Ruling due on Rangers’ EBTs

The SPL revealed the commission appointed in relation to “RFC 2012 Plc (now in liquidation) and Rangers FC and chaired by Lord Nimmo Smith” would publish its written decision at noon.

The probe centres on payments made through the Employee Benefit Trusts set up by former Rangers chairman Sir David Murray.

The three-man panel, which also features two QCs as well as judge Nimmo Smith, began hearing evidence on January 29.

The probe was launched before the original Rangers company was consigned to liquidation and the newco club refused to recognise or co-operate with the investigation.

Rangers called for the probe to be halted and warned that the ultimate sanction of title-stripping could see fans refuse to attend away games in future.

The SPL charge relates to rules that say all payments to players for football activities must be stipulated in contracts registered with the league.

Murray International Holdings won its appeal in principle against a tax bill surrounding the EBTs, with most of the payments deemed to be loans. Her Majesty’s Revenue and Customs have launched an appeal against the verdict.

The SPL initially launched the probe on March 5 last year and appointed the independent commission on August 2.