St Johnstone will vote for SPL newco sanctions
On Wednesday the SPL will attempt for the third time to vote through new financial fair play regulations covering administration and non-payment of taxes and wages.
The crisis at Rangers is no nearer being resolved with Charles Green currently attempting to send out a pennies in the pound CVA.
If Green’s plan is rejected by creditors he’s likely to attempt to set up a newco and hope for direct entry into the SPL.
There is currently no provision to transfer the share of one company to another with that issue up for debate. Whether the newco would suffer any sporting sanctions has been fiercely debated with little clarity coming from the clubs.
St Johnstone have often been ridiculed for their tight financial management whilst clubs like Motherwell, Dundee and Livingston have plunged into trouble through unsustainable spending.
If no sanctions are applied to an SPL newco it could open the doors for other clubs to go down the same route to dump the debt built up chasing success.
“If I’ve got a vote then I certainly will not let Rangers in without sanctions,” Brown told STV.
“The feeling from the people I’ve spoken to from within the chairmen’s ranks is that they won’t let Rangers in with a ‘get out free card’.
“I think Rangers themselves and the majority of supporters accept that they’re going to have to get some form of punishment. That’s wholly accepted throughout the game. It has to happen.”
Meanwhile Kilmarnock chairman Michael Johnston has claimed that Rangers have suffered enough and that a newco club should be freed from past misdemeanors.
The Rugby Park chief claimed: “You have got to be very careful not to come in too heavily with penalties and points deductions or financial penalties going forward which actually put people off investing in that club and trying to make it healthy.
“After all, it’s not the new owners who have done the damage, it is the previous owners.
“Also, some people in football have overlooked the fact that Rangers were penalised 10 points, the maximum penalty under SPL rules, which effectively ended their challenge for the league title.
“They were then refused a UEFA licence by the SFA and so can’t compete in Europe next year, that is the second penalty.
“The third penalty they have suffered already is the fine combined with the one-year embargo on signing new players over 18.
“So those are three very substantial penalties that Rangers have suffered and the disqualification from UEFA competition and the signing embargo, those are likely to effect the newco or the club under a CVA.
“So how many more penalties should be piled on top of a club that is trying to recover from a desperate situation and a group of people who have no part to play in the bad things that have happened in the past?”
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