Maxwell details Scottish FA decision over Rangers takeover

The Herald Scotland

13 hours ago

Andrew Cavenagh and 49ers Enterprises had to go through the legal process due to the investment wing holding shares in English Premier League club Leeds.
The Scottish FA has granted permission for the takeover deal to go ahead without any issue, subject to written undertakings signed by club officials and the investing party.
The agreement means the investing party's interest in any other club does not preclude Rangers from participating in any UEFA competition they qualify for, among other commitments.
Chief executive Maxwell said: 'No, they've not been particularly complicated. To be honest, we've definitely been more open. Multi-club ownership is here. It's part of football.
'When you look across Europe, the number of clubs that are involved in some multi-club structure is growing by the day. We need to be part of that, why would you limit that investment?
'When you think about it was actually interesting when you start to think through the process and we had dual interest regulations, which meant that, when you're involved in a club, you can't get involved in a Scottish club unless we say yes.
'But someone like Tony Bloom, for example, is getting involved in Hearts and he has a track record at Brighton, understands football and already has Union SG and those other clubs.
'We actually make it harder for him to come into Scottish football than we do for someone who's just sold a company for £10 million that's got no understanding of the Scottish game. So when you actually get into it, you go that probably doesn't make a lot of sense.
'So our board are looking at it from two perspectives. Does it grow and develop the game? Will it generate financial investment into Scottish football? Does it give us an integrity issue?
'The integrity issue falls away because that would only happen if it was two Scottish teams playing under our jurisdiction, which it's not.
'The jurisdictional matter becomes a UEFA point and we've been clear in all the dual interests.
'All the multi-club investment models that we've done, we've been very clear that if there was, similar to a Crystal Palace scenario at the moment where there's a question mark about which one's going to play in Europe, it can't be the Scottish club that's the unintended consequence or has to step aside from European competition.
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Rangers follow Hibernian, with Black Knights investment, and Hearts, with Tony Bloom's prospective backing, as the latest club featuring in a multi-club ownership model.
For Maxwell, it's an overwhelming positive that new investors have experience across a number of clubs.
He added: 'The good thing is, because the vast majority of clubs that have came into Scotland have got other multi-club ownership models, they're used to that and when you speak to the guys involved in the Hearts deal they're very aware of what UEFA need and what UEFA want and how that structure needs to look to make sure we don't get ourselves those problems.
'So I think it's here, we can't ignore it and why would you want to step away from it? Why would you want to block investment coming into the game if it's going to be good for our clubs?
'The trick is that the club need to then go and spend that money as wisely as possible.
'We don't get involved in that bit, but from a board perspective there's definitely a willingness to look at anything that generates more investment into Scotland.'