EBTs went to staff at other clubs. £10m unaccounted for

Assuming Sir David Murray was telling the truth to Sky News in March (bear with me), there is a £10m gap between the sum recorded in Rangers accounts as paid to EBTs and the recipients revealed by the BBC last night.

It may be that the BBC didn’t receive information on some Rangers employees but we should also consider what other non-employees received payment from an Employee Benefit Trust, like Graeme Souness, who was employed by another club at the time.

What other clubs’ employees received a piece of that £10m?  Was it only Blackburn Rovers?  Did they know about it?  Did an employee of another SPL club receive payment from Rangers Employee Benefit Trust?

What about journalists?  The cosy relationship between football clubs and sports journalists has been one of the most incongruous features of this debacle.

What about officials?  Yes, officials?

We know cash went out of the company, we know how much is unaccounted for, we just don’t know where it went.  The already-established multi-association nature of these revelations (it involved a club registered by the Football Association in England) puts the matter beyond the immediate scope of the Scottish authorities, which is some comfort.

Many of the facts have been revealed but this will be a story that is still giving a decade from now.  Before Rangers disappear into the ether, the authorities (football and other) must use all leverage possible to discover where that £10m went.

I didn’t see a penny.  Did you?

I am still trying to digest the enormity of what was revealed last night. This could take a while.

You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.

The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.