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Page last updated at 21:09 GMT, Thursday, 17 June 2010 22:09 UK

'Business as usual' says Rangers chairman Johnston

Rangers chairman Alastair Johnston
Johnston points out that Rangers would still like investment in the club

Rangers chairman Alastair Johnston has issued a statement to allay fans' concerns at the decision by Sir David Murray to take the club off the market.

On Tuesday club owner Murray lost patience with businessman Andrew Ellis's attempt to buy his shares.

But some fans have questioned where this leaves Rangers' business plan and their relationship with bankers Lloyds.

Johnston said on the Rangers website: "It is business as usual. Stability is something the board now welcomes."

However, Johnston added that "investment is still desired".

On hearing of the decision earlier this week by Murray to stop "actively" touting Rangers for sale, Stephen Smith of the Rangers Supporters Trust told BBC Scotland that fans would want to know how it affected Lloyds Bank, Johnston's chairmanship and the recent business plan that would allow manager Walter Smith to enter the transfer market to strengthen the squad.

Johnston said: "I must emphasise to our fans that it is business as usual, and acknowledge that the board is very appreciative of their patience and support over recent months relating to the uncertainty of its future.

"Since the end of the season, Rangers has pursued a strategy that did not rely solely on an ownership change in order to create a funding mechanism to support our operations going forward.


"The executive management team worked expeditiously to formulate a business plan that was acceptable to Lloyds Bank which ensures the ongoing financial underpinning of our operations.

"This facility will allow us to enhance our playing resources in the next few weeks and has already allowed us to conclude agreements with the football management team of Walter Smith, Ally McCoist and Kenny McDowall.

"Our chief executive, Martin Bain, and football team manager, Walter Smith, will continue to run the club reporting to the Rangers board, which in turn is responsible for protecting and representing the interests of all stakeholders in the club, especially our supporters who provide the lifeblood to energizing our future ambitions."

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see also
Club no longer for sale - Rangers
15 Jun 10 |  Rangers
Ellis advances talks with Rangers
09 Jun 10 |  Rangers
Rangers chief urges fan patience
06 Jun 10 |  Rangers
Rangers keep Smith for final year
25 May 10 |  Rangers

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FROM OTHER SPORT SITES Rangers chairman Johnston always had a hunch Ellis deal was a dead duck - 16 hrs ago
The Scotsman Rangers still equipped to thrive on a budget - 20 hrs ago
Clubcall Rangers: Johnston makes signings claim - 28 hrs ago
Glasgow Evening Times Ibrox fans are thanked - 32 hrs ago Johnston assures Gers fans - 32 hrs ago


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