SPL clubs have voted not to introduce fixed punishments for clubs reforming as a newco but instead sanctions will be decided on a case by case basis.
The 12 clubs have voted not to have fixed penalties for newcos. This could be good news for Rangers should a CVA not be agreed and they have to set up a newco. Original proposals would have seen Rangers being docked ten points at the start of next season and the following two seasons.
But new rules will see a penalty for clubs going into administration of whichever is greater – 10 points or one third of the previous season’s total. The following key points where decided at the meeting:
*Minimum of 10 points deducted from any club entering administration.
*Extension of the sporting sanctions regime when SPL club’s parent company enters administration.
*Updates and extensions to the definition of insolvency events to track changes in insolvency law.
*Requirement for clubs to pay players and HMRC on time and to report any failure to either
pecific sanctions for clubs who fail to pay players/HMRC on time.
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