Rangers FC in poor Financial condition

The financial situation of Rangers FC is in a poor state as the Scottish club accepted a £2million loan from the owner of Newcastle United, Mike Ashley and one of the consequences that this brought was the resignation of the former Chief Executive Officer Graham Wallace from his position at Rangers.

Philip Nash was another member of the Rangers club that decided to step down and drop the position he had at Ibrox and now Mike Ashley has to select some of his own people or candidates to fill up those positions that were left vacant.

Rumors began to spread suggesting that Mike Ashley who has now turned into an influencial and powerful authority at Rangers that the English businessman was interested in not only appointing some of his own people in the spots of the club that were left behind but that Ashley was also thinking about making a few changes within the internal staff of the club including finding another manager and replacing Ally McCoistbut the Scottish manager has shut down those rumors as he is certain that his position at Rangers is secured and will not change.

Ally McCoist stated that he remains calm about his position at Rangers as he has already talked with a number of the head authorities at the club and no changes in his coaching position are expected to be done.

‘’My position and objectives haven't changed at all since I took over the job. That hasn't changed and it won't change. Obviously sad with the departure of Graham. It gives me an opportunity to thank Graham for his work at the club’’
‘’Change is always a concern but I have been told that this change is moving the club forward, which is absolutely fantastic.I spoke to the chairman this morning and I've spoken to Sandy this morning. It was very decent to phone me and give an update. Both board members are comfortable with the situation at the moment. If they are happy with that I am happy with it’’