Sir David Murray Apologizes To Rangers Fans For Financial Calamity
Scotland Editor
BBC Scotland News
The Former Owner Of Rangers, Sir David Murray, Has Apologized To fans For His Part In The Financial Calamity That Befell The Club More Than A Decade Ago.
Sir David, Who Sold The Ibrox Side For £1 To Businessman Craig Whyte, Presided Over Ibrox When The Club Gave £47m In Tax-Free Loans to Players And Staff Between 2001 and 2010.
Under Mr Whyte’s Ownership The Rangers Business Went Into Liquidation In 2012 – A year After The Sale.
In A Wide-ranging Interview With The BBC To Mark The publication Of His Autobiography, Mettle, Sir David Said he Regretted His Decisions And said Sorry To Fans And Club staff.
“Of Course I’d Apologise,” He Said.
“I’m Not One Of These People Who Run A Company And Hide.
“It Was A Terrible Moment, And I Apologise To All The Staff, Good People, And I Know many Of Them To This Day.
“I’d Hope In Hindsight,they Look At The Facts And Think I Was Put In A Very Challenging Position.”
What Where The Facts?
what was Known As The “Big Tax Case” Centred On The Club’s use Of Employee Benefit Trusts (EBTs).
EBTs,Which Were Also Used By Other Clubs,Enabled Rangers To Pay £47m To Players,Managers And directors Between 2001 And 2010 In Tax-Free Loans.
HMRC Argued The Payments Were Earnings And Should Be Taxable.
Two Tribunals In 2012 And 2014 Had Previously Found In Rangers’ Favour but The Supreme Court Ruled In Favour Of HMRC After An Appeal In 2015.
The Case Unfolded Against A Backdrop Of Financial Meltdown For Rangers.
Years Later, Mr Whyte Was Charged And Cleared Of Taking Over The club By Fraud.
A Court Heard That His Takeover Of Rangers Was Sealed With A Pound Coin Being Tossed Across A Table In Sir David’s Office.
At The Time, Mr Whyte Had Agreed To Take On Obligations Which Included Paying An £18m Bank Debt And £5m For Players.
Sir David Denied Failing To Carry Out Due Diligence On Mr Whyte,Saying: “I Went On The Facts In Front Of Me.”
Challenged On Whether It Was Morally Acceptable To Deprive The NHS And Other Public services Of Funds So Millionaire Footballers Could Pay Less Tax, Sir david Replied: “They Didn’t Do Anything Illegal.”
“Footballers Are Getting Paid Too Much. Not Just at Rangers, Everywhere,” He Went On, Adding: “It’s Avoidance. People Do That.”
Sir David Denied That The trophies Rangers Had Won In This Period Were Tainted By The Tax Arrangements And Also Denied That The Scheme Amounted To Buying Success, Or Financial Doping.
“Not At All,” He Replied,Adding: “It Was Proven In the End It Wasn’t An Illegal Tax Scheme.”
Sectarianism,Steel And Sir Sean Connery
Sir David Made His Name In The Steel Industry, Forming The Company Murray International Metals Limited By The Age Of 23.
In 1988, He Purchased Rangers For £6m And Went On To See The Club Win 15 League Championships And 20 Domestic Cups.
He And Manager Graeme Souness Signed The Club’s First High-Profile Catholic Player Since World War Two – Mo Johnston, Who Previously Played For Celtic – In 1989.
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