ALLY McCoist believes Rangers are doing “reasonably well” financially despite the club being in talks over securing a £1.5 million loan.
The Ibrox manager has been told the loan is part of the club’s business plan following reports of the cash injection from directors Sandy and James Easdale and major shareholder Laxey Partners.
Despite the need for the extra funds, McCoist has no fears about a second administration for Rangers – who lost £14.4m in the first 13 months of trading as a new company – or running out of money before the end of the season.
On the loan, he said: “It’s not concerning. I was down in London on Thursday at the board meeting and, although I wasn’t involved in the business side of the board meeting, I was involved in the football side. I was told it was part of the business plan so, if that’s the case, then I would think that’s fine.
“I would still hope there would be investment further down the line, I think it’s safe to say that everybody realises the need for investment and any stage in the future would be great.
“I can only say to the supporters that I think things are going reasonably well. With my knowledge of what’s happening, I would have to say that the supporters and myself would be encouraged by what’s happening.”
Chief executive Graham Wallace issued a categoric assurance on Thursday that there was no risk of the club being plunged into administration again and McCoist says he does not feel the need to demand continued personal assurances on the issue. He said: “I haven’t had talks with him because Graham has told me three or four times that’s the case and that’s fine. There is no use going into it in great detail if Graham has said to me there will not be another administration. That’s great news.”
Rangers, who host Stenhousemuir today, this week launched a fan engagement programme called Ready To Listen and McCoist has been encouraged by the response. He said: “I spoke to Graham this morning and he has been astounded by the response in 24 hours. I believe the figure is well over 20,000 replies.’’