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Rangers owner: Every penny accounted for

Fri 17th Feb 2012 | Football Club Administration

Craig Whyte is "100% confident" administrators will prove that all money to have gone in and out of Rangers during tenure is accounted for.

In a statement, the Rangers chairman also claims the safeguarding of the future of the Scottish champions remains his intention.

Whyte says he fully understands fans' anxiety after Rangers were forced to call in the administrators on Tuesday.

Whyte said he would not be attending Saturday's match against Kilmarnock, to avoid becoming a distraction to the team.

Duff and Phelps were appointed on Tuesday after Her Majesty's Revenue and Customs (HMRC) forced the issue in the Court of Session in a bid to secure payment of £9million in PAYE and VAT, a debt accrued during Whyte's tenure.

Whyte purchased Sir David Murray's majority shareholding in the club in May.

In a statement on Friday, Whyte said: "When I took over as majority shareholder of Rangers in May last year, I knew I had been handed a huge privilege - and an enormous responsibility.

"My intention then was to do everything I could to safeguard the club's future. And that remains my intention today.

"The traumatic events of the last few days have, understandably, led to a great deal of angst and uncertainty as well as firestorm of media speculation, much of it ill-formed and some of it downright malicious.

"That an internationally-renowned institution such as Rangers should find itself in administration is bound to create shockwaves, particularly among the club's magnificently-loyal fans, and I fully understand their anxiety.

"As chairman, I have been at the centre of this firestorm - and quite rightly so.

"I knew when I stepped up to take over the club that the challenge of restoring Rangers to financial health after many years of living well beyond its means would be daunting.

"But I accepted it, both as a life-long Rangers fan and as a businessman with experience in turning round companies in distress.

"The decision to call in the administrators was painful but it was the right thing to do.

"They have promised to publish a full report as soon as possible and I very much welcome that.

"In spite of the endless speculation and attempts at character assassination by certain sections of the media, I am 100% confident that the administrators' report will prove that every penny that has come in and gone out of Rangers has been properly accounted for.

"And I wish to state categorically for the record now that I personally have not taken a single penny out of Rangers since I became chairman and have paid all my expenses from my own funds."

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