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SFA To Sue Craig Whyte


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Ex-Ibrox chief Craig Whyte’s castle under siege in legal war

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Legal fight ... Craig Whyte

Ken Macpherson Photographers

By CHRIS MUSSON AND EWING GRAHAME

Published: 1 hr ago

7

FORMER Rangers supremo Craig Whyte faces going bankrupt and losing his Highland castle — for failing to cough up a £200,000 SFA fine.

Hampden chiefs have now been chasing the defiant tycoon for the cash for almost TEN MONTHS.

But last week they finally lost patience and lodged papers at court demanding the money.

Whyte was hit with the fines last April for bringing the game into disrepute following his catastrophic nine-month reign at Ibrox.

Lawyers delivered the writ last week to the businessman’s £720,000 Castle Grant home near Grantown-on-Spey, Moray.

Hampden insiders say the proceedings give him a final chance to pay up before a full court action — which could see the stately home seized — gets under way.

But a source close to Whyte insisted he would not be handing over a penny — and instead he has told pals that he plans to sue the SFA for £40MILLION in loss of earnings and damage to his reputation.

The insider revealed: “Never mind the SFA bankrupting him, he would love to bankrupt the SFA.

“He believes they failed to follow due process and the evidence they used was flawed — and has since been proved to be wrong.”

Venture capitalist Whyte, 42, had a string of failed businesses behind him, but managed to buy Rangers for just £1 from Sir David Murray in May 2011 — when HMRC’s now-failed tax case was still looming over the club.

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Under threat ... Whyte's Castle Grant stately home could be seized

But last February, oldco Rangers were plunged into administration then liquidation, having racked up massive debts during Whyte’s tenure — including around £14million of unpaid tax.

It also emerged Whyte had failed to tell the SFA — led by chief exec Stewart Regan — he had been banned as a director for seven years from 2000.

The SFA appointed a three-man judicial panel to probe the shambles, led by QC Gary Allan.

It hit Rangers — now a new company run by businessman Charles Green — with sanctions including a transfer embargo.

Whyte himself got a £50,000 fine for bringing the game into disrepute, and three separate £50,000 penalties for blanking the SFA tribunal process.

But when the verdict was announced, Whyte said: “Good luck collecting the money. It’s a joke.”

During the tycoon’s time in charge at Ibrox, Rangers manager Ally McCoist had to stay quiet about his reign.

However, he revealed recently: “We always had a feeling that all was not well. Inside here we knew all was not kicking along nicely. We didn’t know precisely what the problems were, but we did know there was trouble brewing.”

And when Whyte claimed he would like to come back to Rangers one day after the club had gone into administration, McCoist said: “At best it would be ill-advised for Craig Whyte to come back to Ibrox.”

Whyte launched his business career when he was just 15 years old and made more than £20,000 from buying and selling shares before he left school.

He went on to work for his dad’s plant hire company before setting up one of his own — which failed with debts of £300,000. The Monaco-based tycoon then branched out into security, manufacturing and property and claimed to be Scotland’s youngest self-made millionaire at 26.

The stand-off over Whyte’s fine cash means the dispute is hurtling towards all-out war, with official papers now lodged by the SFA at Glasgow Sheriff Court.

A legal source said: “This one could run and run.

“The SFA think they are due the money because when Whyte took over Rangers, he agreed to abide by SFA membership rules and accept any fair punishments they impose. The SFA obviously threw the book at him.

“Of course, Whyte could argue that the £200,000 punishment was unreasonable and unjustified. He might also argue that the fine doesn’t lawfully apply to him.

“There is a suggestion that he could use a loophole by saying that he was the club’s owner, and the SFA rules only applied to club ‘officials’.

“So there’s a long way to go, and proceedings also get expensive for the SFA.”

Last night the SFA confirmed a writ had been served but said it could not give any further details on the action. A spokesman added: “Since the matter is ongoing, the Association will be making no further comment.”

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this is leaving me torn as much as I want Whyte financially ruined the thought of the SFA making even more money from our troubles is sickening I don't know which I would rather.

That picture is horrible i'm certain the weasel of a man was dropped on his head as a baby that's what probably made his eyes look like they are going to pop out of his head.

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