Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Scottish Premier League reject newco Rangers

Wed 4th Jul 2012 | Clubs Ownership

Scottish Premier League clubs have voted overwhelmingly to reject the newco Rangers application, the governing body have confirmed.

The clubs voted on Wednesday morning and Charles Green's newco failed to secure the majority of eight to four needed to allow their entry into the SPL.

The SPL announced the news in a brief statement after more than five hours of talks at Hampden on Wednesday.

SPL chief executive Neil Doncaster earlier hinted the vote could be deferred amid fears over the financial consequences of the Ibrox club starting their new life in the Third Division, but clubs carried through their vow to deny Charles Green's bid.

An SPL statement read: "At today's General Meeting, SPL clubs today voted overwhelmingly to reject the application from Rangers newco to join the SPL."

SPL clubs will now hope their Scottish Football League counterparts accept the newco in the First Division amid warnings that £16million could be lost to the Scottish game if they go down to the Third.

Three-quarters of Rangers fans on the season-ticket database voted for the lower tier in a poll for their preferred option, but Green has previously declared his intention to play at the highest possible level.

Warnings have been made in the last few days that up to half the SPL clubs could go into administration if the Ibrox club are in the bottom tier.

It appears that most if not all of the SPL's commercial contracts include exit clauses for sponsors and partners allowing them to pull out or renegotiate if the Old Firm are not present.

The clauses were inserted amid speculation over the Glasgow pair moving to England or into a European league but they have proved costly after Rangers went into liquidation last month.

A package put to SFL clubs to accept the Ibrox side in the second tier includes moves to merge the leagues, promotion play-offs to the top flight and a £1million payment for television rights.

Before the meeting this morning, Doncaster said: "There are probably three options for dealing with Rangers. Rangers coming into the SPL with an appropriate range of sanctions is one option. Rangers going into the second tier is another option.

"The option that a lot of people have talked about, Rangers in the fourth tier, ultimately that would wreak huge financial damage on the whole game and it's difficult to see why 41 innocent clubs should pay the price for the misdeeds of one.

"So I think there are really two viable options that are in play at the moment."

It is as yet unclear whether relegated Dunfermline or Dundee, who finished second in the First Division, will replace Rangers in the SPL although the proposal put to SFL clubs states the Dens Park club would be promoted.

Green, whose Sevco firm bought the assets of Rangers for £5.5million, attended the meeting with chairman Malcolm Murray and manager Ally McCoist, who left before noon.

The verdict was announced by email about 2.20pm, with Green and Murray leaving shortly afterwards, while SPL clubs continued to talk.

Green claimed earlier this week he was confident chairmen would listen to his pleas after meeting several clubs to warn them of the financial implications.

Murray issued an "unreserved" apology on Tuesday in a move thought to be designed to pave the way for a U-turn.

But St Johnstone, St Mirren, Aberdeen, Hearts, Hibernian, Dundee United and Inverness had already declared their opposition while Motherwell last night announced their fans had voted to reject the application. Green needed an 8-4 majority.

 

Posted by: Kev Howland (@FCKev)

 

http://www.buttonshut.com http://www.buttonshut.com http://www.buttonshut.com

---------------------------------------------------------------------------------------------------

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us –agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Mike Ashley Puts Newcastle United Up For Sale

Tue 17th Oct 2017 | Clubs Ownership

Mike Ashley has formally announced his intention to sell Newcastle United. In a statement released on Monday evening, it was announced that owner Mike Ashley was looking to sell the club by Christmas...

EFL To Consider US Style Interventions At Troubled Clubs

Thu 21st Sep 2017 | Clubs Ownership

Giving the EFL unprecedented American-style powers to take over the running of clubs in crisis will be on the agenda when clubs meet today to discuss how the situation which ravaged Leyton Orient can...

Ossett Albion Takeover Brings Readymade Academy

Wed 13th Sep 2017 | Clubs Ownership

The founders and directors of Unita, a local based facilities management company, have taken the reigns at Ossett Albion in a move which sees the EVO-Stik North club inherit a ready-made football...

Southampton Secures Chinese Investment Partners

Mon 14th Aug 2017 | Clubs Ownership

Southampton Football Club has announced the formal conclusion of talks which will see Chinese businessman Mr Jisheng Gao take a stake in the Premier League club. In a letter to fans issued on Monday...