Thursday, May 24, 2018

Rangers welcome Whyte investigation

SoccerNews in Scottish Premier League 25 Jun 2012


Rangers will support the decision for Craig Whyte’s takeover to be investigated by police after they launched a probe into the acquisition.

Whyte bought the majority stake in May last year, but following a ‘preliminary police examination of information’ given to them by Duff and Phelps administrators, he faces criminality allegations.

“The board’s priority is to rebuild the Club for the future and we are 100 percent focused on that task,” Rangers chairman Malcolm Murray said.

“We welcome any investigation that examines events at the club and will offer every assistance if required.

“The rank and file Rangers fans are blameless. Rightly, they want answers and for those responsible for the club’s fate in recent times to be held to account. Hopefully this investigation will assist in this regard.”

David Whitehouse, joint administrator, remained adamant that the club had fulfilled all of their obligations.

“We provided initial documentation to Strathclyde Police very shortly after our appointment as administrators on February 14 and have had a number of conversations with the police since then,” he said.

“Both in our role as administrators, and previously in our role as advisors, we have fulfilled all our obligations in keeping relevant authorities informed of any developments pertinent to their jurisdictions.

“As court appointed administrators, we will continue to provide our full assistance in the investigation process and welcome this development.”

Whyte effectively funded the move using a 25.3-million-pound deal with London firm Ticketus for future season ticket sales, which wiped out the club’s 18-million-pound debt to Lloyds Banking Group.

The Crown confirmed on Monday that the investigation had begun, after Strathclyde Police carried out enquiries into information handed to them by the administrators of Rangers.

The administrators will soon be replaced in their role by independent insolvency firm BDO, which will liquidate the club. The Crown had earlier released a statement, detailing the imminent investigation.

“The investigation into alleged criminality follows a preliminary police examination of information passed to them in February this year by the club administrators,” the statement read.

“The Procurator Fiscal for the West of Scotland will now work with Strathclyde Police to fully investigate the acquisition and financial management of Rangers Football Club and any related reports of alleged criminality during that process.”


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