May 17 (Bloomberg) -- Glasgow Rangers had its appeal against a yearlong transfer embargo and 160,000-pound ($255,000) fine rejected by a Scottish Football Association tribunal.
The governing body had charged the club with six breaches of its rules and banned previous owner Craig Whyte from Scottish soccer. Rangers argued that the club shouldn’t be held responsible for Whyte’s actions.
The tribunal will give full reasons in writing for rejecting the appeal “in early course,” the SFA said in a statement late yesterday. Duff and Phelps, the company running the club while it’s in administration, a form of bankruptcy, said in a statement that the 54-time Scottish champion intends to challenge the tribunal’s ruling.
Duff and Phelps said four days ago that it had accepted an offer to purchase the club from a group led by former Sheffield United Chief Executive Officer Charles Green. The group has secured a period of exclusivity to complete the purchase, which should happen at a meeting of creditors on June 6.
“Our group went into the purchase of the club with this sanction in place but we hoped the decision would at least be commuted,” Green said in a statement last night on Rangers’ website. “We fully support the club as it considers an appeal against this latest decision.”
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