SPL Commision - £250K fine to oldco, no titles lost

[julescotia 11,407]

Come on over ... we're having a party

[ayrshireger 523]

http://www.scotprem.com/content/mediaassets/doc/Commission%20Decision%2028%2002%202013.pdf

Document released.

[better than all the rest 153]

SPL commission, chaired by Lord Nimmo Smith

"Between the years 2000 and 2011 The Rangers Football Club Plc (now known as RFC

2012 Plc (in liquidation) and referred to in the decision as "Oldco"), the owner and

operator of Rangers Football Club ("Rangers FC"), entered into side-letter arrangements

with a large number of its professional players under which Oldco undertook to make

very substantial payments to an offshore employee benefit remuneration trust, with the

intent that such payments should be used to fund payments to be made to such players

in the form of loans

(2) Those side-letter arrangements were required to be disclosed under the Rules of the

Scottish Premier League ("SPL") and the Scottish Football Association ("SFA") as

forming part of the players' financial entitlement and as agreements providing for

payments to be received by the players;

(3) Oldco through its senior management decided that such side-letter arrangements should

not be disclosed to the football authorities, and the Board of Directors sanctioned the

making of payments under the side-letter arrangements without taking any legal or

accountancy advice to justify the non-disclosure;

(4) The relevant SPL Rules were designed to promote sporting integrity, by mitigating the

risk of irregular payments to players;

(5) Although the payments in this case were not themselves irregular and were not in

breach of SPL or SFA Rules, the scale and extent of the proven contraventions of the

disclosure rules require a substantial penalty to be imposed;

(6) Rangers FC did not gain any unfair competitive advantage from the contraventions of

the SPL Rules in failing to make proper disclosure of the side-letter arrangements, nor

did the non-disclosure have the effect that any of the registered players were ineligible

to play, and for this and other reasons no sporting sanction or penalty should be

imposed upon Rangers FC;

(7) As noted in the Commission's earlier decision made on 12 September 2012 there is no

allegation that the current owner and operator of the club, The Rangers Football Club

Limited ("Newco"), contravened the SPL Rules or could be held responsible for any

breach by Oldco;

In all the circumstances the Commission has imposed a fine of £250,000 on Oldco."

[Dutchy 1,200]

Just turned the radio on and I thought I was on Radio Scotland(Ireland) with the sound of the voices, but it was 5Live and our friend(cunt), Chris McGobbleland was saying that we were not going to lose titles.

Yiphee I thought then I thought, all this shit is the usual 'political' trick of heavy threats, just in order to get their own way by appearing to be nice to us.

This has taken months and we've been ridiculed constantly by the real 'hate' fans in this country.

Doncaaster has to go now, followed shortly by Regan.

What a way to run a countries football???

[BRITNEY IS NOT FEELING IT 8,293]

1201:

SPL commission, chaired by Lord Nimmo Smith

"Between the years 2000 and 2011 The Rangers Football Club Plc (now known as RFC

2012 Plc (in liquidation) and referred to in the decision as "Oldco"), the owner and

operator of Rangers Football Club ("Rangers FC"), entered into side-letter arrangements

with a large number of its professional players under which Oldco undertook to make

very substantial payments to an offshore employee benefit remuneration trust, with the

intent that such payments should be used to fund payments to be made to such players

in the form of loans

(2) Those side-letter arrangements were required to be disclosed under the Rules of the

Scottish Premier League ("SPL") and the Scottish Football Association ("SFA") as

forming part of the players' financial entitlement and as agreements providing for

payments to be received by the players;

(3) Oldco through its senior management decided that such side-letter arrangements should

not be disclosed to the football authorities, and the Board of Directors sanctioned the

making of payments under the side-letter arrangements without taking any legal or

accountancy advice to justify the non-disclosure;

(4) The relevant SPL Rules were designed to promote sporting integrity, by mitigating the

risk of irregular payments to players;

(5) Although the payments in this case were not themselves irregular and were not in

breach of SPL or SFA Rules, the scale and extent of the proven contraventions of the

disclosure rules require a substantial penalty to be imposed;

(6) Rangers FC did not gain any unfair competitive advantage from the contraventions of

the SPL Rules in failing to make proper disclosure of the side-letter arrangements, nor

did the non-disclosure have the effect that any of the registered players were ineligible

to play, and for this and other reasons no sporting sanction or penalty should be

imposed upon Rangers FC;

(7) As noted in the Commission's earlier decision made on 12 September 2012 there is no

allegation that the current owner and operator of the club, The Rangers Football Club

Limited ("Newco"), contravened the SPL Rules or could be held responsible for any

breach by Oldco;

In all the circumstances the Commission has imposed a fine of £250,000 on Oldco."

[RFC55 108,841]

(5) Although the payments in this case were not themselves irregular and were not in

breach of SPL or SFA Rules, the scale and extent of the proven contraventions of the

disclosure rules require a substantial penalty to be imposed;

(6) Rangers FC did not gain any unfair competitive advantage from the contraventions of

the SPL Rules in failing to make proper disclosure of the side-letter arrangements, nor

did the non-disclosure have the effect that any of the registered players were ineligible

to play, and for this and other reasons no sporting sanction or penalty should be

imposed upon Rangers FC;

Says it all really

[keithgersbear 3,225]

They will not catch it by the time we get back. Haha. Get it up them.

