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SBD Global/March 1, 2013/Franchises
Commission Fines Rangers Oldco $380K For Undisclosed EBT Payments, Will Keep Titles
Published March 1, 2013
NEWCO NOT RESPONSIBLE: The PA's Lisa Gray reported the commission confirmed its earlier decision that "newco Rangers could not be held responsible for any breach of rules by the oldco." The decision "is set to conclude a lengthy process begun by the SPL on March 5, before Rangers were consigned to liquidation and were relaunched as a new company." Some of the delay "was caused by administrators Duff and Phelps' failure to release documents, for which oldco Rangers were 'admonished'" Thursday. The commission was appointed on August 2 (PA, 2/28). The Scotland DAILY RECORD reported Rangers CEO Charles Green claims his refusal to "surrender" SPL titles has been vindicated by the outcome of an investigation into undisclosed payments to players. Green previously claimed that "he was offered a deal to trade titles for membership" of the Scottish FA after the club was consigned to liquidation in the summer. Green said in a statement: "It is a matter of fact that people within the SPL wanted me, at first, to surrender titles as part of a deal to enable Rangers to play again as a member of the SFA. I rejected and resisted that suggestion and today's decision vindicates the position of the board and the supporters" (DAILY RECORD, 2/28).