Just when you thought the upheaval at Scottish club Rangers might slip out of the headlines, along comes another incredible story to hit the Glasgow based outfit.
The financial meltdown suffered by the ‘Oldco’ Rangers Football Club has been well documented over the last 18 months and the creation of ‘Newco’ Rangers, with its outspoken owner Charles Green, have kept the Ibrox club in the news on a regular basis.
The latest controversy to rock Rangers relates to a scheme set up to pay players between 2000 and 2011 which they failed to disclose to the Scottish Premier League.
The commission launched to investigate the irregularities, headed by Lord Nimmo Smith, today decided not to strip the newco Rangers of the Scottish championship titles won by the original club in this period, which it retains.
Investigators deemed that the employee benefit trust (EBT) scheme had been deliberately concealed from the SPL, but that the scheme’s operation did not represent an unfair playing advantage to Rangers and therefore no sporting sanctions were placed upon them. Instead the company responsible for oldco Rangers have been fined £250,000 by the commission.