SBD Global/February 28, 2013/Franchises

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  • Rangers To Learn Fate Over Undisclosed EBT Payments On Thursday

    Scottish Third Division Rangers will hear verdict over questioned EBT payments on Thursday.

    The "commission appointed by the Scottish Premier League to rule on alleged undisclosed payments to Rangers players will announce its findings" on Thursday, according to the Scotland DAILY RECORD. The SPL revealed that "the commission appointed in relation to 'RFC 2012 Plc (now in liquidation) and Rangers FC and chaired by Lord Nimmo Smith' would publish its written decision at noon" on Thursday. The probe centers "on payments made through the Employee Benefit Trusts" set up by former Rangers Chair David Murray (DAILY RECORD, 2/27). The SCOTSMAN reported the club is "accused of breaking SPL rules by making undisclosed payments to players" from '00-11 during the reign of Murray. The commision "has a number of sanctions at its disposal including the possibility of removing league championships won by the club" (SCOTSMAN, 2/27). The BBC reported U.K. tax authority HMRC had claimed the scheme, which was used to make £47.65M in payments to players and staff in the form of tax-free loans, "was illegal." Rangers disputed this and a First Tier Tax Tribunal ruled that "the scheme did not breach tax law." HMRC "has subsequently appealed to an Upper Tier Tax Tribunal" (BBC, 2/27). The HERALD SCOTLAND reported the probe "was launched before the original Rangers company was consigned to liquidation and the newco club refused to recognise or co-operate with the investigation." Rangers "called for the investigation to be halted and warned that the ultimate sanction of title-stripping could see fans refuse to attend away games in future" (HERALD SCOTLAND, 2/27).

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