Steven Naismith tells how administrators of insolvent Rangers rejected £2m West Brom bid for him

Mr Naismith, who joined Rangers in the summer of 2007 for £1.9m and went on to win three consecutive league titles said that when the club had gone into insolvency in February, 2012, a move away from Rangers was an attraction.

The 34-year-old Hearts captain's comments came as the liquidators of Rangers oldco BDO sue Paul Clark and David Whitehouse of Duff and Phelps for £56.8m claiming a seriously flawed strategy in raising money for the thousands owed millions after the business collapsed under the ownership of controversial owner Craig Whyte.

One of their concerns is that not enough was done to sell players to cut the club costs while in administration.

The BDO action comes after the Rangers business fell into administration in February, 2012 and then liquidation leaving thousands of unsecured creditors out of pocket, including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox. It was eventually sold to the Charles Green-fronted Sevco consortium for £5.5m.

West Brom had sought dispensation to buy the striker outside of an official transfer window soon after Rangers under Craig Whyte stewardship became insolvent.

The Court of Session has previously been told that Mr Naismith had a £2m release clause and was on around £20,000 a week, and other senior players took 75% pay cuts in February 2012 when Rangers went into administration, which allowed younger players on lower wages and other staff to take smaller pay cuts.

Mr Naismith said it was a “big deal” for him to ensure non playing staff did not lose their jobs in order to stop Rangers from going bust.

The chief executive of the Scottish Professional Football League Neil Doncaster had previously said he expected the administrators to have sold or at least tried to sell any players of value after the club went into administration nine years ago.

READ MORE: Rangers administrator admits inappropriate talks with Craig Whyte described as 'like lads in the pub'

Mr Naismith, a Scottish international with 51 caps, told the court: "It is hard to remember the exact details of events nine years ago. What I vaguely remember is that the then English Premier League team, West Bromwich Albion had made an approach to Rangers to sign me, and it had been rejected by the administrators. Hence, I had no decision to make."

Everton ended up signing Mr Naismith in July, 2012,as he was allowed to leave on a free transfer after he rejected a contract transfer from oldco Rangers to the Sevco-owned newco.

Kenny McBrearty QC for BDO said: "If we just think about where you are in March and April 2012, you say there was a period of uncertainty with Rangers. You were injured at the time. You had an anterior cruciate ligament injury and an offer had been there from West Brom, you can assume that it was an offer that was structured in a way that would have allowed you to go and train with West Brom for the rest of the season, and only play with them once the registration window opened up again in June or July, do you follow me?"

Mr Naismith said: "Yeah, if they were making bids and they wanted it to happen then, then that's the only way it could be done."

The QC added: "If you had got to the stage of discussing personal terms, then what we've heard is that you would have been offered something in the region of up to 50% more than you were getting at Rangers in financial terms. And I think it may be that West Brom were under the impression that you were earning more at Rangers than you actually were from the evidence we've heard so it may be that they're 50% was actually from a higher starting point than you were on at Rangers, does that makes sense?"

The former Rangers star said: "It makes sense, yeah."

READ MORE: Rangers administrator said a fans bid for the club would be 'akin to herding cats'

Mr McBrearty added: "So, if you'd had an offer from West Brom, you would have been looking at potentially a significant increase in wages, it would have been structured in a way that would have allowed you to go and train with West Brom and play when the new [transfer] window opened. It would have brought you to the Premier League, which presumably would have been an attraction."

Mr Naismith replied: "Until the uncertainty, it wasn't an attraction. As the uncertainty unfolded, it was an attraction."

The BDO QC went on: "If you had an offer at the time to go in March or April, while you're injured, and your stock's rising, I suppose it would have solved uncertainty for you to the extent that you know you would have had a deal in the Premiership at a time when you're still recovering from injury and it takes away any uncertainty about waiting till the summer and seeing how you recover from injury."

Mr Naismith said: "I would agree it could take [away] the uncertainty, but I wouldn't say that was where my mindset was at the time."

Mr McBrearty added: "If you think back to March or April 2012, you wouldn't have known at that stage, whether Rangers was going to end up in a situation where you would be able to leave as a free agent, you follow me? That would simply have been an unknown for you in March and April."

Mr Naismith said:"Yeah, it wasn't a thought that any of us had that it would go as far as it did, if I am honest."

An email sent to the administrators said that West Brom's offer in March, 2012, would mean he would join during the following summer transfer window, meanwhile the insolvent club would save on wages for April, May June and July.

Dan Ashworth, who had been West Brom's sporting and technical director told the administrators in an email: "WBA take on player wage liability but obviously cannot play him until after the window re-opens...."

Mr Ashworth, who is now Brighton and Hove Albion's technical director had told an earlier hearing that the club had wanted to get things done "early" because they thought there would be interest from other clubs during the official summer transfer window.

Without the release clause, and within a normal transfer window, he estimated Naismith had been worth £4-5m.

He said in his email: "The player is injured and cannot play this season. With the wage savings, cash guaranteed and up-front three to four months early and a guaranteed sale gone through, I feel this is a very attractive deal.

"If this offer is turned down we will save four months wages, see if the player rehabs effectively and pay the clause in July or more onto another player."

Mr Doncaster in an earlier hearing said that he was "surprised" that having been offered money for striker Steven Naismith that the administrators did not sell him, "especially because in the circumstances where a sale of the business and assets of the company was pursued, there was always a risk that [the player] would not generate any return at all because he would have been free to refuse a transfer of his employment contract to a newco."

An earlier hearing heard that while just ten of the star players including striker Steven Naismith, goalkeeper Allan McGregor, midfielder Steven Davis, and defender Steven Whittaker were valued at £21.35m after the club went into insolvency  - they ended up being bought for just £2.75m as part of Sevco's £5.5m purchase. BDO's representatives described that as "some way short".