By Martin Kelly
BBC Scotland is facing the threat of legal action after Rangers administrators Duff & Phelps accused the corporation of making defamatory claims in a documentary about the financial affairs of Glasgow Rangers.
The London based company have consulted solicitors after the programme alleged that David Grier, a senior partner in Duff & Phelps, was actively involved in setting up the deal which allowed Craig Whyte to take over Rangers in May 2011.
The documentary, “Rangers: The Men Who Sold the Jerseys?”, also claimed that emails obtained by BBC Scotland indicated that Mr Grier was party to the Ticketus deal, and according to BBC Scotland, Mr Grier’s conduct constituted a serious conflict of interest.
However, speaking to STV, Mr Grier angrily denied the claims and accused the BBC of taking “snippets of information” which he claimed it had “put together to reach the wrong conclusion”.
Mr Grier said that his company had not been given all the information by controversial owner Craig Whyte and that legal action was now being considered.
BBC Scotland responded by saying that they “stand by their journalism” and claimed that Mr Grier had turned down an invitation to appear on their programme.
Claims of conflict of interest and failure to disclose pertinent facts against Duff & Phelps were made in a BBC documentary that was broadcast on Wednesday.
Craig Whyte funded his buyout of Rangers using money from London finance company, Ticketus, to whom he sold the rights to most of the next three years of season ticket sales. This represented more than half of the clubs income stream for those years, severely lowering the value of the club and stifling its cash flow.
It was lack of cash flow which caused the administrators to be called in on the 16th of February this year. Duff & Phelps were Craig Whyte’s choice of administrator and were appointed by a court without opposition.