27 February 2012: The SFA confirm they will start an investigation into these ‘side letters’.
3 March 2012: D&P admit Rangers have no chance of making Europe next season, as they admit audited accounts by the 31st March would be almost impossible. However, in a baffling move, one month later D&P reveal they are ‘appealing’ the decision to ban Rangers from Europe. UEFA respond by saying:
“Licence applicants must demonstrate that as at March 31, 2012, they have no payables overdue towards their employees or social/tax authorities as a result of contractual/legal obligations to their employees that arose prior to December 31, 2011.”
8 March 2012: Lord Nimmo Smith forwards his report to the SFA Judicial Panel. The report contains prima facie evidence that Craig Whyte was not a ‘fit and proper person’. A hearing is set for the 29th of March. This is later postponed at the request of Whyte.
9 March 2012: With no redundancies in sight, Rangers players agree to pay cuts, ranging from 75 – 25%. It is later revealed that these are not ‘pay cuts’, but pay deferments which must be repaid in the summer, otherwise Rangers will be in breach of contract. No info is forthcoming in the summer on whether this was paid or not.
5 April 2012: Duff &Phelps reveal in their first creditors report that Rangers debts could top £134m, with HMRC claiming 93m of the total. The report also details debts to football creditors of around £2.3m. It also details debts of hundreds of creditors, such as that for Susie Thomson – a face-painter from Glasgow owed £40. These were the real human losers in this story. Interestingly, assets are valued at £116m, as per the 2011 accounts.
23 April 2012: The SFA’s independent panel finds Rangers (IA) guilty of 5 different breaches of SFA rules relating to disrepute charges and are handed a £160,000 fine, the maximum available and a 12-month transfer embargo. The judicial panel state that the offences committed by Rangers were only one step “lower than match fixing”, and reveal that they considered the punishment of suspension of license or expulsion from the SFA. They determine a fine would not be enough given the seriousness of the charges and thus impose a transfer embargo.
In the judgement, the panel makes reference to evidence given by the Rangers Financial Controller who said invoices to Ticketus were such that they ” appeared as though Clip Art computer processes had been involved in their creation.” The Financial Controller tells the panel he had never seen them.
24 April 2012: The uproar from Ibrox is loud, with the Bears taking their anger out on the SFA. McCoist makes a rallying call, demanding to know “who these people are”. He admits the next day he knew all along who ‘these people are.’
As a result, a poor director at Raith Rovers takes his family into protective police custody, and Raith are forced to hire round the clock security after arson threats to their ground. Finally, in August 2012, McCoist is charged by the SFA for his remarks. He decided to challenge the charge.
Rangers blame the SFA for not stopping Whyte earlier, despite warnings before he took over from RTC:
“Why did the SFA not investigate when they said they had suspicions before Christmas rather than wait until the club went into administration?
9 May 2012: American tycoon Bill Miller walks away from a proposed offer for Rangers (IA) after being subjected to threats from the Ibrox crowd and discovering a “£30 million black hole” in the Rangers accounts.
If we’re bring up banners from old games… pic.twitter.com/AxqYO1fR8r
— Celtic Wiki (@TheCelticWiki) March 10, 2021
11 May 2012: Rangers reveal they will appeal the transfer embargo and fine imposed. The SFA inexplicably name the 3-man panel that will oversee the decision, going against SFA rules agreed by ALL clubs, including Rangers (IA).
13 May 2012: Reports suggest Charles Green, backed by a global consortium (still unknown!) has bought shares from Craig Whyte for £2. He is given an exclusivity period to propose a CVA worth £8.5m.
17 May 2012: SFA uphold the transfer embargo against Rangers (IA). The SFA state that it was “proportionate to the breach, dissuasive to others and effective in the context of serious misconduct, bringing the game into disrepute.” The Rangers Fighting Fund along with Duff & Phelps announces they are paying a lawyer to challenge the SFA in the Court of Session. SFA say nothing.
22 May 2012: It is now May, 3 months since the SFA/SPL announced an investigation into side letters and unauthorised payments to players from Rangers FC. RTC once again provides evidence of a ‘prima facie’ case by revealing details of Christian Nerlinger’s EBT letters.
23 May 2012: BBC air a damning documentary revealing details of EBT payments and side letters to Rangers players since 2001. They also uncover emails showing that Duff &Phelps’ David Grier seemed to have prior knowledge of the Ticketus deal. D&P and Craig Whyte threaten legal action, but none is forthcoming. The BBC also hints at payments made to managers not employed by Rangers at the time, including Graeme Souness.
