"We are disappointed that we have lost this stage of the court process and we are considering an appeal,” said the HMRC when hearing the result of the First Tier Tax Tribunal (FTT). The long-awaited decision probably puts an end to the Employee Benefit Trust (EBT) saga that seemed to run forever, with the stance of former owner Sir David Murray - that the club used them properly - being upheld.

(For more background information click here.)

Those who tried to explain that this was not about innocence or guilt, but about how a tax scheme was administered, have also been been vindicated. Too many people had started to believe that what they were reading on the internet was fact when it was only conjecture. When guilt is already assumed to the extent that no other opinions can intrude, it becomes a hall of mirrors. That illusion is now shattered.

Of course, with the liquidation of the old company, it didn’t matter financially to Rangers whatever the FTT decided, except that - whether it's said officially or not - the future SPL investigation into Rangers' use of EBT's (and possible title-stripping sanctions) is closely related to the decision of the FTT.

How that will now proceed is hard to say. From the beginning there is nothing in this story that could have been predicted, but it's sensible to think the tax decision will take away much of the moral outrage that sustains those who would wish to see Rangers lose titles. If nothing else, the 'sporting integrity' mantra that many clubs used in their statements about the Light Blues now seem hollow.

Rangers seem to agree, and in a statement released on Tuesday said:

"The [FTT] judgment serves to further undermine the validity of the SPL Commission into the use of EBTs. As we have said all along, the SPL decision to press ahead with a commission was ill-timed and fundamentally misconceived."

With the possibility of a new 'cold war' between the SPL and SFL over league reconstruction, this decision puts the SPL on the back-foot just when they can least afford it.

The financial difficulties of clubs like Hearts, and doubts over long-term sponsorship deals are bad enough, but the increasing resistance from many within the Gers support to ever rejoining the SPL in its current format leaves the SPL in a perilous situation. It won't be openly admitted but they will eventually need Rangers within the fold.

However, if the Rangers fans believe the SPL has treated them badly now, how will they feel if the investigation goes ahead and takes trophies from the club, even when the official FTT has been won?

Non-Rangers fans may be aghast at anyone saying the SPL need Rangers, but it's true. If the league didn't need advertising and long-term media deals, then they could easily cope without the Ibrox club, but they do need them.

The Rangers-Celtic match and the Gers' huge fanbase bring in much-needed revenue, yet the SPL has allowed Charles Green and the supporters to be so disillusioned with them, that they are squarely behind the SFL and the astute leadership of David Longmuir.

It's a very strange strategy and there are a few clubs within the SPL now asking if the focus on Rangers was worth it. The problem for them is that even if they want a better relationship, it might already be too late.

Sandy Jardine

Finally, just a small note on the former Rangers player Sandy Jardine. It's a terrible shock to hear that he is being treated for cancer and I would like to wish him and his family all the best in this difficult time.

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