Uefa Retain Faith In Rangers Despite Financial Insecurities

By iSportconnect | April 13, 2012

Uefa, European football’s governing body, remain confident Glasgow Rangers can come out of their financial decline by maintaining a close relationship with the Scottish authorities.

 

in a statement, Uefa stressed that issues regarding club licensing and financial fair play falls under the authority of the Scottish governing bodies.

It said it was aware of the “difficult financial situation” at Ibrox.

 

Duff & Phelps have been dealing with the club’s administration and have delayed naming a preferred bidder.

 

Uefa said it has “been in close contact throughout with the Scottish FA and the administrators of Rangers FC, in order to explain the club licensing and financial fair play rules and how they would apply in different possible scenarios”.

 

“Such a situation falls under the authority of the national governing bodies responsible for evaluating and deciding on any necessary measure(s) they estimate appropriate to avoid similar cases occurring in the future.

 

“Uefa is entirely confident that the Scottish FA will deal with this case in full compliance with the national club licensing regulations and in the spirit of Uefa’s club licensing and financial fair play regulations.”

 

Duff & Phelps says the announcement of the suggested new penalties has caused “a delay in the sale process”.