Whyte takes action against BBC

20 October 2011 20:51
Rangers owner Craig Whyte has instructed his lawyers to begin legal proceedings against the BBC over allegations made against him.[LNB] A documentary, BBC Scotland Investigates: Rangers The Inside Story, explored Whyte's business dealings before he bought the Scottish champions.[LNB]The tycoon took over Sir David Murray's shareholding in the club in May.[LNB]A spokesman for Whyte said on Thursday night: "Craig Whyte strenuously refutes these unfounded and defamatory allegations and has instructed his lawyers, Carter Ruck, to commence immediate legal proceedings against the BBC.[LNB]"Any repetition of these false accusations will also be met with legal action."[LNB]Responding to the statement, a BBC Scotland spokesman said: "We stand by the investigation which was produced according to our rigorous editorial standards on fairness, accuracy and impartiality.[LNB]"As the programme BBC Scotland Investigates: Rangers The Inside Story makes clear, Craig Whyte took the opportunity to respond to questions which were put to him during the course of the production."[LNB]Earlier this week, Rangers withdrew co-operation with the BBC, with the Clydesdale Bank Premier League club describing the programme as "little more than a prejudiced muckraking exercise".[LNB]However, the BBC strongly rejected claims of bias against the club and insisted the content of the programme was accurate and in the public interest.[LNB]Speaking in an interview with STV earlier on Thursday evening, before the BBC documentary aired, Whyte defended his business record.[LNB]He said: "I'm sure the programme that's been made will no doubt make various allegations and it's maybe not going to be flattering about me but I've got nothing to be ashamed of.[LNB]"Ultimately, my track record speaks for itself.[LNB]"I'm here, I'm the owner of Rangers, I'm the chairman of Rangers and I've done a lot more successful deals than deals that haven't worked out. I think that ultimately speaks for itself."[LNB]Meanwhile, Whyte insists he is doing everything in his power to prevent the club from going into administration.[LNB]Rangers are involved in two separate disputes with HM Revenue and Customs, relating to payments before Whyte's takeover.[LNB]The larger of those cases could leave Rangers facing an estimated tax bill of £49million.[LNB]Whyte has always maintained he is confident of winning the case but did address the issue of administration in the interview with STV.[LNB]He said: "It's certainly not something we want to see happen and we are actively doing all we can to avoid it.[LNB]"There is no chance of Rangers going out of business, no chance whatsoever."[LNB]If Rangers do succeed with the dispute, Whyte has vowed to write off the club's £18million debt, which is currently on the books of his holding company.[LNB]He said: "It's not going to be converted to equity which would dilute the other shareholders of Rangers.[LNB]"We've got 26,000 shareholders who are very important to us, they are all fans of the club, and I want to make sure they are not diluted in any way.[LNB]"The debt is effectively going to be written off.[LNB]"I own a fantastic asset and a business that, once it has been restructured, I think is going to be very valuable so it's certainly not an act of charity. I see it as a sound business decision."[LNB]Asked about plans to appeal if Rangers lose the tax case, Whyte said: "That's a decision that we can make at the time.[LNB]"What I will say is that I think it would be impossible for any business to operate with that level of scrutiny, with that tax debt hanging over it and tribunals going on for potentially months and years to come.[LNB]"I think it's better for everybody, better for Rangers and everybody involved at Rangers, that a conclusion is reached as quickly as possible."[LNB]Whyte acknowledges that the Ibrox club face a difficult chapter but is adamant he is the right man to steer Rangers through tough times.[LNB]He said: "There were many times when I could have walked away from it but I decided to persevere.[LNB]"Somebody had to do this, somebody had to take up the challenge and I think I can do that.[LNB]"There are days when there are challenges and it's tough but it's a privilege to be in this position, a privilege to own Rangers and be chairman of Rangers.[LNB]"There is a big job to do here and somebody has to sort it out and I'm the guy to do that."

Source: Team_Talk