[3] In 1985, the Lawrence Group increased its shareholding in Rangers to a 52% majority, following a deal with then club vice-chairman Jack Gillespie.
[4][5][6][7] During the late 1990s Murray increased the club's player transfer budget in an attempt to succeed in both domestic and European football.
[8][9] After Dick Advocaat became manager, Murray again sanctioned some large transfer spending on players such as Tore Andre Flo and Ronald de Boer.
[10][11] From the early 2000s, Murray employed an Employee Benefit Trust scheme to pay players, and other staff at board level, including himself.
This was disputed and was ruled upon by three judges at a First Tier Tax Tribunal; the verdict was announced on 20 November 2012, with Rangers winning the appeal.
[16] In November 2015, their appeal that the EBT payments made to Rangers employees were undeclared taxable earnings was upheld by all three judges.
[citation needed] On 13 February 2012 Whyte filed legal papers at the Court of Session giving notice of an intention to appoint Administrators.
[26][27] Entering administration meant the team was docked 10 points by the SPL, effectively ending its 2012 Championship challenge.
On 25 June 2012, the Crown Office asked Strathclyde Police to investigate the purchase of Rangers and the Club's subsequent financial management during Whyte's tenure.
[31][32][33] Charles Green also incorporated another company, Sevco 5088 Limited, on 29 March 2012, which lent some money to The Rangers Football Club Ltd in May 2012.
The Rangers Football Club Plc's SFA membership share was transferred to Sevco Scotland Ltd on 27 July 2012.
[29] On 14 June 2012, HMRC's formal rejection of the proposed CVA[41][42] meant that the company would enter the liquidation process.
[44] On the same day Sevco Scotland Ltd acquired various assets including Ibrox Stadium and Murray Park, as well as intellectual property, goodwill and various contracts.
[34] Towards the end of August 2012, it was reported that Arif Naqvi, chief executive of private equity firm Abraaj Capital, owned just under 18% of The Rangers F.C.
plc (RIFC), it was reported in an AIM announcement on 5 December 2012 that Charles Green owned a 14.9% shareholding in the club, with Newcastle United owner Mike Ashley having an 8.9% stake.
[66][67] After departing as Chief Executive, Charles Green sold his shareholding to Sandy Easdale, co-owner of McGill's Bus Services.
Easdale also held the voting rights for 20.94% of the company, giving him control of 26.15% of the issued share capital in total.