Bank's tight grip on spending will harm Rangers' title bid, says David Weir

RANGERS captain David Weir has accused the club's bankers of unreasonable behaviour in placing fresh restrictions on manager Walter Smith ahead of the forthcoming transfer window.

• David Weir: Policy is 'illogical'

The veteran defender is bemused by the policy, confirmed again by Smith earlier this week, which currently means no funds will be available to spend in January for either permanent or loan signings.

With Rangers still in limbo as they await the outcome of the latest takeover bid for the club from businessmen Craig Whyte and Andrew Ellis, Lloyds Banking Group continues to dictate the financial management at Ibrox.

Weir believes Rangers' bid to win a third successive SPL title this season and qualify for next year's Champions League could be seriously compromised if they are not allowed to strengthen the squad next month.

"It seems illogical that we can't sign any new players in January," said Weir. "Given how successful we have been in reaching a European final and playing in the Champions League, reducing the wage bill and the squad at the same time, you wonder how much further you can go down in terms of numbers and still be competitive.

"I'm an amateur when it comes to finances, but you look at the debt and the money brought in since the manager took over. You'd like to think that you could have wiped out the debt in that time with the money we've brought in. I'm obviously missing something."

Lloyds last night declined to comment on Weir's criticism.

Rangers' debt in their most recent annual accounts stood at 27.1 million, of which 22.3 million is owed to Lloyds and incorporates their long-term loan agreement with the bank and overdraft facilities.

A two-year transfer embargo was lifted by Lloyds last summer, allowing Smith to spend 5.25 million in transfer fees on strikers Nikica Jelavic and James Beattie and secure the loan signings of Vladimir Weiss and Richard Foster.

That investment was offset by the sales of Kevin Thomson and Danny Wilson for 4 million, however, while four other senior players left the club at the end of their contracts.

Rangers raked in almost 14 million from their participation in the Champions League group stage last season, allowing them to record a profit of 4.2 million, and will earn even more from the current European campaign which has seen them finish third in their Champions League group to progress to the knockout stages of the Europa League. Weir is also concerned that they may face that challenge with their existing squad further diminished as prize assets such as Scotland goalkeeper Allan McGregor are vulnerable to potential transfer bids.

"That's what the manager and his staff are fighting," added Weir. "You cannot underestimate the job we've done with one hand tied behind our back.

"It's not inconceivable there could be departures next month. It's the reality of where we are at (with the bank].It's no secret that, if a right bid comes in, then the player will go. We'd prefer everyone to remain and keep our best players to be successful, but it's out of our hands.

"The tightness of our squad has been the basis of the success we have had in recent seasons, but that can change as well."

Weir was speaking at Hampden, where he promoted ESPN's live coverage of SPL football over the festive period which will begin with Rangers against Motherwell at Fir Park on Sunday. He was joined by Celtic captain Scott Brown, who made his return from injury as a substitute in his team's 1-1 draw at home to Kilmarnock on Tuesday night. The 25-year-old midfielder is likely to be restored to the starting line-up on Sunday when Celtic seek to put their recent stuttering form behind them for the visit of St Johnstone.

But, while manager Neil Lennon is able to add to his squad next month, Brown insists Celtic already have the strength and quality required to overhaul Rangers and win the title for the first time in three years.

"Our squad is probably the best in the league, to be perfectly honest," said Brown. "We've got around 25 or 30 player who can come into the first team at any time. We've pretty much got two good starting elevens. If we went through January without buying a player, we would still be fine.

"We have a big game on Sunday and we need to keep close to Rangers before the Old Firm game at Ibrox on 2 January.

"There is no real concern about our form. We are looking good in training and we are dominating teams in games. We are putting the ball in the box and we just need a bit of luck."