Rangers fined £50k over Whyte ban

Glasgow Rangers owner Craig Whyte (EPA)

Rangers were fined £50,000 by the PLUS Stock Exchange yesterday, for failing to disclose Craig Whyte's previous disqualification as a director when the businessman completed his takeover in May last year.

Whyte was disqualified in 2000 for seven years but Rangers did not announce this until 30 November, six weeks after the Insolvency Service had confirmed the fact in a BBC documentary. The fine was issued after an investigation by the Stock Exchange, which suspended trading in the club's shares last month.

Regarding his disqualification, Whyte said: "That was disclosed as soon as I was made aware that it needed to be disclosed. It was always a matter of public record relating to events some 16 years ago. Really, this is an irrelevance with everything else that is going on."