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Whyte Breaks His Silence

27 Feb 2012 18:50:10

Whyte Breaks His Silence

When you are a multi-millionaire I suppose £50,000 can be described as irrelevant

Rangers owner and chairman Craig Whyte has dismissed the fine of £50,000 by the PLUS Stock Exchange  as 'irrelevant'. The fine was handed out after the club  failed to disclose Whyte had previously been disqualified for being a director. He said: "This is really irrelevant to any other issues going on at the moment." Looking at the 'other issues'  Whyte was at pains to deny reports of millions of pounds being unaccounted for but admits there will be "more pain" to come for Rangers and their fans. The club's administrators, Duff and Phelps, previously hinted funds raised by future season ticket sales failed to reach club coffers and was instead paid to another of owner Whyte's companies. Whyte wants to assure fans all money due to the club has indeed 'been accounted for', something he believes the administrators will verify. Whyte went on: "There will be absolute clarity from the administrators. There are no missing millions. There has been some outrageous and malicious reporting, particularly in the Scottish media. I can assure Rangers fans that every penny going into the club has been accounted for and will be accounted for." Rangers were docked 10-points for going into administration which means they are effectively ruled out of this season's title race, but Whyte believes the club will emerge a stronger entity down the line. He says he has no plans to walk away from  Ibrox and is letting the administrators work as hard as possible to resolve the club's problems. He went on: "I don't walk away from anything. I'm in regular contact with the administrators. I'm working at hard as I can to help resolve the issues and make sure Rangers come out stronger on the other side of this. I'm in regular contact with them. I'm here to work with them and get the issues resolved. It's a huge challenge. I took that challenge on. I'm not walking away from it and that's what we're working on right now. Rangers are a massive business and brand. They've got the best supporters in the world and together we'll get through this. I've been a stand-up guy ever since day one when I bought Rangers back in May last year. I took on a club with huge financial difficulties. I've been working ever so to solve these financial difficulties. I would hope like every other Rangers fan that we get out of it (administration) as quickly as possible, but I can't put a timescale on that at the moment. Although we're going through a very, very painful process at the moment for all Rangers fans, it's a process that's really is absolutely necessary and we will come out the other side of this and we will come out the other side of this as a stronger more sustainable business." Although he did not say what had been discussed with the club's administrators, Whyte has denied talk that he is not talking to them. He said: "I'm not going to go into private conversations that I have with the administrators at this moment in time. They're in there. They've got a job to do. They are working very hard to get through the many issues that have to be resolved to get us through to the other side. The administrators are working to sort the issues out and get Rangers out of the other side of this process. I said two weeks ago now that this was the beginning of the end of the uncertainty that's been hanging over Rangers for years now. We're still in that process. It's very, very painful and we all feel it as Rangers fans. What I can say is that we will get through this and we will be stronger in future." With rumours that the administrators will be announcing redundancies this week, Whyte was unable to put an exact figure on the number of departures.  He said: "I'm not aware of exactly what the plan is there, but I would hope like every other Rangers fan is that it's kept to a minimum, but what I will say is that there will be more pain and the administrators are acting in the best long-term interests of the club."


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