25 May 2012

Time to strip Sir David Murray of his knighthood?

A devastating BBC Scotland documentary - still available on iplayer - on the financial shenanigans at Glasgow Rangers suggests that ex-Chairman, David Murray received more than £6 million - tax free - from an Employee Benefit Trust (EBT).

Rangers are estimated to owe the taxman in the region of £70 million as a result of their use of EBTs and the adminstrators are looking at a deal that might see the taxman (ie you and me) get just £700,000 back.

So Sir David's £6+ million would make a big difference to the creditors.  Perhaps the threat of removal of his title (as with that other fallen Scottish knight 'Fred the Shred') might concentrate his mind.

Incidently, David Murray is on record as saying he didn't take a penny out of the club during his 20 odd year ownership.

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