Murray: 'I have apologised to Rangers fans for selling club to Craig Whyte'
Former Rangers owner David Murray says he has apologised to fans for selling the club before it collapsed into financial ruin.
Sir David sold the Ibrox side for £1 to businessman Craig Whyte, and was at the helm when Rangers gave £47m in tax-free loans to players and staff between 2001 and 2010.
The HMRC brought a case against Rangers centring on the club's use of Employee Benefit Trusts (EBTs), which were also used by other clubs.
The EBTs enabled the club to pay players, managers and directors through the tax-free loans, but HMRC argued the payments were earnings and should be taxable. Getty Images Craig Whyte leaves court surrounded by police on September 2, 2015 in Glasgow, Scotland.
Two tribunals – in 2012 and 2014 – ruled in Rangers' favour. But the Supreme Court found in favour of HMRC after an appeal in 2015.
The club had been bought in May 2011 by Craig Whyte after Sir David initially struggled to find a buyer willing to take on a potential 'big tax case' bill.
Mr Whyte was later cleared of fraud in relation to the takeover.
Under Whyte's ownership, Rangers went into liquidation in February 2012 less than a year after the sale. Ewen Cameron/Up Next Studios Former Rangers owner David Murray says he has apologised to fans for selling the club before it collapsed into financial ruin.
The tipping point for administration was a £9m tax bill due to HMRC, and total debts reached more than £100m.
The club was admitted to the third division of Scottish football.
Murray, speaking to broadcaster Ewen Cameron and Up Next Studios, said he has apologised to Rangers fans and staff for his part in the collapse.
'I have apologised, but I did a lot of good things for the club. If you want to remember the negative, that's their choice,' he said.
When asked if the EBT scandal led to Rangers' downfall, he answered: 'That plus Craig Whyte.
'The interpretation of the EBT by HMRC and Craig Whyte… I think they could have survived the first one but not the two put together.'
He added: 'Craig Whyte was a mistake – I'm prepared to admit that. But on the evidence of the money, what he was going to do, it seemed the only course of action.'
Sir David continued: 'I was disappointed for the fans first of all and I was also so disappointed for the people that worked there – people who had been so loyal to me – and all of a sudden their jobs were in jeopardy.
'How many plates can you spin? The average Rangers fan doesn't care about my other businesses – but so many in Scotland – a joiner in Fife a haulage firm in Melrose – were affected by the banking crises.'
Sir David's autobiography Mettle is out on Monday, and all proceeds will go to the Erskine Charity.
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