14th Jan 2015 16:01
LONDON (Alliance News) - Rangers International FC PLC said Wednesday that it lost its appeal against the GBP250,000 Employee Benefit Trust Commission fine it was told to pay by the Scottish Professional Football League.
The club said it will now take the matter to arbitration.
The commission, which was established by the Scottish Premier League last year, found that Rangers Football Club had been making payments to an offshore Employee Benefit Trust and making undisclosed payments to players.
The Scottish football club went into administration under the weight of a large debt burden and UK tax demands, but has since been brought out, although it is still struggling with its finances and facing boardroom tussles.
Shares in Rangers are trading down 2.0% at 25.50 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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