Gordon Smith believes Rangers have been punished enough for the actions of Craig Whyte.
The former ‘Gers striker was appointed by Whyte to the role of director of football in June 2011 before leaving the post in February 2012 saying he wasn’t able to do his job.
The Glasgow side are currently being run by administrators and though potential owner Charles Green will pursue a CVA, the fallback exit strategy is a newco scenario.
Representatives from all Scottish Premier League clubs are expected to vote next week on financial fair play rules that would see sanctions imposed on any newco club.
But Smith, who was also previously chief executive of the Scottish FA, says the Ibrox club shouldn’t be punished for the actions of individuals.
Earlier this week, Kilmarnock chairman Michael Johnston warned against hitting a potential ‘newco’ Rangers with tough sanctions and it’s a view Smith sympathises with.
He said: “I don’t see why in terms of the club being punished going forward because maybe mistakes have been made by individuals.
“Whether it was accidental or deliberate these are people that have done these things and I know a lot of people would like to see the club punished but at the end of the day I think Scottish football needs a good, strong Rangers and Celtic.
“I’d like to see every team get all the help they can get when they are in financial trouble.
“I think there’s definitely a case of, if rules have been broken then there has to be sanctions for it.
“It depends whether the rules have been broken deliberately to try and gain an advantage or whether it’s administrative problems.
“Sometimes when I was at the SFA that was the case, it was just purely error rather than deliberate so you have to take that into account.
“And the sanctions should be based on the strength of what’s happened and the mistakes that have been made.”
While the future of the club remains unclear, Smith remains hopeful a CVA can be agreed.
He added: “It’s hard to say [what the future holds]. What we are really waiting on now is the finality in terms of whether it’s a CVA Rangers come out with or whether it’s a newco.
“Everybody has been saying for quite some time a CVA is the route they want to see. “The fans want that and I think the players probably do too so let’s hope that can still happen.
“It’s just down to whether that can still happen in the right timescale, that people have got the money to have it accepted and that the creditors will take the offer that they get.
“And if that happens then hopefully everything will be settled on that basis.”
People who read this story also read
- Rangers launch legal challenge to SFA registration embargo
- Friend pays tribute to Tommy Burns at golf tournament named in his honour
- Carlos Bocanegra says he won’t take another pay cut to stay with Rangers
- Online Writers' Player of the Year - The Countdown
- Keith Lasley: 'Fans helped make up my mind to stay with Motherwell'