Doncaster offers newco encouragement
Without direct reference to the situation at Rangers there can be little doubt that new financial regulations are geared towards the troubled Ibrox club.
New punishments for clubs that fail to pay players or the tax authorities on time will be voted on but there was no mention of existing licence regulations which require clubs to produce audited accounts.
Rangers last audited accounts were published in December 2010. Setting out a punishment, in line with those issued by UEFA, for a club that fails to produce audited accounts would bring greater clarity to the whole issue.
“There is certainly a distinction between a CVA and a newco, without any doubt,” the SPL chief claimed. “But newcos have been allowed within UK football for many years, newco is typically the way that businesses in general escape from administration, it is far more common than a CVA route.
“So I am not entirely sure why such a distinction is drawn between the two routes out of administration.
“You achieve a sporting advantage over other clubs by going into administration, therefore you should receive a sporting penalty for going into administration in the first place, that seems to me to be entirely logical.”
Gretna and Airdrieonians were both liquidated without a newco being formed while Livingston and Dundee received footballing sanctions before emerging from administration through CVA’s.
Explaining next weeks resolutions Doncaster added: “There is a number of financial fair play resolutions to be considered, one of those will potentially increase the sanctions on any club going into administration in the future.
“There are two resolutions that deal with newco and what might be a penalty for a club escaping administration via a newco route.
“There are new resolutions that would make it an offence not to pay the players or the tax man on time and there are various tidying-up resolutions that will be considered.
“Separately, there will also be a members requisite resolution which is an attempt to change the voting rules in the SPL.
“The vast majority of votes in the SPL are carried on an 8-4 basis but there are some resolutions require 11 votes and the resolution that has been put forward by some clubs would be to change that to 75% in all cases.
“Finally, there is a resolution which would change the decision on a newco which is currently taken by the SPL board, to be taken by the members.”
Charlie Green’s CVA proposals are currently being drafted by Duff and Phelps offering a maximum of £8.5m to be shared amongst creditors.
That offer is almost certain to be rejected by HMRC and Ticketus since Rangers have substantial assets in the form of Ibrox and Murray Park as well as players.
The success or otherwise of a CVA won’t be known before next weeks SPL vote leaving the possibility that voting on the new resolutions could be delayed for a third time.
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