Banstead Athletic....

[Darthter 542]

Banstead Athletic....anyone remember them.

 

For some reason, they popped back into my head last night, and the money that was supposedly paid to them - £250k.

 

Dug out this article from the DR:

Rangers chief Craig Whyte in bizarre link-up with English minnows Banstead Athletic.. average crowd 30

 

7 Feb 2012 00:00

EXCLUSIVE: Embattled Rangers chief Craig Whyte is supporting a new club... English non-league minnows Banstead Athletic.

 

 

 

EMBATTLED Rangers chief Craig Whyte is supporting a new club... English non-league minnows Banstead Athletic.

 

The bizarre tie-up was confirmed by one of their sponsors â?? a long-standing business associate of the Ibrox supremo.

 

Aidan Earley claimed Whyte hoped to groom future stars through Banstead, who play in front of crowds of around 30 in the Combined Counties Premiership in Surrey.

 

Venture capitalist Earley â?? who was bankrupted at the age of 22 â?? said: â??The context in which you refer to me is a possible involvement of Rangers with Banstead Athletic Football Club.

 

â??This is a project for developing young talent and has been two years in the making.â?

 

Earley, 44, and his brother Wulstan, 49, are involved with various firms operating under the Regenesis name â?? one of whom act as Bansteadâ??s shirt sponsor.

 

Whyte supported Bansteadâ??s plans for a £3million scheme to buy their ground from the council. The deal, brokered by Aidan Earley, involves raising funds by floating the club on the stock market.

 

Despite being based more than 400 miles away, Whyte personally sent Reigate and Banstead Council a letter backing his friendâ??s development plans, admitting his hope to tap into a future talent pool.

 

Earley referred us to his barrister, David Simpson, who said: â??The fact that Rangers are interested in this project is a source of immense satisfaction.

 

â??Indeed, your readers might find the truth heart-warming. Although Rangers are committed to their Scottish youth academy, their interest in the project is derived from their intention of positioning themselves to benefit from the talent developed south of the border.

 

â??This is a positive development for the prospects of home-grown talent and the exposure of Rangers to that.â?

 

Earley denied Rangers had provided any funds, while the SPL giants refused to discuss whether they were involved with Banstead.

 

But Banstead Councilâ??s Kathy Oâ??Leary said: â??I have no knowledge of Craig Whyteâ??s money being involved with the redevelopment but I can confirm he wrote to us to express his support.â?

 

Banstead chairman and owner Terry Molloy claimed he knew nothing of Whyteâ??s involvement. He added of Aidan Earley: â??We are just a small club and Aidan is a small part of it.â?

 

The Earley brothers are friends of Whyte and have been co-directors in some business ventures. Aidan and Wulstan are brothers of Brendan Earley, who died recently.

 

He was Whyteâ??s right-hand man with Vital Holdings. It was dealings under the Vital Holdings banner that led to Whyte being banned as a director for seven years in 2000.

 

Rangers have been embroiled in a cash crisis and on ongoing case with the taxman could cost them £49million and send them into administration. Last night, an Ibrox source told us: â??Nobody here has heard of Banstead Athletic, and that includes Ally McCoist.

 

â??People are scratching their heads about the sense in getting involved with a backwater team. If Rangers want to invest in youth, they have their own academy.

 

â??If they want some kind of exchange set-up, would it not be better to get into a relationship with Real Madrid or AC Milan than Banstead Athletic?â?

 

The date of the article - 7th February 2012

The date of the payment (from another article) was around August time.

 

Banstead always denied ever receiving the cash as it was paid to one of Earley's companies which was a sponsor of Banstead.

 

We have also been told recently that Whyte (and possibly Earlel) allegedly stumped up £135k+ (approx) to help CG's takeover bid (yet to be proven beyond doubt)......could it be that once again, Whyte used the club to effectively buy itself again???

[sannybear 0]

I reckon he used the Arsenal shares money .

[Darthter 542]

The main reason that the Banstead thing stuck out for me was the Aiden Earley connection.

Originally all connections between Earley & Whyte were denied.....now it looks very much the opposite. Couple that with the fact that the Bandstead money went to one of Earley's companies & not directly to the club & things really start to get fishy....

[forlanssister 3,062]

I reckon he used the Arsenal shares money .

 

That was 6 months after the Banstead money.

 

50% of the Arsenal shares money has been paid to the administrators with a further 45% expected when the administration of Pritchards is complete.

[the gunslinger 3,366]

we probably got some of the money back through blue pitch.

[bluebear54 0]

Funny, that transaction crossed my mind too when the Earley brothers cropped up again. No doubt they're up to their neck. Hope they get dragged down with Whyte. By the neck.

Edited April 18, 2013 by bluebear54

[Zappa 0]

I remember the Aidan Earley section of that crap documentary made by Pacific Quay was actually quite interesting. Interesting in the sense that Earley seemed to be acting like a criminal and someone with something to hide.