Rangers chairman Murray quits

David Murray has been with Rangers for 14 years

Rangers have announced that David Murray is stepping down as chairman of the club.

Murray's present understudy John McClelland will take over the reigns at Ibrox, while Murray will continue in the role of honorary chairman and maintain his major shareholding of 66 per cent.

The news, which was broken on the club website, states that Murray is seeking "a slightly more withdrawn position".

Murray has invested massively during his 14-year spell at Rangers and has been a major driving force behind the club's most successful period.

Under Murray's stewardship Rangers won 11 league titles, including a record-equalling nine-in-a-row.

Murray showed courage in crossing the religious divide when he made former Celtic striker Maurice Johnston Rangers' first major catholic signing.

I feel a change of management style would be beneficial for the club as the whole industry faces new challenges

David Murray

Many big name players were lured to Glasgow by Murray's millions over the years, including fans favourites like Terry Butcher, Paul Gascoigne and Brian Laudrup.

As for managers, Murray brought in Graeme Souness with immediate dividends then oversaw the appointments of Walter Smith, Dick Advocaat and Alex McLeish.

A new state-of-the-art training complex was completed last year at a cost of £14m pounds and as a tribute to the chairman it was called Murray Park.

Murray said: "It has been a great honour to have held the position of chairman for 14 years but I feel a change of management style would be beneficial for the club as the whole industry faces new challenges.

"A strong team is now in place to assist John in reaching our financial, commercial and football targets which collectively must be more realistic as recently costs have soared and incomes remained static. These facts are facing all clubs at present.

"I will still be available for support and advice when required."

McClelland told the website: "This is obviously a great privilege and I value David and the Board's confidence in me by making this appointment.

The new chairman went on to praise the work Murray has done at Ibrox.

"His time as chairman has given the club the most successful period in its history. As honorary chairman he will still have a key role and will be there to provide ongoing advice to all of us at Rangers in the future," said McClelland.