We are pleased to confirm that agreement has been reached on all outstanding points relating to the transfer of the Scottish FA membership between Rangers FC (In Administration), and Sevco Scotland Ltd, who will be the new owners of The Rangers Football Club.
A conditional membership will be issued to Sevco Scotland Ltd today, allowing Sunday’s Ramsdens Cup tie against Brechin City to go ahead.
Following the completion of all legal documentation, the Scottish Premier League will conduct the formal transfer of the league share between RFC (IA) and Dundee FC on no later than Friday 3rd August 2012. At this point, the transfer of Scottish FA membership will be complete.
– The Scottish FA has received all necessary information and documentation from Sevco Scotland Ltd, including details of the company structure, shareholders, financial projections and business plan.
– Sevco Scotland Ltd has agreed to accept all conditions relating to RFC (IA)’s charges of bringing the game into disrepute, namely the 12-month transfer embargo, beginning at 0.01a.m on 1st September 2012, and payment of all outstanding fines and costs.
– Sevco Scotland Ltd has agreed to settle all outstanding football debts to other members of the Scottish FA plus clubs under the jurisdiction of other Football Associations.
– The Scottish Premier League and Scottish Football League have reached agreement on the purchase of a package of broadcasting rights which will allow the former to include The Rangers FC matches in contracts with broadcast partners.
– The Scottish Premier League has reserved its position in relation to the on-going investigation into EBTs.
Stewart Regan, Chief Executive of the Scottish FA: “We are pleased for everyone involved in this process, and indeed the whole of Scottish football, that a conclusion has been reached.
“There were a number of complex and challenging issues involved but, primarily, the Scottish FA had to be satisfied that the new owners of Rangers would operate in the best interests of the club, its fans and Scottish football in general.
“We have reached agreement on all terms and conditions attached to the transfer of membership and are able to grant conditional membership, ahead of the formal transfer of the SPL share a week today. This will allow the season to kick-off as planned this weekend and I am sure there will be many who will join me in welcoming the start of the new football season in Scotland.
“This has been a difficult period for Scottish football, but with this agreement now in place, and with the new season upon us, it is essential that we all focus our energies on football once again. In the months ahead, the Scottish FA will resume discussions on the subject of league reconstruction. We remain committed to this process in order to re-energise the national game and will work closely with the SPL, SFL and all other relevant affiliated bodies to provide a dynamic product appealing to our supporters.”
Charles Green, Chief Executive of The Rangers Football Club, said “The agreement signed today allows Rangers to be granted membership by the SFA and finally enables the Club to move forward.
“The Board, the Manager and senior executives have been working tirelessly over the last few weeks to secure the future of the Club and today is the start of that process.
“The Board has had to take some very difficult decisions to gain SFA membership, including accepting the delayed transfer ban and paying outstanding financial penalties. But we are now able to get back to playing football and plan for the new season, starting this Sunday with our match against Brechin.
“There remains, however, an outstanding issue with the SPL regarding EBTs. As we have proved in the last couple of months we will stand up to any challenges that face Rangers and will continue to fight for the Club’s best interests.”
Neil Doncaster, Chief Executive of the SPL: “We are pleased to have reached an agreement with the parties concerned. Discussions will now continue with our broadcast partners and we expect to be in a position to make a further announcement next week on broadcasting rights and the on-going EBT investigation.”
Jim Ballantyne, President of the SFL: “Current events have thrown up some serious challenges to Scottish football and the SFL has played its part in trying to navigate through to a solution in difficult circumstances.
“I am now looking forward to doing what we are actually here to do. To play football.”