“This is a very low era in the club’s history,” he said. “You can’t deny that. It’s been a terrible period, and I feel deeply partly responsible. I don’t try and hide from it.
“The most important thing is the club survives. Not just for Rangers but for Scottish football. It may have to go back to a base level and build up again. But the club has not always been successful. It has had disappointing periods – maybe nothing as bad as this – from a non-football point of view. It went many years without winning and it might take several years to get back.
“If the club can’t play in Europe for a couple of years, do you need to bring in seasoned professionals or would you be better going back to youth and building? It all depends on how the club comes out of that and how deep the pockets are of who comes in.”