Sevco Scotland Ltd have agreed to the imposition of a 12-month registration embargo on Rangers newco as a condition of their application for membership of the Scottish Football Association.
In return for the transfer of the membership, Herald Sport understands Sevco Scotland Ltd have also agreed to pay all outstanding fines, football debts and court costs, even if a club statement last night claimed no agreement had yet been reached.
The registration embargo will begin on September 1, allowing Ally McCoist to add to his meagre squad in the coming weeks. Rangers will then be unable to sign players aged over 18 until August 31 next year. Although that date falls on a Saturday, Herald Sport also understands that the transfer window will not be extended to Monday, September 2, and so Rangers could only sign out of contract players until January 2014.
The agreement will now be ratified by an Independent Appellate Tribunal, likely to be convened early next week. Once granted membership, Rangers will be able to take their place in the Ramsdens Cup – with the opening tie against Brechin City in eight days – the Scottish Communities League Cup – in which they play East Fife the next weekend – and the third division, which kicks off on Saturday, August 11 with an away trip to Peterhead.
The registration embargo was imposed last April by an independent disciplinary tribunal, then upheld by an Appellate Tribunal. Rangers challenged the penalty at the Court of Session, since it was not on the list of available sanctions to the original tribunal, with Lord Glennie ruling in Rangers' favour and calling for the Appellate Tribunal to be reconvened.
With Rangers having now agreed to accept the embargo, the tribunal will meet to ratify the decision, although two of its original members – Lord Carloway and Craig Graham, of Spartans – have stood down. Sevco Scotland have also agreed to pay the £160,000 fine imposed for breaches of the rules under Craig Whyte's ownership, and to accept any other sanctions that arise.
"It has been agreed with Sevco Scotland Ltd that the registration embargo will be accepted as a primary condition of a transfer of membership," read an SFA statement. "It is necessary to complete the judicial process following the determination by Lord Glennie in the Court of Session that required the Independent Appellate Body to revisit available sanctions relating to Oldco, having been found guilty of bringing the game into disrepute.
"Sevco Scotland Ltd have also undertaken to accept all other outstanding conditions relating to oldco's charges. The Scottish FA has also received the financial information requested and this is being considered as part of the application process."
Sevco Scotland Ltd received a further financial setback yesterday with clarification that FIFA have granted international clearance for the free transfers of Jamie Ness, Kyle Lafferty, Stephen Naismith and Steven Whittaker. Charles Green, the Rangers chief executive, had claimed the club was due compensation.
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