The chairman of the football board at Rangers, Sandy Easdale, has told BBC Scotland that the financial situation at the club is ‘precarious’. Easdale, who is a major shareholder, raised the spectre of a second administration.
Season ticket sales have been slow and the accounts have been signed off on the basis that there would be a major uplift. It is certainly a matter of concern that the club is reliant on season ticket sales for the next campaign for cash flow.
The chairman of the football board at Rangers, Sandy Easdale, has told BBC Scotland that the financial situation at the club is ‘precarious’. Easdale, who is a major shareholder, raised the spectre of a second administration.
Season ticket sales have been slow and the accounts have been signed off on the basis that there would be a major uplift. It is certainly a matter of concern that the club is reliant on season ticket sales for the next campaign for cash flow.
Dave King has been urging fans not to renew until there is more transparency about the club’s finances and it looks as if his campaign has had some effect.
The Union of Fans, a collective of Rangers supporters groups, hit back at Mr Easdale’s remarks, stating that the problem at Rangers was not the loyalty of fans but the mismanagement of the finances over the years. It is evident that more was paid on salaries than was needed to get the club out of the divisions they were in and there was too much short termism.
A great deal now depends on the business review being conducted by Rangers chief executive Graham Wallace which was announced at the annual general meeting in December. He needs to win Rangers fans round by being open and transparent. Some of the results of the 120-day exercise may be announced today.