Craig Whyte claims 'missing money' is still with Rangers

Rangers owner says financial problems are 'not of my making' in first comments on camera since club entered administration.

Craig Whyte: Financial claims in first television interview.
© SNS Group

Craig Whyte has claimed that millions netted from sales of Rangers season tickets and player sales are “still with the club”.

The Rangers owner was tracked down by STV as he entered the offices of Duff and Phelps, the firm that has been appointed as administrators for the Ibrox club.

In his first appearance on camera since the club went into administration, Mr Whyte claimed that his financial stewardship of Rangers would be vindicated.

Asked why had “misled fans” and kept secret a deal with Ticketus to sell future season tickets in return for £24m, he said: “I've bigger financial commitments to Rangers than anyone else and I'm working very hard to get Rangers out of administration.”

Asked where season ticket money and the proceeds from the sale of Nikica Jelavic was, he replied: “Every penny is in the club, every penny has been accounted for. All that will be confirmed in due course.”

After taking over the club administrators said that they did not have “visibility” of the Ticketus money and have since confirmed that the money did not go into Rangers’ books.

Instead they say it was used to pay off £18m of debt to Lloyds Banking Group, allowing Mr Whyte to complete his takeover of the club.

They said the remaining money was not with the club but was in the accounts of Mr Whyte’s solicitors Collyer Bristow.

There is understood to be a dispute over whether these funds should be released to Rangers.

Administrators are expected to announce on Friday the extent of cuts to staff and players at Ibrox.

Mr Whyte said: “I've got enormous sympathy for anyone about to lose their job but it's part of solving a problem that is not of my making."

IN DETAIL:

One account. All of STV.

This field is required. That doesn't look like a valid e-mail format, please check. That e-mail's already in our system. Please try again.
ShowHide
Forgot password?
This field is required. At least 6 characters please. Did you enter your details correctly?
If you've forgotten your details then use the 'Forgot password?' link.
Need to reset your password?

We'll send a link to reset your password to

We've sent you details on how to reset your password

Please check your email and follow the instructions.

Forgotten your email address?

Have you forgotten the email address that you previously joined with? Don't worry, by emailing enquiries@stv.tv we can help.

One account. All of STV.

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
At least 6 characters please
ShowHide
This field is required. At least 6 characters please.
You have to be 16 or over to join
This field is required. This doesn't appear to be a valid date
Type your full postcode and select your address This field is required. It doesn't look like you've entered a valid postcode. Can't find your address? Confirm the details you've given us are correct by clicking here

By continuing you agree to our Terms of Use, including our Privacy Policy and Cookie Policy. Any issues contact us.

Upload Profile Picture

Please make sure your image is under 2mb in size and a valid JPG, PNG or GIF.

Are you sure?

Unfortunately, you'll be unable to access our premium content. We’ll be sorry to see you go, but if you change your mind you can rejoin us at any time.

Please verify your STV account

Please verify your STV account using the email we sent you. If you have lost the email, we can send you another one, just click the button below.

Thanks

We've sent you a new verification email.
Please check your email and follow the instructions to verify your account.

Welcome to STV
Thanks for joining us.

Oops!

Sorry, you must be at least 12 years old to place a vote for your Real Hero.

Please review our Voting Terms of Use for more information.

Oops!

Sorry! It seems that you are using a browser that is incompatible with our voting service.

To register your vote please copy the below URL in to your regular mobile browser. We recommend Google Chrome, or Safari.

http://shows.stv.tv/real-heroes/voting

Oops!

Sorry, you seem to have already voted in this category.

Thanks for voting

Now share your vote with friends on your social network

Share on twitter Share on facebook

Cast your vote

Please register or sign in to continue.

Cast your vote

This field is required. This doesn't appear to be a valid date

Cast your vote

Please fill out this form to cast your vote. As you are under 16 years old you will not create an STV account. Why do we need these details?

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This field is required. That doesn't look like a valid e-mail format, please check.
Location This field is required.
Parental Consent This field is required.

That's you. All that's left is to click the 'Submit Vote' button below. By doing so, you confirm that you and your parent or guardian have read and accept our Voting Terms of Use, Privacy Policy and Cookie policy, and that the details you have entered are correct. We'll look after them as carefully as if they were our own.