Rangers Probe Finds No Evidence of Whyte Link to Current Owners

Rangers International Football Club Plc (RFC) said an investigation found no evidence that Craig Whyte, the owner of the 54-time Scottish soccer champion before it went into liquidation last year, had any involvement with the company that bought the business from the administrators.

There was no evidence that Whyte invested in Rangers Football Club Ltd. or Rangers International FC directly or indirectly or that he had any involvement with Sevco Scotland Ltd., the company behind the purchase, the Glasgow-based club said in a statement on the London Stock Exchange today.

The investigation, carried out by law firm Pinsent Masons LLP and overseen by Roy Martin, was set up after Whyte said he colluded with Charles Green, who headed the group that acquired the club for 5.5 million pounds ($8.3 million) from the administrators, to buy its assets.

Green resigned as chief executive officer of the club after Whyte’s allegations became public. Rangers will make a “robust response” to a letter sent two days ago by Whyte, the club said in the statement.

Rangers shares were unchanged at 56.5 pence at 8:47 a.m. in London trading.

Rangers went into liquidation last year over unpaid tax bills of more than 93 million pounds.

To contact the reporter on this story: Peter Woodifield in Edinburgh at pwoodifield@bloomberg.net.

To contact the editor responsible for this story: Douglas Lytle at dlytle@bloomberg.net. RFC LN <Equity>

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.