over their use of Employee Benefit Trusts between 2000 and 2011.