Latest on the £250k fine

[forlanssister 3,114]

Stock Exchange announcement:

 

RNS Number : 1834C

Rangers Int. Football Club PLC

14 January 2015

 



 

14 January 2015

 

Rangers International Football Club plc

("Rangers" or the "Company")

 

Scottish Professional Football League Limited ("SPFL") Claim

 

 

Further to the announcement on 17 December 2014, Rangers Football Club Limited (the "Club") lost the appeal with the Judicial Panel of the Scottish FA on 13 January 2015 in respect of the EBT Commission fine of £250,000 levied on RFC 2012 PLC (previously The Rangers Football Club plc) (in liquidation). The Club will now take the matter to arbitration.

 

For further information please contact:

 

Rangers International Football Club plc

Tel: 0141 580 8647

David Somers

 

 

 

WH Ireland Limited

Tel: 020 7220 1666

Adrian Hadden / Paul Shackleton

 

 

 

Newgate Threadneedle

Tel: 020 7148 6143

Roddy Watt / Ed Treadwell

 

 

 

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

END

 

[colinstein 294]

Rangers say they will continue to fight a £250,000 fine imposed by the Scottish Professional Football League despite losing in an appeal against the judgment to the Scottish FA.

 

A judicial panel of the governing body ruled on Wednesday that the Championship side are liable for the punishment, which was imposed by the league after the club breached rules of their use of employee benefit trusts for players.

 

In a statement to the Stock Exchange, Rangers say they will now take the matter to arbitration.

 

Although the case was against the Rangers oldco, the SPFL insist the newco "signed an agreement" to be liable for the fine, with the club's chairman David Somers and its former chief executive Graham Wallace recently "acknowledging the liability and suggesting ways of paying the sums due".

 

Money is not directly payable out of Rangers' bank accounts, with the league instead intending to withhold the sums due from cash due to be paid out in prize money to the club.

 

Rangers said in a statement: "Further to the announcement on 17 December 2014, Rangers Football Club Limited (the "Club") lost the appeal with the Judicial Panel of the Scottish FA on 13 January 2015 in respect of the EBT Commission fine of £250,000 levied on RFC 2012 PLC (previously The Rangers Football Club plc) (in liquidation).

 

"The club will now take the matter to arbitration."

 

http://sport.stv.tv/football/306533-rangers-to-take-ebt-fine-to-arbitration-as-scottish-fa-rule-against-club/

 

think the SFA are holding about £2million....prize money and cash for the transfer of Steven Davies to Southampton

[the gunslinger 3,366]

We never got anything like 2 million for Davis ad they aren't withholding more than the 250k and perhaps costs.

Edited January 14, 2015 by the gunslinger

[colinstein 294]

We never got anything like 2 million for Davis ad they aren't withholding more than the 250k and perhaps costs.

 

I thought the SFA were holding £800,000 transfer money for Davis and over £1million in prize money for being runners up in the league

[RANGERRAB 3,653]

In 2012 as part of the agreement for the SFA licence & membership transfer to newco (i.e. the club continued under new corporate structure) we had to forfeit SPL prize monies.