SFA claims Rangers will have to provide 'full disclosure' on new owners

Scottish footballing authorities claim that Rangers administrators will have to provide "full disclosure" on the takeover consortium led by Charles Green.

On Wednesday, during their annual general meeting at Hampden, the Scottish FA (SFA) members unanimously approved a resolution addressing the change of control at football clubs.

After the vote, SFA chief executive Stewart Regan claimed the new resolutions would regulate those attempting to buy football clubs, and are aimed at determining whether they are "fit and proper" individuals to be involved in the game.

Mr Green’s Sevco consortium has put forward an £8.5m loan to pay the club’s administrators Duff and Phelps, as well as offering creditors a pence in the pound deal that will be voted on next week.

He has so far stated that his group is made up of 20 "individuals and families" from across the world, and named Malaysian hotelier Jude Allen, also known as Javed Abdullah, and Middle Eastern lawyer Mazen Housammi as being involved in his consortium. Stockbroker Imran Ahmad, of London-based group Zeus Capital, has been named by Mr Allen as the "financial adviser" to Sevco.

Mr Regan said: "It is important that club owners take more responsibility to ensure that they sell their club to an individual or individuals who act responsibly and within the rules of football.

"The Scottish FA governs the whole of football and rather than spend millions of pounds on investigations into any number of prospective purchases across the game at all levels - which would be better kept within the game - it is important that the onus is on those involved in the sale of the club."

Recently Rangers owner Craig Whyte was banned for life from holding a position in Scottish football by the SFA for bringing the game into disrepute from the time he acquired the club last May until administrators were called in on February 14.

The club was also fined £160,000 and hit with a 12-month player signing ban as a result of the SFA judicial panel decision. Rangers unsuccessfully attempted to overturn the embargo through the SFA's appellate body, before it took the matter to the Court of Session where Lord Glennie ruled that the punishment was not legitimate. Now, the matter has been referred back to the SFA's appeal tribunal.

The video is of Mr Regan's media conference in full following the SFA meeting.

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