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Rangers' fall from grace: A brief history

2009 - It emerges Rangers owe up to £30million to Lloyds Banking Group.

It is also involved in a dispute with Her Majesty's Revenue and Customs (HMRC) over an employee benefit trust fund (EBT) which enabled tax free payments to players and staff between 2001 and 2010. It took the potential bill to £49 million.

May 6, 2011 - David Murray sold the club to Craig Whyte for a nominal £1. Whyte borrowed £26.7m against future season ticket sales from ticketing agency, Ticketus, before the deal.

February 14, 2012 - Rangers enter administration.

June 14, 2012 - Plans for the club to avoid liquidation using a Company Voluntary Arrangement (CVA) rejected by HMRC, meaning Rangers had to be liquidated. The club is sold to Charles Green's Sevco consortium.

November 20, 2012 - Rangers win the First Tier Tax Tribunal in relation to its use of EBTs.

February 2013 - Former judge Lord Nimmo Smith fines the Rangers oldco company £250,000 for failing to disclose to the Scottish Premier League all EBT payments.

February 2014 - An appeal against the decision of the First Tier tax Tribunal begins.

April 2014 - Rangers chief executive Graham Wallace confirms the newco club has mismanaged almost £70m.

Contextual targeting label: 
Football

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