More evidence emerged today on how Rangers recompensed players through their Employee Benefit Trust (EBT) scheme in The Sun newspaper, who have a draft contract Rangers offered an unnamed player. The contract was a letter confirming a six figure payment as well as a £1200 per game appearance bonus.
An accountant told Sun reporters Paul Thornton and Ewing Grahame:
“I have been shown a contract of employment showing how much money players were going to get but also a back letter which I presume that individual has assumed is part of his salary. It seems like a contract.
“If the two documents are handed to someone together, is that seen as being his overall package? If the answer to that is yes then there is a problem because the money that goes into the trust really should be getting taxed because it is his salary.
“The fact it is there as a back letter at all suggests it is dodgy.”
Attention is obviously drawn to the potential criminal consequences of these tax arrangements but football fans throughout the country will be alarmed that Campbell Ogilvie, the man who was general secretary and director of Rangers when the EBT scheme started, is currently president of the SFA and would have been involved in scoping out the secret remit of the SFA inquiry into Rangers, which was asked to report within an incredibly quick two week period. Ogilvie is also one of the few men the inquiry will report to.
If the allegations in today’s Sun are accurate, Rangers have improperly registered football players for a period of around a decade. The penalty for playing an improperly registered footballer in any game is a 3-0 forfeit.
When the SFA president is in a position to confirm all of this, the association have all information they require to make a ruling on this, but despite these allegations being widely reported for many months, they have yet to even acknowledge there is anything to investigate.
Can you imagine the scrutiny the Football Association in England’s board and chief executive would be exposed to if this scandal was not being actioned?
Issue six of CQN Magazine, the Fit and Proper edition, is set to become a landmark collectors item. You can browse the magazine online here but you can buy your own hard copy by clicking on the link below. Read with 20-20 vision…..
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Che I would have thought more of them if they had offered a salary sacrifice without a pay back clause.Mind you football players live in a different world from the rest of us.H.H.
medtim says:
27 February, 2012 at 12:18
————
allright bud.
your post earlier about kite flying in Cyprus, any picture links to the green and white fest ?
Joe Filippis Haircut says:
27 February, 2012 at 12:28
as posted above it was an empty offer as opposed to…….. their empty coffers
PLUS served a Warning Notice together with a statement of case on Rangers FC on 3 February 2012 in accordance with its disciplinary procedures. Rangers FC sought to challenge the Warning Notice on 14 February 2012 by referring the matter to the Disciplinary Committee but the Joint Administrators subsequently withdrew the referral on 23 February 2012. PLUS served a Disciplinary Notice on Rangers FC on 27 February 2012 imposing the fine and public censure.
Now now now. I thought Whytey wasn’t bothered as he was de-listing…..another little peccadillo from our hero?
Kev
You’re reading my thoughts these day.
Rangers saved £45m of costs in the 10 years of widespread EBT use.
Let’s call it £4.5m per season.
That is, they had £4.5M of footballers wages on the pitch than they could otherwise afford, each season for 10 years.
The saving of cost exceeds the annual player budget of most other SPL teams.
In perspective, that means effectively, everytime they took to the pitch against say Hibs, while Hibs had 11 players on the park, Rangers had their regular team plus another 11 good SPL players alongside.
CHE 1220
Kept that quiet about the missus being a Rangers fan,who’s winning on the conversion front?
She must love visiting yer bro in Kilwinning,haha! (Probably not,TBH)
Seriously though,we all have friends and family who follow the dark side. Not all of them deserve this perfect storm.
A good old GIRUY is richly deserved in many cases,and I’m looking forward to my next visit home,but some people really DID deserve better.
So much to read. So little free time to read it. Less time to post for catchup issues.
So really. A ll I have to say is this.
I’M LOVIN IT, LOVIN IT, LOVIN IT. HAIL! HAIL!
MWD
They should be renamed Porcine FC due to the amount of times they are being dragged through the mud
From that Plus statement:
For further information please contact:
Greentarget (Public Relations)
Rangers have been fined £50,000 by the Plus stock exchange for failing to disclose owner Craig Whyte had been previously disqualified as a director.
Every day is Christmas Day…
CRAIGWHYTECSC
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS says:
27 February, 2012 at 12:31
came clean on that one a while back,
well it was during a wee cyber fight with someone on the blog who had challenges differentiating between the knuckle draggers and some who may actually be supporters (and yes theyre in the minority)
as for the brother..well he still squeaks when he walks that tight git.
An ex hun on SSN saying its better to hold onto their players as finishing 2nd rather than 3rd is worth more money.
If the spl give any money to der huns instead of splitting it between the clubs owed money.
Then I truly am finished with the game here.
TBB
I’m not reading your thoughts, I’ve got a webcam in the tree outside your house.
Good day bhoys and ghirls.
Whats the story doing its rounds about liquidation tomorrow?
HH
Che says:
27 February, 2012 at 12:20
Change is the natural progression of life and those who cannot or will change invariably get left behind. If as I understand it the goal of Scotland is to become a modern progressive society then there is no place in it for those who repeatedly focus their anger and hate on one section of that society.
I have a few friends who are rangers men and I suspect in their quieter moments they know the game is up I have seen them already distance themselves from the club they “love”.
The game is truly up for rangers not because of their financial situation that’s just the surface of it but simply because their hatred and bile towards others cannot be tolerated any longer.
And as Martin Luther King said once ” No lie can live forever” The huns have lived a lie for decades now, the lie of superiority over others and glorying in that illusion, funny things illusions one day you wake up and everything is real.
Their reality that they are facing was created by them for them and with those who supported, they can scream and they can shout but they’re going down and I for one will be happy, perhaps then I can come home to the land where I was born and be an Scots born Irishman without looking over my shoulder.