[gogzy 31,195]

(6) Rangers FC did not gain any unfair competitive advantage from the contraventions of

the SPL Rules in failing to make proper disclosure of the side-letter arrangements, nor

did the non-disclosure have the effect that any of the registered players were ineligible

to play, and for this and other reasons no sporting sanction or penalty should be

imposed upon Rangers FC;

There it is in a nutshell. Very happy with this.

[The Godfather 71,874]

Anyone else post the ruiling for me cheers?

[Edmiston Drive 3,846]

They will try and steal the headlines, to keep our news off the front pages............ Like dope resigns or senior cardinal resigns following allegations against him in the papers,

Far fetched I know.

[johnw 22]

.

[nelsonRFC82 305]

THE SCOTTISH PREMIER LEAGUE LIMITED

DECISION

by

THE RT HON LORD NIMMO SMITH,

NICHOLAS STEWART QC

and

CHARLES FLINT QC

the Commission appointed by Resolution of the Board of Directors of The Scottish Premier

League Limited dated 1 August 2012 in relation to RFC 2012 Plc (now in liquidation) and

Rangers Football Club

__________________

Summary

[1] For the reasons which are set out in detail below the Commission has unanimously

decided:

(1) Between the years 2000 and 2011 The Rangers Football Club Plc (now known as RFC

2012 Plc (in liquidation) and referred to in the decision as “Oldco”), the owner and

operator of Rangers Football Club (“Rangers FC”), entered into side-letter arrangements

with a large number of its professional players under which Oldco undertook to make

very substantial payments to an offshore employee benefit remuneration trust, with the

intent that such payments should be used to fund payments to be made to such players

in the form of loans;

(2) Those side-letter arrangements were required to be disclosed under the Rules of the

Scottish Premier League (“SPL”) and the Scottish Football Association (“SFA”) as

forming part of the players’ financial entitlement and as agreements providing for

payments to be received by the players;

2

(3) Oldco through its senior management decided that such side-letter arrangements should

not be disclosed to the football authorities, and the Board of Directors sanctioned the

making of payments under the side-letter arrangements without taking any legal or

accountancy advice to justify the non-disclosure;

(4) The relevant SPL Rules were designed to promote sporting integrity, by mitigating the

risk of irregular payments to players;

(5) Although the payments in this case were not themselves irregular and were not in

breach of SPL or SFA Rules, the scale and extent of the proven contraventions of the

disclosure rules require a substantial penalty to be imposed;

(6) Rangers FC did not gain any unfair competitive advantage from the contraventions of

the SPL Rules in failing to make proper disclosure of the side-letter arrangements, nor

did the non-disclosure have the effect that any of the registered players were ineligible

to play, and for this and other reasons no sporting sanction or penalty should be

imposed upon Rangers FC;

(7) As noted in the Commission’s earlier decision made on 12 September 2012 there is no

allegation that the current owner and operator of the club, The Rangers Football Club

Limited (“Newco”), contravened the SPL Rules or could be held responsible for any

breach by Oldco;

(8) In all the circumstances the Commission has imposed a fine of £250,000 on Oldco.

Players were eligible, and no advantage gained!

Hugely significant! The bit about eligibility actually contradicts what the media have been saying this past hour.

Bheasts go and take a fuck to yourself!

[Hairy Rz 35]

250,000 fine. BBC news just skimmed over it

[Jack The Flipper 5,936]

Just had a little cry, and don't want to say anything other than - payback time rangers.

[The Godfather 71,874]

This is breaking news

[ronniemca 479]

Who's the mason in the wig?

Well done brother LNS ,drinks and hokey kokey at the lodge tonight.

[Right_To_Censor 1,951]

i'll bring this back

the seal delivers the news to lennon

[RFC55 108,841]

Yaaaaaas. Thank fuck, I thought someone would have made a thread by now telling us. Cheers mate

[The Godfather 71,874]

If someone could post this in General Sports for Deek then that would be great, he will need this info to keep up the charade...

[Bears r us 30,793]

and to all fellow Bears/Bearettes

[TheBluebells 6,898]

Fucking yes!!

[Dunny_01 2,007]

Thank God for That !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Can we get on with rebuilding our club now............ but should the Illegall Transfer ban now be dropped........ ???

[better than all the rest 153]

i just don't get it,so we didn't do anything wrong.

(6) Rangers FC did not gain any unfair competitive advantage from the contraventions of the SPL Rules in failing to make proper disclosure of the side-letter arrangements, nor did the non-disclosure have the effect that any of the registered players were ineligible to play, and for this and other reasons no sporting sanction or penalty should be imposed upon Rangers FC;

(7) As noted in the Commission's earlier decision made on 12 September 2012 there is no allegation that the current owner and operator of the club, The Rangers Football Club Limited ("Newco"), contravened the SPL Rules or could be held responsible for any breach by Oldco;

In all the circumstances the Commission has imposed a fine of £250,000 on Oldco."

[Edmiston Drive 3,846]

I'm pretty certain that the SPL held back payment from last season for RFC finishing second.

Indeed they did, also made a statement they the new Ltd Co could not claim this prize money, so BDO should really be knocking on their door for said money.

[gogzy 31,195]