Sir David Murray says sorry over sale of Rangers to Craig Whyte

Sir David Murray, the former owner of Rangers, has expressed regret for his role in the financial crisis that afflicted the club over a decade ago. Selling the Ibrox side to businessman Craig Whyte for £1, Sir David oversaw the club providing £47m in tax-free loans to players and staff from 2001 to 2010. The Rangers business went into liquidation under Mr Whyte’s ownership in 2012, just a year after the sale. In an interview marking the release of his autobiography, “Mettle,” Sir David conveyed his apologies to fans and club employees.

Acknowledging his mistakes, Sir David expressed his remorse, stating, “I’d hope in hindsight, they look at the facts and think I was put in a very difficult position.” The controversial ‘big tax case’ revolved around the club’s use of Employee Benefit Trusts (EBTs). HMRC contended that the payments made to players, managers, and directors through EBTs should have been taxable. Despite previous tribunals siding with Rangers, the Supreme Court ruled in favor of HMRC after an appeal in 2015, amidst the club’s financial turmoil.

Prior to his involvement with Rangers, Sir David cultivated his success in the steel industry, founding Murray International Metals Limited at a young age. His tenure at Rangers saw the club secure numerous league championships and domestic Cups, where he also played a role in signing the club’s first high-profile Catholic player since World War II. Regarding sectarian issues in Glasgow, Sir David criticized the continued singing of sectarian songs at Ibrox, denouncing it as unacceptable.

Further reflecting on his career, Sir David delved into the sale of two steel processing plants in Lanarkshire to businessman Sanjeev Gupta, which was supported by a £7m package from the Scottish government. Criticizing the government for rejecting his bid due to potential state aid rule clashes, he also questioned the industrial policies of both Scottish and UK governments. Additionally, Sir David detailed his harrowing experience of losing his legs in a car accident and highlighted his friendship with Sir Sean Connery, reminiscing about visiting Dunblane together after a tragic incident in the town

Read the full article from The BBC here: Read More