Hail Hail
SP
As an aside, coincidental I know but Abdelbaset Ali Mohmed al Megrahi releasing his autobiography just as Lord Nimmo Smith, one of the judges who sat on his appeal, is appointed to chair investigation into the huns( in administration). May be an interesting read, also involves our “friend” Kenny McAskill.
BlantyreKev – well you are a brave man. I heard he got his moniker as that is the only thing he wears when he posts….
That is a true story*
*That is not a true story
James Cook @BBCJamesCook Reply Retweet Favorite · Open
Trial of Trevor Muirhead and Neil McKenzie accused of conspiring to murder Celtic manager Neil Lennon & others is underway. #lennontrial
Retweeted by Phil MacGiollaBhain
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CHE @ 10:45.
Is the second hole at Lenzie still under water?
Surely it’s only a matter of seconds til our host states…”New article posted”
Now what topic will it be?…
Actually. There is a wee bit of me that feels sorry for Rangers but fortunately my bowel movements secrete this pity on a daily basis.
MWD
So far we have the administrators, the SFA, Strathclyde Police, HMRC, the Crown Office, the PLUS Exchange and probably more.
Is there any investigatory body anywhere that has not been asked to look into Rangers FC PLC (in administration)?
WeeJoe says:
27 February, 2012 at 12:43
lol
drainage work has begun at the bottom farm..still water at the bottom of the alma.
its a quieter club house this weather.
Kev
I refer to you Rogue Leader’s comment at 12.42.
tyrehoops says:
27 February, 2012 at 12:40
I would ignore these rumours. It is not just a case of turning round and liquidating a company. A submission will have to be made to the Court to wind them up. Once served there is normally a period of notice to serve.
Keep the Faith!
Hail Hail!
The associate said: “Those who think they can come in and buy Rangers and somehow offload the big tax case to the Murray group are living in cloud cuckoo land.
“In his mind he is being creative. When he says he hasn’t extracted a penny out of Rangers personally and has paid his own expenses, I believe him.
“He is a big fan, there is no question of that, I’ve seen pictures of how his father took him to matches when he was a kid.
“But he is also a businessman so he obviously saw some way of being able to restructure this so that he could either make a profit for the club and therefore get some return or get it into a shape where he could sell it on.
“He certainly didn’t come in with the idea of wrecking it.
“So this is not about Craig Whyte trying to make a fast buck. If he wanted to do that he would never have looked at the club.
“He clearly saw an opportunity to save the club and at the same time, through a business plan, turn it around.
“There is no question that Rangers were heading towards financial meltdown before he came on board.”
The selling of the Arsenal shares and St Etienne bike shoots the above statement down in flames…
CRAIGWHYTECSC
The Battered Bunnet says:
27 February, 2012 at 12:30
Rangers saved £45m of costs in the 10 years of widespread EBT use.
Let’s call it £4.5m per season.
Every year they stole enough money off of the tax payer to buy 5 Victor Wanyamas, 7 Henke Larssons or 22 Lubo Moravciks.
We actually competed with them.
Anybody know the last time ICT let 4 goals in b4 yesterday?
Gordon_J – FYI – I don’t think Scooby Doo has been asked yet
CHE 1236
Fair play to you for standing up for the fair-minded supporters. They do exist,no doubt about it.
Sadly overwhelmed in numbers,etc.
Thanks also for the tip-off about yer bro.
I was thinking it might be easy to spot a fellow Celt in Kilwinning who was previously unknown to me.
You really ruined that by telling me he’s tight-how am I supposed to spot him now?
RogueLeader,
Well let’s get him and his pals on the case! There’s bound to be something scary hidden inside Ibrox that Shaggy and co could uncover
Asonofdan,
The St Ettienne Bike? Care to elaborate?
out-the-loop CSC
ASOD
Whats the St Ettiene bike?
hh
Keevins not on the Hotline was last seen in the Wembley corporate lounge having a plate of soop!!! <)0)
Sides are splitting, arrogant, ignorant fools, I almost pity them…
£10 million pledged in three days on SaveRangers.com website!
Sign up yourself and pass the link onto friends and family!
The SaveRangers.com website was launched last week by the three main Rangers fan organisations – the Supporters Association, Supporters Assembly and Supporters Trust.
THE LAUNCH NOTE WAS AS FOLLOWS:-
Launch of SaveRangers.com
Thousands of Rangers fans have been asking what they can do help save Rangers Football Club.
Today the three main supporter organisations are launching http://www.SaveRangers.com which gives fans the opportunity to pledge their own money to invest and save Rangers Football Club.
We invite all Rangers fans to sign up and state how much money they would invest if the opportunity for meaningful fan ownership occurs in future.
The three groups call on all potential owners to note that we will no longer tolerate the single owner model for Rangers. We also demand transparency in the clubs finances and insist that all money invested in Rangers should stay within the Club.
The administrators report is key to this as it will determine the scale of the task ahead, it is difficult to predict how long this process will take so we would ask fans to be patient and be ‘Ready’ when the time comes.
Please pass this on to your friends, family, supporters’ buses, online, everywhere & anywhere.
Let’s all come together as the one Rangers family and show the world that like our manager, we don’t do walking away.
http://www.SaveRangers.com
PS
I still registered my disgust that Ogilvie was involved in this enquiry!!
dannysbeard says:
27 February, 2012 at 12:55
an easy madam(e)!!
Gordon_J
You really are stretching the bounds of cartoon fantasy now.
Don’t you know Rangers cannot afford scooby snacks nor pizza. Therefor no magical mystery investigations to be had there.
MWD