Rangers chief exec Wallace reassures players over club’s future

Rangers Chief Executive Graham Wallace has tried to reassure Ally McCoist’s squad there is a secure future for them at the club.

Wallace addressed the players in the home dressing-room at Ibrox on Friday when he insisted there were no imminent financial worries.

He tried to impress upon the squad that the situation is a lot rosier than is being portrayed in certain quarters, and that plans were in place for further improvements.

Wallace insisted that the £3 million raised by the recent share issue had stabilised the situation.

However, this flies in the face of the feelings of supporters’ groups, who worry that the club will run out of money by the turn of the year.

And former chairman Alistair Johnston a hard-line critic of the current Board since he vacated his position at Ibrox has also expressed grave reservations, urging the Easdale brothers to sell their shares and get out of Ibrox.

One player said: “The Chief Executive spoke to the whole squad on Friday, and tried to assure us that the situation was under control.

“He spoke well and clearly, and he told us not to worry about speculation surrounding the club. A lot of us don’t really know what is happening off the field.

“We just try to concentrate on winning games and doing our jobs. The Chief Executive insisted that the financial situation was under control.”

Wallace’s move follows manager McCoist appearing increasingly exasperated at the club’s ongoing financial concerns.

Revenues are drastically reduced at Ibrox this season after only 23,000 season tickets were sold. Corporate hospitality is also down.

The club had to borrow £1 million from wealthy supporter, George Letham, last season which was secured against the Albion Car Park, while Sandy Easdale loaned £500,000 with no security.

The Letham loan was due to be repaid last month but he has granted an extension.