For six hours the leading lights of our game met at the National Stadium. Thousands of fans waited to hear what view would be taken on important matters regarding financial fair play and the voting structure. This meeting was arranged as a result of the adjournment of the meeting last week and the outcome wasanother delay.
The press release that followed shed little light on the discussions that occupied the representatives for the day. There was no representative from Rangers at the meeting yet their request to postpone the decisions was agreed. Is this an example of the tail wagging the dog?
The SPL press release follows:-
The Administrators of Rangers FC did not attend today’s General Meeting in person and instead submitted a proxy.
Financial Fair Play
Immediately prior to today’s General Meeting, a written request was received from the Administrators of Rangers FC to adjourn the meeting dealing with financial fair play.
The other 11 clubs agreed with this request and the general meeting was adjourned to 10am on Wednesday 30 May 2012.
The 11 member clubs present in person at today’s General Meeting unanimously called for the power to deal with any newco application to be moved from the Board to the clubs. This requires 21 clear days’ notice. The clubs will therefore meet again on 30 May to consider a resolution designed to achieve this.
In the event that an application for transfer of share to a newco is received before 30 May, then it can be dealt with by the SPL Board. The SPL Board have indicated that they would, in those circumstances, call together the clubs before any such decision was made.
For the avoidance of doubt, no decision on any transfer of a share to a newco has yet been made; nor has any such application been received.
At the request of the Administrators of Rangers FC, the separate adjourned General Meeting to deal with possible changes to rules of voting was also adjourned to 30 May.