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Last Updated: Tuesday, 20 April, 2004, 16:27 GMT 17:27 UK
Gers launch youth scheme
Rangers youth coach George Adams launches the new scheme
Coach George Adams launches the new scheme
Rangers have created a new company to develop young players that will see the club in the curious position of having to buy their own players.

The scheme has attracted 1m from outside investors, who will be looking for a return on their money.

Director Martin Bain said: With transfers, Rangers will negotiate with Rangers Youth Development Limited and hopefully we'll come to an agreement.

"But if we can't we'll use the Fifa transfer model to agree a fee."

The self-funding company, wholly owned by the Ibrox club, has attracted four outside investors, while Rangers have initially put in 2.5m.

The company will own the youngsters and Rangers will have to bid for players who had previously cost them nothing.

"I can see how it sounds strange but, if you take the running costs of Murray Park, Rangers are actually committing 2m every year to this company."

"If Allan Hutton is sold, for example, to Liverpool at the moment, the money goes to Rangers Football Club.

"But if Bajram Fetai, who is owned by the new company, is sold to Liverpool then the money goes to the development company. And that money is used to further fund more players.

"If I'm very honest, the focus was on the first team for most of the nine years that I've been here.

"But we created this Murray Park facility and you have to offset some of the running costs - and you have to protect the youth side."

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