Rangers have been dealt another financial blow with the news that lawlords have ruled in favour of the SPFL over a dispute between the two sides over a £250,000 fine.
The fine was handed down to ‘traditional Rangers’ after an inquiry by Lord Nimmo Smith in February 2013. The club were fined £250,000 after they were found guilty of failing to disclose EBT side letters for an 11 year period during Sir David Murray’s era.
Now three lawlords have ordered the club to pay the fine to the SPFL.
Rangers, under disgraced former owner Charles Green, accepted liability for the £250,000 fine as part of the five-way agreement which allowed Rangers to start life again in the Third Division. This was on top of paying back all football debt to clubs both in Scotland and abroad for transfers and ticket revenue – that Rangers were liable to pay before they were liquidated.
But the current regime under Dave King challenged having to pay another debt owed by the club, despite the previous board headed up by then-chief executive Graham Wallace reportedly agreeing to pay the ‘traditional Rangers’ costs and were in discussions on ways of paying it – according to the SPFL.
The Daily Record reported that ‘an SPFL insider revealed’ that Rangers could still appeal the decision via the Court of Arbitration for Sport, but ‘it would be a lengthy and expensive process and Hampden bosses are confident a line will be drawn under the matter’ given that Rangers still have a shortfall in their finances to see out the season.
If Rangers decide to abide by the lawlords decision then they would either have to organise another loan deal with one of their directors or an outside investor to help pay it off – or the SPFL would just arrest the fine from the £474,750 prize money Rangers when they win the Championship this season.
What are your thoughts on the decision of the lawlords?