Regan forced into u-turn with Rangers investigation
Yesterday Stewart Regan made some stinging criticisms of Craig Whyte’s leadership of the club less than a week after expressing his deep regret that the club had gone into administration.
The SFA are responsible for licencing all clubs in the country and ensuring that those clubs entered into European football are on a solid financial footing.
Fortunately for Regan Rangers aren’t still involved in the Europa League but twelve months ago Walter Smith’s side were in the middle of ties against Sporting Lisbon.
Yesterday the SFA named the independent panel to investigate the issues at Ibrox with Regan admitting that he has been snubbed for nine months from investigating Whyte.
“The SFA has been kept at arms length by the club’s solicitors,” Regan claimed.
“Despite our best endeavours to get information that would allow us to take a considered view we just haven’t had any information. We made a number of requests to solicitors who were acting for Mr Whyte and we had an exchange of correspondence going back to October.
“I don’t know how many letters were involved but there was a lot and we became increasingly frustrated at the obstructions being put in place to prevent us finding out information we needed.
“We wanted to give the club every chance to explain the situation but that has been difficult.”
Perhaps if the SFA had issued some sanctions they wouldn’t have been fobbed off so quickly.
It took the SFA until December to comment on Whyte after the Rangers chairman was forced to disclose that he had served a seven year ban from holding a directorship.
Only after the club was placed in administration did the SFA announce an independent enquiry with a number of member clubs owed money by Whyte’s disastrous running of Rangers.
Despite the embarassment of Rangers going into administration and the effect that it has on the image of Scottish football Regan’s initial reaction was one of surprise and sympathy.
Last Tuesday Regan said: “I would like to express my deep regret that a Scottish institution should find themselves in the kind of parlous state that has necessitated today’s course of action.”
He added: “This is a profoundly sad chapter in the history of Scottish football and we should not underestimate the potential ramifications for the image of the game as a whole.
“It is important that we learn lessons from this dire situation and work together to provide a platform for clubs to thrive and prosper within their means.”
Rangers must produce audited accounts that confirm the club as a going concern before March 31 to compete in Europe next season. The accounts must be no more than six months old.
If Rangers aren’t licenced to compete in Europe next season it opens up an additional European place for clubs to compete for.
Next season Scotland has two Champions League qualifying places and three Europa League spots allocated.
After yesterday’s announcements by Whyte there appears no prospect of Rangers coming out of administration in next month leaving the door open to Motherwell or St Johnstone to appear in a Champions League qualifier for the first time.
The chances of reaching the group stages are slim but if they get through one qualifying round then lose out they’ll get a second opportunity of European football through the Europa League.
CLICK HERE for HMRC have been very very supportive of Rangers
CLICK HERE for SFA finally launch Rangers enquiry
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