Whyte Threatens To Take SFA To Court
Updated Thursday, 7th June 2012
Craig Whyte is not about to leave the Scottish football scene quietly.
The Motherwell-born businessman refused to pay the fine, which he initially described as "a joke" and it was reported this week that the SFA's legal team were ready to pursue him through the courts for the money. However, when Whyte was asked for his reaction to the prospect of legal action being against him, he replied: "I will be going after them. I will be looking at legal options against the SFA. They have a lot to answer for with their defamatory statements about me which formed the basis of their so-called investigation. Scottish football's regulators are inept and have showed themselves up. But they have no jurisdiction over me."
In the meantime, Whyte has agreed to sell his 85% shareholding in Rangers for £1 plus £1 from the pocket of Charles Green, who is leading the consortium in place to take control of the club. The former Sheffield United chief executive's group has pledged £8.5million for creditors who will be able to vote on a Company Voluntary Arrangement (CVA) next week. Should creditors reject the CVA, then Green plans to form a newco. Whyte is giving the CVA his full backing and is ready to walk into the sunset following his traumatic period as owner of Rangers, which began when he bought the club from Sir David Murray last year for £1.
He said: "I am 100% behind the CVA, I am very much in favour of it. I hope it goes through because it is the best way forward for the club and it will leave Rangers in an excellent situation. My shares will form part of the consortium's shareholding and after that I will focus on other activities. It has certainly been eventful year but I did what needed to be done, unpopular as it was. There was no alternative. It had to be done. If it wasn't me it would have been someone else. People will look back in a year or two with a different view. People have conveniently forgotten the state Rangers were in at that time. I should have taken the club into administration on completion of the deal. But there was no way the situation would have been avoided unless someone came in and put in £100million and we have seen in recent weeks how difficult it is to get anyone to put money into a football club."