Banstead Athletic - beware!!!

Rangers chief Craig Whyte in bizarre link-up with English minnows Banstead Athletic.. average crowd 30
Feb 7 2012 Exclusive by Mark McGivern

EMBATTLED Rangers chief Craig Whyte is supporting a new club... English non-league minnows Banstead Athletic.
The bizarre tie-up was confirmed by one of their sponsors – a long-standing business associate of the Ibrox supremo.
Aidan Earley claimed Whyte hoped to groom future stars through Banstead, who play in front of crowds of around 30 in the Combined Counties Premiership in Surrey.
Venture capitalist Earley – who was bankrupted at the age of 22 – said: “The context in which you refer to me is a possible involvement of Rangers with Banstead Athletic Football Club.
“This is a project for developing young talent and has been two years in the making.”
Earley, 44, and his brother Wulstan, 49, are involved with various firms operating under the Regenesis name – one of whom act as Banstead’s shirt sponsor.
Whyte supported Banstead’s plans for a £3million scheme to buy their ground from the council. The deal, brokered by Aidan Earley, involves raising funds by floating the club on the stock market.
Despite being based more than 400 miles away, Whyte personally sent Reigate and Banstead Council a letter backing his friend’s development plans, admitting his hope to tap into a future talent pool.
Earley referred us to his barrister, David Simpson, who said: “The fact that Rangers are interested in this project is a source of immense satisfaction.
“Indeed, your readers might find the truth heart-warming. Although Rangers are committed to their Scottish youth academy, their interest in the project is derived from their intention of positioning themselves to benefit from the talent developed south of the border.
“This is a positive development for the prospects of home-grown talent and the exposure of Rangers to that.”
Earley denied Rangers had provided any funds, while the SPL giants refused to discuss whether they were involved with Banstead.
But Banstead Council’s Kathy O’Leary said: “I have no knowledge of Craig Whyte’s money being involved with the redevelopment but I can confirm he wrote to us to express his support.”
Banstead chairman and owner Terry Molloy claimed he knew nothing of Whyte’s involvement. He added of Aidan Earley: “We are just a small club and Aidan is a small part of it.”
The Earley brothers are friends of Whyte and have been co-directors in some business ventures. Aidan and Wulstan are brothers of Brendan Earley, who died recently.
He was Whyte’s right-hand man with Vital Holdings. It was dealings under the Vital Holdings banner that led to Whyte being banned as a director for seven years in 2000.
Rangers have been embroiled in a cash crisis and on ongoing case with the taxman could cost them £49million and send them into administration. Last night, an Ibrox source told us: “Nobody here has heard of Banstead Athletic, and that includes Ally McCoist.
“People are scratching their heads about the sense in getting involved with a backwater team. If Rangers want to invest in youth, they have their own academy.
“If they want some kind of exchange set-up, would it not be better to get into a relationship with Real Madrid or AC Milan than Banstead Athletic?

 

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