COISTY’S GOLDEN DEAL
RANGERS would have had to pay Ally McCoist an “enormous” sum if they did not make him manager, Craig Whyte’s fraud trial heard yesterday.
And the club’s former star striker signed a gold-plated contract to take over from
mentor Walter Smith while the club’s financial situation was “perilous”, the court heard.
Former boss Smith was called as the first witness in Whyte’s trial. He denies two charges relating to his 2011 takeover of the Ibrox club.
Donald Findlay QC, defending, told the court that if McCoist did not take over from Smith as manager it would cost the club an “enormous” amount of money.
The sums involved were not revealed in court but Smith was shown the document.
Findlay said: “Somebody has put the club in a position that if they don’t follow the line of succession it is going to cost the club a small fortune.”
Smith said: “I had no idea that was the case.”
Findlay said: “Extraordinary isn’t it?” Smith said: “Mr McCoist obviously negotiates his own contracts, so he’s possibly a bit brighter than I am.”
Later, McCoist told the court the managerial contract was put in front of him and he was asked to sign it by Martin Bain.
Bain was the chief executive of the club and had been righthand man to Sir David Murray, who sold Whyte the business.
Findlay put it to McCoist that it was unusual that the former owner’s chief executive was asking him to sign a contract. Findlay said: “Does that not strike you as a bit odd?”
McCoist replied: “Well, when you put it like that it might not seem the norm, but I’m not 100 per cent sure when I put pen to paper.”
He confirmed he had had no discussions with Whyte about the terms of that contract, despite Whyte being the owner.
The trial, at the High Court in Glasgow, continues.