Monday, April 23, 2012

Rangers Update: Whyte Gets A Ban, So Do Rangers

The administrators from Duff and Phelps broke out the word "draconian" in describing the decision that came down today from the Scottish Football Association...

The SFA decided that owner Craig Whyte was to be fined 200,000 pounds and was the proud owner of a lifetime ban after being deemed unfit to own or manage an SFA franchise.

Whyte's response to the sanctions...?

"Tell me how it is going to affect me? I couldn't care less. It makes no difference to my life whatsoever - and good luck collecting the money.

"It's a joke."

But that wasn't all... much like what the NCAA does when they hand out sanctions to schools, the SFA acted in the same manner- a 160,000-pound fine and a 12-month embargo on any player signings for Rangers...

D&P wasn't pleased at all... here's their response in full...
Paul Clark is given credit for the statement...

"All of us working on behalf of the Club are utterly shocked and dismayed by the draconian sanctions imposed on Rangers in respect of these charges.

"It appears that on one hand the disciplinary panel accepted our central argument that responsibility for bringing the Club into disrepute lay with the actions of one individual - Craig Whyte - as is evident from the unprecedented punishment meted out to him.

"During this hearing the Club produced compelling evidence from a number of sources that following his takeover, Craig Whyte ran the Club in a thoroughly unaccountable manner, rather than adhering to a long-established and proper form of corporate governance.

"The thrust of the charges against the Club focused on non-payment of payroll taxes and evidence was produced that all such decisions in this area were taken by Craig Whyte during his tenure.

"Given this evidence, it is difficult to comprehend that the disciplinary panel has seen fit to effectively punish the Club even more heavily than Mr Whyte. As everyone knows, it has already been decided he is not a fit and proper person to run a football club and any further punishment on him will have little or no impact.

"However, for Rangers, a ban on signing players will seriously undermine the Club's efforts to rebuild after being rendered insolvent.

"Furthermore, we do not know how bidders for the Club will react to these sanctions and what affect they will have on their proposals.

"The Club has asked for full written reasons for these decisions and intend to appeal against the findings."

Let's go back to the original adminstration presser for a reminder to the SFA what the Rangers actually are going through at the moment...
((HT: BBCNews/youtube))

Spaeking of one of the guys chasing after Rangers...

Towing major domo Bill Miller is proceeding with his 11.2-million pound deal to create two separate but operating equally Rangers franchises. He says he has had conversations with the SFA and the SPFA (the player's union), but wants to still talk to head coach Ally McCoist when he can between now and the time of the team's next game this weekend against Hearts.

The plot thickens...

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