Ogilvie unsure about his £95,000 Rangers loan

Campbell Ogilvie is unsure about the terms of a £95,000 loan he received from his time as a Rangers director.

With the finances of the Ibrox club under greater scrutiny than ever the SFA President has been forced to speak out about his role with Rangers.

A potential £49m to HMRC could be handed out before the end of the season relating to the way that Rangers operated an Employee Benefit Trust scheme.

Rangers have argued that the scheme was discretionary while HMRC believe that it was contracted with suggestions that players had secondary contracts detailing how they will be paid through the EBT.

Ogilvie started his career in the game working with the Scottish Football League before moving to Rangers where his knowledge of the rulebook and regulations at home and in UEFA were widely praised.

When the EBT scheme was brought in at Rangers Ogilvie admitted that he accepted the scheme without question.

“I can’t remember who put me into the scheme but I didn’t question it because it was set up perfectly legally,” he explained.

“I remember at the time they came in, the Murray Group took a lot of legal and accountancy and tax advice. As far as I was concerned they were legally set up with the backing of the accountants of the lawyers and they were operated legally.“

Explaining his own involvement Ogilvie added: “In my own case, it was an offer of a discretionary bonus or a contribution into the trust. I chose to pay into the trust and I can then apply for a loan from the trust. I got three payments between 2001 and 2003.

“It was a £5,000 each payment and then on the termination of my employment (at Rangers in 2005), as part of my settlement, I got a figure of £80,000. The whole thing is centred around loans. It’s a very technical issue but you have to repay the loans, yes. It’s over a period of time.”

He added: “I was a director. I might not have been involved in the bigger decisions but I’m not going to go and hide from the fact that I was a director. At no time would I walk away and say I didn’t have a responsibility.

“Looking at the situation the club finds itself in now I regret very much that this has happened. I don’t know what I could have done. Maybe I should have questioned things more.”

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