Motherwell will back sporting integrity in newco vote
The SPL is due to vote on Wednesday about new financial fair play regulations that will have a major impact on the future of Rangers.
Although the troubled Ibrox club have yet to offer a CVA the formation of a newco is looking more and more likely if they are to be in action as a club next season.
The argument has boiled down to the case for sporting integrity (football sanctions) or commercial matters (a Sky Sports deal at any price) with Motherwell leaning towards the sporting integrity side favoured by Hibs and St Johnstone. Motherwell went into administration in 2002 and are now hoping to set up a membership scheme that will ensure a broad cross-section of ownership.
Tonight’s statement from Fir Park said: “We are well progressed with a plan that is designed to bring both fan ownership and long term financial stability to the club, without reliance on funding from either a bank or a benefactor.
“We do not believe we can separate the sporting integrity of our league from the sustainable future of our club; the two go hand in hand. “Any decisions we take as a Board are made in the best interests of the club with a view to achieving our stated aims for ownership and funding.
“In the event that a “Newco” proposal is presented to us, we intend to fully discuss with representatives of our supporters groups, prior to making any decision.”
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