Concerns about the Rangers Charity Foundation have been raised with the Office of the Scottish Charity Regulator, after the charity said it had agreed to let Rangers Football Club, which went into administration last month, keep most of its share of the proceeds from a "charity match" between the team and past legends from AC Milan.
Organisers billed the event, which will take place on 30 March, as the "AC Milan Legends charity match and dinner".
The former Italy internationals Franco Baresi and Paolo Maldini are expected to appear for the Italian side, and Paul Gascoigne and Ally McCoist are due to represent Rangers.
The event was originally due to raise money for both teams’ charitable foundations.
However, a statement on the charity’s website says: "The Rangers Charity Foundation has offered to forgo the majority of its share of the proceeds following the crucial support the charity has received from the club over the last 10 years and funds raised will help secure the future of the Rangers, which is vital at this time."
A spokesman for the OSCR said the regulator had been made aware of concerns about the statement, because it raised the issue of whether the charity was acting in the best interests of beneficiaries. However, he declined to comment on whether the OSCR had opened an investigation into the case.
The charity told Third Sector in a statement that before the club went into administration the charity was due to receive 60 per cent of the net profits from the event, and that it would now receive 10 per cent of the net profits.
The statement said the club, not the charity, was responsible for organising and funding the event. "After Rangers Football Club went into administration it became clear that the club may not be in a position to facilitate the activities on behalf of the foundation as this would be contrary to the needs and priorities of the club at this time," it said.
"Clearly, the Rangers Charity Foundation would have been unable to deliver these activities without the club’s permission and support.
"The cancellation of the activities would of course have resulted in no benefit to charity whatsoever," it said. "The foundation did not come to this decision alone but is grateful that the club has decided to organise the activities and allow them to proceed."