The club from Ibrox has made a further plea to the SPFL for an emergency loan to meet their April pay-roll commitments.
Last week the Ibrox club requested that the SPFL pay out loans to all 42 clubs equal to the amount of prize money that they would be due based on current SPFL positions.
That was turned down with the SPFL putting out a proposal to their members to conclude the season which would settle promotion and relegation issues and see the prize money paid out.
The old Ibrox club left Celtic, Dundee United, Dunfermline and others high and dry when they went into administration in February 2012 but its replacement club seems to be wanting loans issued for 41 other clubs.
To provide a loan the SPFL will require security in case of default, it’s believed that anything of value at Ibrox has been used as security against loans secured from Close Brothers, generally known as the lender of last resort in business.
Updating events, The Sun quotes ‘A Gers spokesperson’ claiming:
A spokesman for Rangers advised that Rangers Company secretary, James Blair, has had several email exchanges with the SPFL legal adviser, Rod McKenzie.
Remarkably, we have learned from an email received from Mr McKenzie that our proposed resolution is deemed unnecessary because the SPFL board already has the authority to provide loans to member clubs which can be exercised by the SPFL at any time.
The Inverness CEO, Scot Gardiner, confirmed on national radio yesterday that SPFL representatives made it clear on several conference calls that it was necessary to approve the SPFL resolution in order to release funds which would relieve the financial hardship being experienced by many clubs.
Member clubs will be shocked to learn this is not the case and any club facing short term financial difficulties should request a loan from the SPFL immediately.
Our resolution was never intended to release end of season fee payments but instead to provide loans as an advance on such payments. It is now apparent that this is already within the power of the SPFL. This provides further evidence that an independent investigation is urgently required.
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SPFL board member Stewart Robertson really should have informed his Ibrox colleagues that they can apply to the SPFL for a short term emergency loan.
The SPFL are still waiting on evidence to support the allegations of Douglas Park.
