STATEMENT issued by Craig Whyte, chairman of Rangers FC, on behalf of the board of directors of Rangers FC: "On behalf of the board of directors at Rangers I believe it is right and proper today to inform our supporters of the true financial position of the club in the wake of the recent publicity, much of it generated with the sole intention of damaging this great football club. "First, the board would like to make it absolutely clear that, at Ibrox, it is business as usual. The club is trading normally and has a strong balance sheet. "The board finds it reprehensible that the law courts have been used in recent days to suggest the club is on the brink of insolvency. It is not. "At the Court of Session yesterday during a hearing instigated by the former chief executive , Martin Bain, and his lawyers, the Judge, Lord Hodge, confirmed what has been already reported - that the club will face potentially serious consequences should the HMRC tax tribunal find against the club and recommend the imposition of an unmanageable liability. "I discussed this very issue with journalists on Monday. At this point the club's advice from tax advisors has been that the club has a good chance of succeeding in the tribunal but it would be wholly irresponsible not to consider the potential consequences for the club should the decision be made against us. "No-one can say with 100% certainty at this stage what the outcome will be - that is why there is a tribunal. I can say categorically that we will be fighting the club's case most vigorously. "We at the club note that during yesterday's legal proceedings there was no mention of the fact that this potential liability from HMRC, came to the fore on the watch of the previous regime. "As chairman, I find it breath-taking that the former chief executive, who was in post when this issue emerged, has now sought fit to seek legal protection from its potential consequences. "Much was made in court yesterday of the club's dispute with the legal firm, Levy & McRae yet no mention was made of the fact the club had raised a complaint with the Scottish Legal Complaints Commission with regard to a potential conflict of interest. "Levy & McRae had acted for Rangers FC on many occasions and the club felt it was inappropriate for them to subsequently act against the club on behalf of the former chief executive. That matter is now with the Law Society of Scotland. "As I explained publicly earlier this week, Rangers FC faces challenging times ahead - as do many football clubs. "The current costs of the club against existing and potential revenue streams make it imperative the club operates within its means. There can be very few businesses today that are not taking this outlook on life. "This club has a great history and a great future - but we will have to work hard to achieve it. It is a great privilege to be the Chairman of Rangers Football Club and I will do everything I can to ensure our team and supporters enjoy continuing success in the future. "The focus of all of us with Rangers at heart is this weekend's Old Firm game and I'm sure I speak for every Rangers fan in wishing Ally McCoist and the team the very best for Sunday."
Well said Craig. I think there are a lot of people desperate to fling muck at the club, without being in possession of any real knowledge or facts. The situation is undoubtedly a complex one (well above my pay grade) and I doubt the majority of Scotland's press have the foggiest when it comes to the intricate financial and legal issues surrounding such matters. We've been told a million times that we're going out of business, and yet we're still winning trophies. A wee win on Sunday and everything will be right with world.
this is the fourth year in a row that the tic fans have had us going out of business and selling all our players. let's all hope they are as right this time as they have been in the past and that we win the SPL yet again.
It really is a bit pathetic, hoping your rivals go out of business so you can gloat. Take the rivalry out of it for a second, think of the innocent people employed by Rangers, the catering staff, grounds crew, admin team etc etc.. These people have done absolutely nothing to anyone. Why would ANYONE wish them to lose their jobs? In a period when the UK economy is at rock bottom, we have some people praying that the government forces even more on the the unemployment list. Pathetic excuse for humans if this is what you truly want to happen. Love thy neighbor!!!
