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Oldco Rangers fined by SPL but not stripped of any titles

 

An SPL committee headed by Lord Nimmo Smith today ruled that Rangers oldco would not be stripped of any league or domestic titles, but will be fined 250,000 pounds for financial irregularities in the years building up to the club's administration.

The commission found the Scottish giants guilty of failing to make proper disclosure of side-letter arrangements between 2000-2011. The reason the committee decided not to strip the club of any of the titles won during this time was due to the fact that the club 'did not gain any unfair competitive advantage'.

The commission report read: "Rangers FC did not gain any unfair competitive advantage from the contraventions of the SPL rules in failing to make proper disclosure of the side-letter arrangements."

"Nor did the non-disclosure have the effect that any of the registered players were ineligible to play, and for this and other reasons no sporting sanction or penalty should be imposed upon Rangers FC."

HM Revenue and Customs had claimed the Employment Benefit Trust scheme, which was used to make payments to players and staff in the form of tax-free loans, was illegal."

Rangers disputed this and a First Tier Tax Tribunal ruled last November that the scheme did not breach tax law, although HMRC have The commission found the Ibrox side guilty of failing to make proper disclosure of side-letter arrangements between 2000-2011.

However, the club avoided the most severe sanction of losing up to five SPL titles won during that decade after the commission ruled Rangers 'did not gain any unfair competitive advantage'.

The commission report read: "Rangers FC did not gain any unfair competitive advantage from the contraventions of the SPL rules in failing to make proper disclosure of the side-letter arrangements.

"Nor did the non-disclosure have the effect that any of the registered players were ineligible to play, and for this and other reasons no sporting sanction or penalty should be imposed upon Rangers FC."

HM Revenue and Customs had claimed the Employment Benefit Trust scheme, which was used to make payments to players and staff in the form of tax-free loans, was illegal.

Rangers disputed this at the end of last year in November, and a First Tier Tax Tribunal ruled that the scheme did not breach tax law, although HMRC have appealed that initial verdict to an Upper Tier Tax Tribunal.

How this fine will be payed by the Oldco Rangers remains to be seen, with the administrators in charge of liquidating the club presumably in charge of drawing up the funds, it remains to be seen whether newco Rangers will be involved in any capacity in this sense

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