Rangers Administrators Take Ticketus to Court Over Season Ticket Sales

By Community | March 15, 2012

Glasgow Rangers administrators are taking Ticketus to court to seek permission to breach the £24.4m deal for season ticket sales struck by the SPL team’s owner Craig Whyte.

Duff and Phelps have raised the action at the Court of Session in Edinburgh, which is scheduled to last two days, starting on Thursday morning.

The administrators believe are seeking legal permission to breach the deal for four years’ future season ticket sales. This action does not mean Duff and Phelps are questioning whether or not the agreement is legally binding, but the insolvency firm are seeking the court’s approval to not pay Ticketus the money earned from season ticket sales until 2015.

If the request for the breach is allowed, Ticketus would become creditors that the administrators would need to include in any company voluntary agreement needed to bring Rangers out of administration.

The consequences of the court move could also have ramifications for the Blue Knights takeover consortium. The company is backing the bid fronted by ex-Rangers director Paul Murray, but should it become a creditor rather than a stakeholder at Rangers, its involvement in the consortium may change.

Administrators Duff and Phelps previously stated the remainder of the Ticketus money had not touched the club’s accounts, while they have also said they were looking into the “validity” of Mr Whyte’s position as majority shareholder as he does not appear to have put any of his own funds into the club.

by Ismail Uddin